Approaches to exchange rate policy: choices for developing and transition economies
International Monetary Fund, Jun 1, 1994 - Business & Economics - 298 pages
External sector policies and exchange rate policy are central to a country's economic performance and to the IMF's surveillance functions. The papers in this book were presented at a seminar on Exchange Rate Policy in Developing and Transition Economies held by the IMF Institute. They analyze choices of exchange rate regimes, issues affecting management of exchange regimes, and specific types of regimes, including case studies from the former Soviet Union, Africa, Asia, and Latin America.
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The Choice of an Exchange Rate Regime
Summary of Discussion
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account transactions Argentina authorities balance of payments black market capital account capital flows central bank CFA franc zone competitiveness costs crawling peg credibility crisis currency convertibility current account debt depreciation developing countries discussion domestic price economic policy equilibrium rer exchange controls exchange rate policy exchange rate regime exchange rate system exchange regime export external fiscal policy fixed exchange rate fixed rate flexible exchange rate foreign exchange market growth imbalances important increase inflation rate inflationary inflows initial International Monetary Fund international reserves issue liberalization macroeconomic ment Mexico misalignment monetary policy monetary union multiple exchange rate multiple rate system nominal anchor nominal exchange rate nontradables official exchange rate official rate output overvalued parallel market problems real appreciation real exchange rate reduce reform relative price restrictions result ruble area shocks stabilization target tariffs terms of trade tion tradables transition economies U.S. dollar variables wage