Options for Exchange Rate Policy

Front Cover
UN, Jan 1, 2000 - Business & Economics - 166 pages
The exchange rate is a vital pillar of macroeconomic management. During the recent Asian crises many analysts argued that otherwise sound economic management in east and southeast Asian countries was undermined by deficiences in exchange rate policies. An appropriate policy has to take into account the size, structural features and openness of the economy. It has to be consistent with monetary and fiscal policies and factor in the implications of policy evolution in major trading partners, particularly in the case of the least developed countries which have close trade and investment links with a large neighbouring country. This publication is the final output of a project for the benefit of selected least developed countries in the region. Country studies for Bangladesh, Bhutan, Cambodia, the Lao People's Democratic Republic, and Nepal are included.

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1 Structural features of the five sample countries

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