Parallel Exchange Rates in Developing CountriesMiguel A. Kiguel, J. Saul Lizondo, Stephen A. O'Connell Springer, 27 jul 2016 - 399 páginas '...the most definitive study of the subject, assembling an all-star cast to address the many outstanding questions and succeeding beyond expectations in combining elegant theory and state of the art econometrics to reach very sensible policy conclusions.' - Mohsin S. Khan, Deputy Director, Research Department, International Monetary Fund ' This book fills an important vacuum in the literature of the economic consequences of parallel markets and should prove of great value to students of economic development and to policy-makers in developing countries as they struggle to reform their exchange rate and trade incentive systems. Here they will find all that they need to know.' - Vittorio Corbo, Professor of Economics, Universidad Catolica de Chile 'A most comprehensive treatment of the relationships between parallel foreign exchange markets and macroeconomic policies, both across countries and over time. The book substantially enhances our understanding of how these systems work in practice and will be of great interest to policy-makers, researchers and graduate students of economic policy.' - Samuel M. Wangwe, Professor of Economics, University of Dar es Salaam and Executive Director, Economic and Social Research Foundation, Dar es Salaam, Tanzania This book examines extensive empirical evidence on the macroeconomic implications of parallel exchange rates in developing countries. Eight case-studies from Africa, Latin America, and Turkey provide detailed evidence on the emergence of parallel exchange rates, their impact on macroeconomic performance, and the criteria for successful exchange-rate unification. A chapter on European dual exchange rates summarizes the contrasting experience of industrial countries. An overview chapter lays out the analytical framework, assesses the evidence, and draws policy conclusions. |
Índice
Lessons | 17 |
Parallel Markets and the Effectiveness of Exchange Controls | 77 |
the Mexican Experience 19827 | 110 |
Adoption Management and Abandonment of Multiple | 145 |
Macroeconomic Aspects of Multiple Exchange Rate | 188 |
The Parallel Market Premium for Foreign Exchange | 221 |
Exchange Controls and the Parallel Premium in Tanzania | 247 |
The Parallel Market Premium and Exchange Rate | 291 |
Black Market Exchange Rates in Turkey | 333 |
European Dual Exchange Rates | 359 |
Index | 387 |
Otras ediciones - Ver todo
Parallel Exchange Rates in Developing Countries Miguel A. Kiguel,J. Saul Lizondo,Stephen A. O'Connell No hay ninguna vista previa disponible - 2014 |
Parallel Exchange Rates in Developing Countries Miguel Alberto Kiguel,José Saúl Lizondo,Stephen A. O'Connell No hay ninguna vista previa disponible - 1997 |
Términos y frases comunes
adjustment Argentina auction average balance of payments Bank of Mexico Bank of Tanzania billion black market premium budget capital account capital flight capital outflows cedis Central Bank changes cocoa commercial exchange rate commercial rate current account transactions debt decline devaluation dollar domestic prices Dornbusch dual exchange market dual exchange rate economic effect equation estimated exchange controls exchange rate policy exchange rate regime exchange rate system exchange rate unification expected exports external financial market fiscal deficit foreign assets foreign exchange market Ghana illegal imports increase inflation inflows insulation International Monetary Fund international reserves Kiguel liberalization Lizondo macroeconomic official exchange rate official rate overvalued parallel exchange rate parallel foreign exchange parallel premium parallel rate percent of GDP period portfolio private sector public sector ratio reduced reforms revenues shocks smuggling spread Sudan Table Tanzania terms of trade tion tradeables variables Venezuela World Bank Zambia