Parallel Exchange Rates in Developing Countries

Front Cover
Miguel Alberto Kiguel, José Saúl Lizondo, Stephen A. O'Connell
St. Martin's Press, 1997 - Business & Economics - 399 pages
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.

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About the author (1997)

Stephen A. O'Connell is Eugene M. Lang Research Professor of Economics at Swarthmore College.

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