Real Exchange Rate Misalignment in Developing Countries Under the Floating Exchange Rate Regime - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Real Exchange Rate Misalignment in Developing Countries Under the Floating Exchange Rate Regime write by Gae-Iyong Choi. This book was released on 1996. Real Exchange Rate Misalignment in Developing Countries Under the Floating Exchange Rate Regime available in PDF, EPUB and Kindle.
Exchange Rate Misalignment in Developing Countries
Exchange Rate Misalignment in Developing Countries - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Exchange Rate Misalignment in Developing Countries write by Sebastian Edwards. This book was released on 1988. Exchange Rate Misalignment in Developing Countries available in PDF, EPUB and Kindle. This article analyzes the theory of equilibrium real exchange rates and defines misalignment as a deviation of the real exchange rate (RER) from its equilibrium level. The role of macroeconomic policies is then analyzed under three alternative nominal exchange rate regimes: predetermined nominal exchange rates; floating nominal rates; and dual or black market nominal exchange rates. This discussion points out how inconsistent macroeconomic policies often lead to real exchange rate misalignment. Corrective measures, including nominal devaluation and several alternative approaches, are then evaluated.
Exchange Rate Misalignment
Exchange Rate Misalignment - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Exchange Rate Misalignment write by Lawrence E. Hinkle. This book was released on 1999. Exchange Rate Misalignment available in PDF, EPUB and Kindle. The study cautiously identifies exchange rate misalignment as an important element in most of the exchange rate crises that plagued the developing world during the last decade. Given that the increasing integration of world capital markets, has escalated the costs of such crises, a broad consensus emerged in recent years, that the overriding objective of exchange rate policy in developing countries, should be to avoid episodes of prolonged, and substantial misalignment, i.e., situations in which the actual real exchange rate differs significantly from its long-run equilibrium value. It was the Bank's involvement in one such misalignment episode, that eventually led to this book. Following an overview on the concepts and measurement of exchange rate misalignment, its impact on the purchasing power parity, and the relationship between the external real exchange rate (RER), and the two-good internal RER for tradables non-tradables, the study presents methodologies - empirical applications - for estimating the RER equilibrium. The study reaches an optimistic conclusion - that enough is known to identify cases of misalignment, and be able to sound clear warning signals. The implication for exchange rate policy is that ignorance about the empirical value of the equilibrium exchange rate, cannot be used to clinch arguments for extreme exchange arrangements, such as clean floats, currency boards, and "dollarization."
Changes in Exchange Rates in Rapidly Developing Countries
Changes in Exchange Rates in Rapidly Developing Countries - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Changes in Exchange Rates in Rapidly Developing Countries write by Takatoshi Ito. This book was released on 2007-12-01. Changes in Exchange Rates in Rapidly Developing Countries available in PDF, EPUB and Kindle. The exchange rate is a crucial variable linking a nation's domestic economy to the international market. Thus choice of an exchange rate regime is a central component in the economic policy of developing countries and a key factor affecting economic growth. Historically, most developing nations have employed strict exchange rate controls and heavy protection of domestic industry-policies now thought to be at odds with sustainable and desirable rates of economic growth. By contrast, many East Asian nations maintained exchange rate regimes designed to achieve an attractive climate for exports and an "outer-oriented" development strategy. The result has been rapid and consistent economic growth over the past few decades. Changes in Exchange Rates in Rapidly Developing Countries explores the impact of such diverse exchange control regimes in both historical and regional contexts, focusing particular attention on East Asia. This comprehensive, carefully researched volume will surely become a standard reference for scholars and policymakers.
Floating Exchange Rates in Developing Countries
Floating Exchange Rates in Developing Countries - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Floating Exchange Rates in Developing Countries write by Peter J. Quirk. This book was released on 1987-05-15. Floating Exchange Rates in Developing Countries available in PDF, EPUB and Kindle. In recent years, an increasing number of developing countries have adopted market-determined floating exchange rates. This development has represented a significant step forward in the evolution toward exchange rate flexibility that has taken place in the developing country group since the adoption of generalized floating by industrial countries in 1973.
