Recognizing Reality—Unification of Official and Parallel Market Exchange Rates - 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 Recognizing Reality—Unification of Official and Parallel Market Exchange Rates write by Mr.Simon T Gray. This book was released on 2021-02-05. Recognizing Reality—Unification of Official and Parallel Market Exchange Rates available in PDF, EPUB and Kindle. Some central banks have maintained overvalued official exchange rates, while unable to ensure that supply of foreign exchange meets legitimate demand for current account transactions at that price. A parallel exchange rate market develops, in such circumstances; and when the spread between the official and parallel rates is both substantial and sustained, price levels in the economy typically reflect the parallel market exchange rate. “Recognizing reality” by allowing economic agents to use a market clearing rate benefits economic activity without necessarily leading to more inflation. But a unified, market-clearing exchange rate will not stabilize without a supportive fiscal and monetary context. A number of country case studies are included; my thanks to Jie Ren for pulling together all the data for the country case studies, and the production of the charts.
Parallel Exchange Rates in Developing Countries
Parallel 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 Parallel Exchange Rates in Developing Countries write by Miguel A. Kiguel. This book was released on 2016-07-27. Parallel Exchange Rates in Developing Countries available in PDF, EPUB and Kindle. '...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.
Parallel Currency Markets in Developing Countries
Parallel Currency Markets 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 Parallel Currency Markets in Developing Countries write by Pierre-Richard Agénor. This book was released on 1992. Parallel Currency Markets in Developing Countries available in PDF, EPUB and Kindle.
The Use of the Parallel Market Rate as a Guide to Setting the Official Exchange Rate
The Use of the Parallel Market Rate as a Guide to Setting the Official Exchange Rate - 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 The Use of the Parallel Market Rate as a Guide to Setting the Official Exchange Rate write by Nita Ghei. This book was released on 1996. The Use of the Parallel Market Rate as a Guide to Setting the Official Exchange Rate available in PDF, EPUB and Kindle.
Evolution and Performance of Exchange Rate Regimes
Evolution and Performance of Exchange Rate Regimes - 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 Evolution and Performance of Exchange Rate Regimes write by Mr.Kenneth Rogoff. This book was released on 2003-12-01. Evolution and Performance of Exchange Rate Regimes available in PDF, EPUB and Kindle. Using recent advances in the classification of exchange rate regimes, this paper finds no support for the popular bipolar view that countries will tend over time to move to the polar extremes of free float or rigid peg. Rather, intermediate regimes have shown remarkable durability. The analysis suggests that as economies mature, the value of exchange rate flexibility rises. For countries at a relatively early stage of financial development and integration, fixed or relatively rigid regimes appear to offer some anti-inflation credibility gain without compromising growth objectives. As countries develop economically and institutionally, there appear to be considerable benefits to more flexible regimes. For developed countries that are not in a currency union, relatively flexible exchange rate regimes appear to offer higher growth without any cost in credibility.
