Recognizing Reality Unification Of Official And Parallel Market Exchange Rates PDF Download
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Author | : Mr.Simon T Gray |
Publisher | : International Monetary Fund |
Total Pages | : 45 |
Release | : 2021-02-05 |
Genre | : Business & Economics |
ISBN | : 1513568639 |
Download Recognizing Reality—Unification of Official and Parallel Market Exchange Rates Book 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.
Author | : Miguel A. Kiguel |
Publisher | : Springer |
Total Pages | : 411 |
Release | : 2016-07-27 |
Genre | : Business & Economics |
ISBN | : 1349255203 |
Download Parallel Exchange Rates in Developing Countries Book 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.
Author | : Pierre-Richard Agénor |
Publisher | : International Finance Section Department of Econ Ton Univers |
Total Pages | : 48 |
Release | : 1992 |
Genre | : Foreign exchange |
ISBN | : |
Download Parallel Currency Markets in Developing Countries Book in PDF, ePub and Kindle
Author | : Nita Ghei |
Publisher | : |
Total Pages | : 64 |
Release | : 1996 |
Genre | : Economic policy |
ISBN | : |
Download The Use of the Parallel Market Rate as a Guide to Setting the Official Exchange Rate Book in PDF, ePub and Kindle
Author | : Mr.Kenneth Rogoff |
Publisher | : International Monetary Fund |
Total Pages | : 85 |
Release | : 2003-12-01 |
Genre | : Business & Economics |
ISBN | : 1451875843 |
Download Evolution and Performance of Exchange Rate Regimes Book 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.
Author | : International Monetary Fund |
Publisher | : International Monetary Fund |
Total Pages | : 52 |
Release | : 1990-12-01 |
Genre | : Business & Economics |
ISBN | : 1451943229 |
Download Parallel Currency Markets in Developing Countries Book in PDF, ePub and Kindle
The paper reviews recent theoretical and empirical developments in the analysis of informal currency markets in developing countries. The basic characteristics of these markets are highlighted, and alternative analytical models to explain them are discussed. The implications for exchange rate policy —including imposition of foreign exchange restrictions, devaluation, and unification of exchange markets— in countries with a sizable parallel market are also examined.
Author | : Derbali, Abdelkader Mohamed Sghaier |
Publisher | : IGI Global |
Total Pages | : 458 |
Release | : 2024-03-18 |
Genre | : Business & Economics |
ISBN | : |
Download Recent Developments in Financial Management and Economics Book in PDF, ePub and Kindle
The field of Financial Management & Economics (FME) is constantly adapting to the changing economic landscape, observing the ongoing developments in the global business environment. These shifting dynamics have introduced a variety of influences, both fleeting and enduring, that deeply affect the decision-making foundations within the business arena. Researchers are tasked with shedding light on the bigger picture, capturing the essence of both subtle and significant shifts. As they confront unprecedented challenges, the imperative to document and comprehend these transformations resonates more urgently than ever before. Recent Developments in Financial Management and Economics is a work that beckons academics, researchers, and industry professionals to engage in the exploration of these changes. This book has a singular objective: to provide professionals, academics, and researchers with new theoretical frameworks and the latest empirical research findings. The book focuses on trust as a key driver, influencing different levels of Financial Management & Economics. It explores trust across the global economy and individual interactions in networked settings, offering guidance for navigating the complexities of today's interconnected financial and economic systems.
Author | : William Stanley Jevons |
Publisher | : New York : D. Appleton, c[1875] |
Total Pages | : 396 |
Release | : 1875 |
Genre | : Exchange |
ISBN | : |
Download Money and the Mechanism of Exchange Book in PDF, ePub and Kindle
Series title also at head of t.p.
Author | : International Monetary Fund. Asia and Pacific Dept |
Publisher | : International Monetary Fund |
Total Pages | : 35 |
Release | : 2023-12-14 |
Genre | : Business & Economics |
ISBN | : |
Download Bangladesh Book in PDF, ePub and Kindle
Bangladesh: Selected Issues
Author | : Banco de Pagos Internacionales (Basilea, Suiza). Departamento Monetario y Económico |
Publisher | : |
Total Pages | : 0 |
Release | : 2013 |
Genre | : Banks and banking, Central |
ISBN | : 9789291319626 |
Download Market Volatility and Foreign Exchange Intervention in EMEs Book in PDF, ePub and Kindle