Changes in Exchange Rates in Rapidly Developing Countries
Title | Changes in Exchange Rates in Rapidly Developing Countries PDF eBook |
Author | Takatoshi Ito |
Publisher | University of Chicago Press |
Pages | 466 |
Release | 2007-12-01 |
Genre | Business & Economics |
ISBN | 0226386937 |
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.
Exchange Rate Assessments
Title | Exchange Rate Assessments PDF eBook |
Author | Mr.Jaewoo Lee |
Publisher | International Monetary Fund |
Pages | 34 |
Release | 2008-04-07 |
Genre | Business & Economics |
ISBN | 1589066383 |
The rapid increase in international trade and financial integration over the past decade and the growing importance of emerging markets in world trade and GDP have inspired the IMF to place stronger emphasis on multilateral surveillance, macro-financial linkages, and the implications of globalization. The IMF's Consultative Group on Exchange Rate Issues (CGER)--formed in the mid-1990s to provide exchange rate assessments for a number of advanced economies from a multilateral perspective--has therefore broadened its mandate to cover both key advanced economies and major emerging market economies. This Occasional Paper summarizes the methodologies that underpin the expanded analysis.
Exchange Rate Assessment
Title | Exchange Rate Assessment PDF eBook |
Author | Mr.Hamid Faruqee |
Publisher | International Monetary Fund |
Pages | 92 |
Release | 1998-07-24 |
Genre | Business & Economics |
ISBN | 9781557757319 |
The IMF's internal analysis of exchange rate issues has been guided by, and limited by, the conceptual and empirical frameworks that have emerged from the collective research of the economics profession. The research has provided several general approaches that are useful for assessing whether countries exchange rates seem broadly appropriate. One involves the calculation of purchasing power-party (PPP) measure or international competitiveness indicators. A second, known as the macroeconomic balance framework, focuses on the extent to which prevailing exchange rates and policies are consistent with simultaneous internal and external equilibrium over the medium run. Some recent extensions of the macroeconomic balance approach and the manner in which it is applied by the IMF staff are described in this paper.
Exchange Rate Assessments
Title | Exchange Rate Assessments PDF eBook |
Author | Mr.Irineu E. de Carvalho Filho |
Publisher | International Monetary Fund |
Pages | 37 |
Release | 2009-12-01 |
Genre | Business & Economics |
ISBN | 145187426X |
Are the current account fluctuations in oil-exporting countries "excessive"? How should their real exchange rate respond to the evolution of external (and domestic) fundamentals? This paper proposes methodologies tailored to the specific features of oil-exporting countries that help address these questions. Price-based methodologies (based on the time series of real effective exchange rates) identify a strong link between the real exchange rate and the terms of trade, but have relatively limited explanatory power. On the other hand, an empirical model of the current account, which fits oil exporting countries' data well, and an intertemporal model that takes into account the stock of oil reserves provide useful benchmarks for oil exporters' external balances.
Methodology for CGER Exchange Rate Assessments
Title | Methodology for CGER Exchange Rate Assessments PDF eBook |
Author | International Monetary Fund. Research Dept. |
Publisher | International Monetary Fund |
Pages | 41 |
Release | 2006-08-11 |
Genre | Business & Economics |
ISBN | 1498332021 |
Exchange rate surveillance has always been at the core of the IMF’s responsibilities. Throughout its existence, the Fund has strived to strengthen its framework for assessing exchange rates, adapting it to underlying macroeconomic and financial developments in member countries. As part of this mandate, since the mid-1990s the Consultative Group on Exchange Rate Issues (CGER) has provided exchange rate assessments for a number of advanced economies from a multilateral perspective, with the aim of informing the country-specific analysis of Article IV Staff Reports and fostering multilateral consistency.
Exchange Rate Analysis in Support of IMF Surveillance
Title | Exchange Rate Analysis in Support of IMF Surveillance PDF eBook |
Author | Charalambos G. Tsangarides |
Publisher | International Monetary Fund |
Pages | 352 |
Release | 2008 |
Genre | Business & Economics |
ISBN | 1451962037 |
Exchange rate analysis lies at the center of the IMF's surveillance mandate and policy advice, as well as in the design of IMF-supported programs, and IMF staff are called upon to analyze a variety of exchange rate issues in various member countries, both small and large, from the least economically developed to the most advanced, and from those whose currencies circulate only locally to those whose currencies are of global importance. This book provides a sample of the topics the IMF staff typically examine under the broad rubric of exchange rate analysis, encompassing several topics: determination and impact of the real exchange rate, assessing competitiveness and the equilibrium real exchange rate in specific countries or country groups, and considerations in the choice of exchange rate regime.--Publisher's description.
Exchange Rate Economics
Title | Exchange Rate Economics PDF eBook |
Author | Ronald MacDonald |
Publisher | Routledge |
Pages | 334 |
Release | 2005 |
Genre | Foreign exchange |
ISBN | 1134838220 |
''In summary, the book is valuable as a textbook both at the advanced undergraduate level and at the graduate level. It is also very useful for the economist who wants to be brought up-to-date on theoretical and empirical research on exchange rate behaviour.'' ""Journal of International Economics""