Exchange Rate Misalignment : An Application of the Behavioral Equilibrium Exchange Rate (BEER) to Botswana / Atsushi Iimi.

Format:

Book

Government document

Author/Creator:

Iimi, Atsushi.

Contributor:

International Monetary Fund. African Department.

Series:

IMF Working Papers; Working Paper ; No. 2006/140

IMF Working Papers

Language:

English

Subjects (All):

Foreign exchange rates--Botswana.

Foreign exchange rates.

Foreign exchange market--Botswana.

Foreign exchange market.

Financial crises--Botswana.

Financial crises.

Physical Description:

1 online resource (31 p.)

Edition:

1st ed.

Place of Publication:

Washington, D.C. : International Monetary Fund, 2006.

Language Note:

English

Summary:

Botswana's successive currency devaluations and recent move from a fixed to a crawling peg exchange rate regime raise the question of whether the exchange rate might be misaligned with economic fundamentals. This paper, applying the behavioral equilibrium exchange rate (BEER) approach, analyzes the behavior of the real exchange rate for the period 1985-2004. It finds that the pula was undervalued in the later 1980s but overvalued in recent years. Some policy lessons from experiences in other countries with crawling peg arrangements are therefore considered in the context of Botswana.

Contents:

""Contents""; ""I. INTRODUCTION""; ""II. THE LITERATURE""; ""III. RECENT DEVELOPMENTS IN EXCHANGE RATES IN BOTSWANA""; ""IV. ANALYTICAL FRAMEWORK""; ""V. ESTIMATION RESULTS""; ""VI. DISCUSSION""; ""VII. CONCLUSION""; ""EXPERIENCES OF OTHER COUNTRIES ADOPTING CRAWLING PEG ARRANGEMENTS""; ""REFERENCES""

Notes:

At head of title: African Department.

"June 2006."

Includes bibliographical references (p. 27-29).

Description based on print version record.

ISBN:

9786613825148

9781462355860

1462355862

9781452730974

1452730970

9781283512695

1283512696

9781452701356

1452701350

OCLC:

698585513