Economic adjustment and exchange rates in developing countries / edited by Sebastian Edwards and Liaquat Ahamed.

Format:

Book

Contributor:

Ahamed, Liaquat.

Edwards, Sebastian, 1953-

National Bureau of Economic Research.

World Bank.

Series:

Conference report (National Bureau of Economic Research)

A National Bureau of Economic Research conference report

Language:

English

Subjects (All):

Economic stabilization--Developing countries--Econometric models--Congresses.

Economic stabilization.

Foreign exchange administration--Developing countries--Econometric models--Congresses.

Foreign exchange administration.

Physical Description:

1 online resource (xiii, 443 pages) : illustrations

Edition:

1st ed.

Place of Publication:

Chicago : University of Chicago Press, 1986.

Language Note:

English

Summary:

In spite of the attention paid exchange rates in recent economic debates on developing countries, relatively few studies have systematically analyzed in detail the various ramifications of exchange rate policy in these countries. In this new volume from the National Bureau of Economic Research, leading economists use rigorous models to tackle various exchange rate issues, while also illuminating policy implications that emerge from their analyses. The volume, divided into four main sections, addresses: the role of exchange rates in stabilization programs and the adjustment process; the importance of exchange rate policy during liberalization reform in developing countries; exchange rate problems relevant and unique to developing countries, illustrated by case studies; and the problems defining, measuring, and identifying determinants of real exchange rates. Authors of individual papers examine the relation between commercial policies and exchange rates, the role of exchange rate policy in stabilization programs, the effectiveness of devaluations as a policy tool, and the interaction between exchange rate terms of trade an capital flow. This research will not only prove crucial to our understanding of the role of exchange rates in developing countries, but will clearly set the standard for future work in the field.

Contents:

Front matter

Contents

Acknowledgments

Introduction

1. Exchange Rate Management and Stabilization Policies in Developing Countries

2. The Effects of Commercial, Fiscal, Monetary, and Exchange Rate Policies on the Real Exchange Rate

3. Wage Indexation, Supply Shocks, and Monetary Policy in a Small, Open Economy

4. Multiple Exchange Rates for Commercial Transactions

5. Welfare, Banks, and Capital Mobility in Steady State: The Case of Predetermined Exchange Rates

6. Capital Flows, the Current Account, and the Real Exchange Rate: Some Consequences of Stabilization and Liberalization

7. Commodity Export Prices and the Real Exchange Rate in Developing Countries: Coffee in Colombia

8. Stabilization, Stagflation, and Investment Incentives: The Case of Kenya, 1979-1980

9. Discrete Devaluation as a Signal to Price Setters: Suggested Evidence from Greece

10. Collective Pegging to a Single Currency: The West African Monetary Union

11. Economic Adjustment and the Real Exchange Rate

Contributors

Author Index

Subject Index

Notes:

"Papers ... presented at a joint National Bureau of Economic Research-World Bank conference held in Washington, D.C., 29 November through 1 December, 1984."

Includes bibliographies and indexes.

ISBN:

9786611223311

9781281223319

128122331X

9780226184739

0226184730

OCLC:

476228190