Changes in exchange rates in rapidly developing countries : theory, practice, and policy issues / edited by Takatoshi Ito and Anne O. Krueger.

Format:

Book

Conference/Event

Author/Creator:

NBER-East Asia Seminar on Economics, Corporate Author.

Contributor:

Itō, Takatoshi, 1950-2025.

Krueger, Anne O.

Conference Name:

NBER-East Asia Seminar on Economics (7th : 1996 : Hong Kong)

NBER-East Asia Seminar on Economics.

Series:

NBER-East Asia Seminar on Economics (Series) ; v. 7.

NBER-East Asia seminar on economics ; v. 7

Language:

English

Subjects (All):

Foreign exchange rates--Developing countries--Congresses.

Foreign exchange rates.

Foreign exchange rates--East Asia--Congresses.

Foreign exchange--Government policy--Developing countries--Congresses.

Foreign exchange.

Foreign exchange--Government policy--East Asia--Congresses.

Physical Description:

1 online resource (466 p.)

Edition:

1st ed.

Place of Publication:

Chicago, Ill. : University of Chicago Press, c1999.

Language Note:

English

Summary:

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.

Contents:

Front matter

Contents

Acknowledgments

Introduction

1 The Choice of Exchange Rate Regime in Developing and Middle Income Countries

2 Contagious Currency Crises: Channels of Conveyance

3 Current Account Deficits and Capital Flows in East Asia and Latin America: Are the Early Nineties Different from the Early Eighties?

4 Economic Growth and Real Exchange Rate: An Overview of the Balassa-Samuelson Hypothesis in Asia

5 Resource Endowments and the Real Exchange Rate: A Comparison of Latin America and East Asia

6 Private Consumption, Nontraded Goods, and Real Exchange Rate: Evidence from South Korea and Taiwan

7 The Yen and Its East Asian Neighbors, 1980-1995: Cooperation or Competition?

8 Exchange Rate Pass-through and Industry Characteristics : The Case of Taiwan's Exports of Midstream Petrochemical Products

9 Evaluation of Korea's Exchange Rate Policy

10 Issues in Korean Exchange Rate Policy

11 Liberalization of Capital Flows in Korea: Big Bang or Gradualism?

12 The Foreign Exchange Allocation Policy in Postwar Japan: Its Institutional Framework and Function

13 The Syndrome of the Ever- Higher Yen, 1971-1995: American Mercantile Pressure on Japanese Monetary Policy

14 Testing for the Fundamental Determinants of the Long- Run Real Exchange Rate: The Case of Taiwan

15 Hong Kong's Currency Board and Changing Monetary Regimes

Contributors

Author Index

Subject Index

Notes:

Description based upon print version of record.

Includes bibliographical references and indexes.

ISBN:

9786611223663

9781281223661

1281223662

9780226386935

0226386937

OCLC:

212810047