Exchange Rate Misalignment in Developing Countries PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Exchange Rate Misalignment in Developing Countries PDF full book. Access full book title Exchange Rate Misalignment in Developing Countries by Sebastian Edwards. Download full books in PDF and EPUB format.
Author: Sebastian Edwards
Publisher: Johns Hopkins University Press
ISBN:
Category : Business & Economics
Languages : en
Pages : 110
Get Book Here
Book Description
This article analyzes the theory of equilibrium real exchange rates and defines misalignment as a deviation of the real exchange rate (RER) from its equilibrium level. The role of macroeconomic policies is then analyzed under three alternative nominal exchange rate regimes: predetermined nominal exchange rates; floating nominal rates; and dual or black market nominal exchange rates. This discussion points out how inconsistent macroeconomic policies often lead to real exchange rate misalignment. Corrective measures, including nominal devaluation and several alternative approaches, are then evaluated.
Author: Sebastian Edwards
Publisher: Johns Hopkins University Press
ISBN:
Category : Business & Economics
Languages : en
Pages : 110
Get Book Here
Book Description
This article analyzes the theory of equilibrium real exchange rates and defines misalignment as a deviation of the real exchange rate (RER) from its equilibrium level. The role of macroeconomic policies is then analyzed under three alternative nominal exchange rate regimes: predetermined nominal exchange rates; floating nominal rates; and dual or black market nominal exchange rates. This discussion points out how inconsistent macroeconomic policies often lead to real exchange rate misalignment. Corrective measures, including nominal devaluation and several alternative approaches, are then evaluated.
Author: International Monetary
Publisher: International Monetary Fund
ISBN: 1513592041
Category : Business & Economics
Languages : en
Pages : 108
Get Book Here
Book Description
The economic and social impact of the COVID-19 pandemic over the past year has been well-managed by the authorities. Timely and prudent fiscal and monetary easing shielded the economy from the full brunt of the crisis, while alleviating the health and social impact of the shock. Sound economic policies helped deliver macroeconomic stabilization, safeguard debt sustainability, and preserve investor confidence. While growth is expected to rebound in FY2021/22, the outlook is still clouded by uncertainty related to the pandemic and the pace of vaccinations. High public debt and large gross financing needs leave Egypt vulnerable to external shocks or changes in financial market conditions for EMs. Near-term fiscal and monetary policies should thus continue to support the recovery without accumulating undue imbalances.
Author: Mr.Kenji Moriyama
Publisher: International Monetary Fund
ISBN: 1455297739
Category : Business & Economics
Languages : en
Pages : 27
Get Book Here
Book Description
This paper investigates the degree of inflation inertia in Egypt and its determinants using the cross country data consisting of over 100 countries. Medium-unbiased estimator of inflation inertia in Egypt is high compared to other countries, as indicated by its location around the upper quartile among the sample. The cross country analysis indicates that counter-cyclical macroeconomic policy and fiscal consolidation are a key to reduce inflation inertia and the costs of disinflation.
Author: Ugo Panizza
Publisher:
ISBN:
Category : Egypt
Languages : en
Pages : 44
Get Book Here
Book Description
Author: Gerasimos Tsourapas
Publisher: Cambridge University Press
ISBN: 1108659047
Category : Political Science
Languages : en
Pages : 265
Get Book Here
Book Description
In this ground-breaking work, Gerasimos Tsourapas examines how migration and political power are inextricably linked, and enhances our understanding of how authoritarian regimes rely on labour emigration across the Middle East and the Global South. Dr Tsourapas identifies how autocracies develop strategies to tie cross-border mobility to their own survival, highlighting domestic political struggles and the shifting regional and international landscape. In Egypt, the ruling elite has long shaped labour emigration policy in accordance with internal and external tactics aimed at regime survival. Dr Tsourapas draws on a wealth of previously-unavailable archival sources in Arabic and English, as well as extensive original interviews with Egyptian elites and policy-makers in order to produce a novel account of authoritarian politics in the Arab world. The book offers a new insight into the evolution and political rationale behind regime strategies towards migration, from Gamal Abdel Nasser's 1952 Revolution to the 2011 Arab Uprisings.
Author: Mr.Guillermo Calvo
Publisher: International Monetary Fund
ISBN: 1451921217
Category : Business & Economics
Languages : en
Pages : 50
Get Book Here
Book Description
This paper presents a theoretical and empirical analysis of policies aimed at setting a more depreciated level of the real exchange rate. An intertemporal optimizing model suggests that, in the absence of changes in fiscal policy, a more depreciated level of the real exchange can only be attained temporarily. This can be achieved by means of higher inflation and/or higher real interest rates, depending on the degree of capital mobility. Evidence for Brazil, Chile, and Colombia supports the model’s prediction that undervalued real exchange rates are associated with higher inflation.
Author: Mr.Simon Gray
Publisher: International Monetary Fund
ISBN: 1484349032
Category : Business & Economics
Languages : en
Pages : 176
Get Book Here
Book Description
This paper documents the main themes covered in two seminars (December 2011 and September 2012) on monetary policy and implementation at the IMF—Middle East Center for Economics and Finance, and includes country case studies. Against the backdrop of the global financial crisis and swings in cross-border capital flows, operational frameworks have become more flexible, and liquidity management has impacted the relationship between the policy rate corridor and market rates. The balance sheet structure of central banks in the Middle East and North Africa (MENA) shows differences between oil exporters and others, while a few countries have exhibited notable changes since early 2011. Collateral now has a significant financial stability function. Although only one MENA country is part of the G20, implementation of the Basel III bank capital adequacy and liquidity rules will most likely impact banks’ way of doing business in MENA countries, even if indirectly.
Author:
Publisher: World Bank Publications
ISBN: 9780821340660
Category : Political Science
Languages : en
Pages : 126
Get Book Here
Book Description
This report summarizes Egypt's recent economic progress, highlights key opportunities and challenges currently facing its government and people, and outlines a strategy for securing its future prosperity on the brink of a new millennium. On the external front, it emphasizes reforming the trade regime, boosting exports, and entering into a partnership agreement with the European Union. On the domestic front, it outlines a range of structural reforms to promote higher savings and productive investment and policies to ensure that macroeconomic stability is maintained.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498344062
Category : Business & Economics
Languages : en
Pages : 74
Get Book Here
Book Description
Over the past two decades, many low- and lower-middle income countries (LLMICs) have improved control over fiscal policy, liberalized and deepened financial markets, and stabilized inflation at moderate levels. Monetary policy frameworks that have helped achieve these ends are being challenged by continued financial development and increased exposure to global capital markets. Many policymakers aspire to move beyond the basics of stability to implement monetary policy frameworks that better anchor inflation and promote macroeconomic stability and growth. Many of these LLMICs are thus considering and implementing improvements to their monetary policy frameworks. The recent successes of some LLMICs and the experiences of emerging and advanced economies, both early in their policy modernization process and following the global financial crisis, are valuable in identifying desirable features of such frameworks. This paper draws on those lessons to provide guidance on key elements of effective monetary policy frameworks for LLMICs.
Author: Khalid Ikram
Publisher: Routledge
ISBN: 113422754X
Category : History
Languages : en
Pages : 377
Get Book Here
Book Description
No other comprehensive study of Egyptian economic development The book obtains a unique insight into Egyptian politics through interviews with Prime Ministers and Cabinet ministers from the last 35 years Uses unpublished analysis by the World Bank, the IMF and USAID
