The Impact of G-3 Exchange Rate Volatility on Developing Countries PDF Download
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Author: Gerardo Esquivel
Publisher:
ISBN:
Category : Foreign exchange rates
Languages : en
Pages : 40
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Book Description
Concerns the impact of instability of the dollar, yen and deutsche mark on developing countries' exports, foreign direct investment, and exchange rate crises.
Author: Gerardo Esquivel
Publisher:
ISBN:
Category : Foreign exchange rates
Languages : en
Pages : 40
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Book Description
Concerns the impact of instability of the dollar, yen and deutsche mark on developing countries' exports, foreign direct investment, and exchange rate crises.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498330282
Category : Business & Economics
Languages : en
Pages : 132
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Book Description
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Author: Mr.Kenneth Rogoff
Publisher: International Monetary Fund
ISBN: 1451875843
Category : Business & Economics
Languages : en
Pages : 85
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Book Description
Using recent advances in the classification of exchange rate regimes, this paper finds no support for the popular bipolar view that countries will tend over time to move to the polar extremes of free float or rigid peg. Rather, intermediate regimes have shown remarkable durability. The analysis suggests that as economies mature, the value of exchange rate flexibility rises. For countries at a relatively early stage of financial development and integration, fixed or relatively rigid regimes appear to offer some anti-inflation credibility gain without compromising growth objectives. As countries develop economically and institutionally, there appear to be considerable benefits to more flexible regimes. For developed countries that are not in a currency union, relatively flexible exchange rate regimes appear to offer higher growth without any cost in credibility.
Author: Pierre-Richard Agénor
Publisher: International Monetary Fund
ISBN: 1451923236
Category : Business & Economics
Languages : en
Pages : 44
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Book Description
The paper develops and tests a model of a developing economy that incorporates trade and capital restrictions, illegal transactions, a parallel foreign exchange market, currency substitution features, and forward-looking rational expectations. Temporary expansionary demand policies are associated with an increase in output and prices, a fall in the stock of net foreign assets, and a depreciation of the parallel exchange rate. The speed of adjustment is inversely related to the degree of rationing in the official foreign currency market. A once-for–all devaluation of the official exchange rate has no long-term effect on the premium.
Author: Stella Kaendera
Publisher: International Monetary Fund
ISBN: 1462389880
Category : Business & Economics
Languages : en
Pages : 25
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Book Description
This paper studies the evolution of the exchange rates of sub-Saharan African currencies in the context of the global financial crisis. In particular, it analyzes the reasons behind the differences in the magnitude and volatility of the exchange rates among countries. To this end, it takes a sample of seven countries, four members of the East African Community (EAC) (Kenya, Rwanda, Tanzania, and Uganda), and three others, which experienced large exchange rate losses at the onset of the crisis: Ghana, Nigeria, and Zambia. First, it analyzes the movements of the exchange rates with respect to the U.S. dollar and two other major currencies. Second, it tries to link the magnitude of their movements to key factors, relating to the external environment and the countries’ internal policies.
Author: Ibrahima Amadou Diallo
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This dissertation investigates how the real effective exchange rate (REER) and its associated asurements (REER volatility and REER misalignment) affect total factor productivity growth (TFPG). It also analyzes the channels through which the REER and its associated measurements act on total factor productivity (TFP). The first part studies how the REER itself, on the one hand, and the REER volatility, on the other hand, influence productivity. An analysis of the link between the level of REER and TFP in chapter 1 reveals that an exchange rate appreciation causes an increase of TFP. But this impact is also nonlinear: below the threshold, real exchange rate influences negatively productivity while above the threshold it acts positively. The results of chapter 2 illustrate that REER volatility affects negatively TFPG. We also found that REER volatility acts on TFP according to the level of financial development. For moderately financially developed countries, REER volatility reacts negatively on productivity and has no effect on productivity for very low and very high levels of financial development. The second part examines the channels through which the REER and its associated measurements influence productivity. The results of chapter 3 illustrate that the exchange rate volatility has a strong negative impact on investment. This outcome is robust in low income and middle income countries, and by using an alternative measurement of exchange rate volatility. Chapter 4 show that both real exchange rate misalignment and real exchange rate volatility affect negatively exports. It also demonstrates that real exchange rate volatility is more harmful to exports than misalignment. These outcomes are corroborated by estimations on subsamples of Low- ncome and Middle-Income countries.
Author: Mr.Ayhan Kose
Publisher: International Monetary Fund
ISBN: 9781589062214
Category : Business & Economics
Languages : en
Pages : 68
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Book Description
This study provides a candid, systematic, and critical review of recent evidence on this complex subject. Based on a review of the literature and some new empirical evidence, it finds that (1) in spite of an apparently strong theoretical presumption, it is difficult to detect a strong and robust causal relationship between financial integration and economic growth; (2) contrary to theoretical predictions, financial integration appears to be associated with increases in consumption volatility (both in absolute terms and relative to income volatility) in many developing countries; and (3) there appear to be threshold effects in both of these relationships, which may be related to absorptive capacity. Some recent evidence suggests that sound macroeconomic frameworks and, in particular, good governance are both quantitatively and qualitatively important in affecting developing countries’ experiences with financial globalization.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1498329837
Category : Business & Economics
Languages : en
Pages : 87
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Book Description
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Author: J. Fanelli
Publisher: Springer
ISBN: 0230590187
Category : Business & Economics
Languages : en
Pages : 425
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Book Description
The deregulation of domestic financial markets and the capital account in developing countries has frequently been associated with financial turmoil and macro volatility. The book analyzes the experiences of several countries, drawing implications for building development-friendly domestic and international financial architectures.
Author: Banco de Pagos Internacionales (Basilea, Suiza). Departamento Monetario y Económico
Publisher:
ISBN: 9789291319626
Category : Banks and banking, Central
Languages : es
Pages : 0
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Book Description
