The Determinants of the Real Exchange Rate in Zambia
Author : Kombe Oswald Mungule
Publisher :
Page : 72 pages
File Size : 28,96 MB
Release : 2004
Category : Business & Economics
ISBN :
Author : Kombe Oswald Mungule
Publisher :
Page : 72 pages
File Size : 28,96 MB
Release : 2004
Category : Business & Economics
ISBN :
Author : Mr.Jerome L. Stein
Publisher : International Monetary Fund
Page : 46 pages
File Size : 35,82 MB
Release : 1995-08-01
Category : Business & Economics
ISBN : 1451955146
The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and national and international economic developments.
Author : Sebastian Edwards
Publisher : Johns Hopkins University Press
Page : 110 pages
File Size : 29,11 MB
Release : 1988
Category : Business & Economics
ISBN :
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 : Per-Åke Andersson
Publisher : Nordic Africa Institute
Page : 144 pages
File Size : 26,35 MB
Release : 2000
Category : Business & Economics
ISBN : 9789171064622
A study which discusses the structural problems in Zambia and the policies of adjustment that have been tried. It also analyses the impact of various strategies with regard to external resource transfers. The results show that the scope for growth is highly dependent on the tightness of the external resource constraint, and that debt service tends to dominate the policy-making.
Author : Lawrence E. Hinkle
Publisher : World Bank Publications
Page : 638 pages
File Size : 35,86 MB
Release : 1999
Category : Business & Economics
ISBN : 019521126X
The study cautiously identifies exchange rate misalignment as an important element in most of the exchange rate crises that plagued the developing world during the last decade. Given that the increasing integration of world capital markets, has escalated the costs of such crises, a broad consensus emerged in recent years, that the overriding objective of exchange rate policy in developing countries, should be to avoid episodes of prolonged, and substantial misalignment, i.e., situations in which the actual real exchange rate differs significantly from its long-run equilibrium value. It was the Bank's involvement in one such misalignment episode, that eventually led to this book. Following an overview on the concepts and measurement of exchange rate misalignment, its impact on the purchasing power parity, and the relationship between the external real exchange rate (RER), and the two-good internal RER for tradables non-tradables, the study presents methodologies - empirical applications - for estimating the RER equilibrium. The study reaches an optimistic conclusion - that enough is known to identify cases of misalignment, and be able to sound clear warning signals. The implication for exchange rate policy is that ignorance about the empirical value of the equilibrium exchange rate, cannot be used to clinch arguments for extreme exchange arrangements, such as clean floats, currency boards, and "dollarization."
Author : Alberto Valdés
Publisher : Intl Food Policy Res Inst
Page : 368 pages
File Size : 19,15 MB
Release : 1993-01-01
Category : Business & Economics
ISBN : 0896293270
General policy environment; Current status of and reform proposals for agriculture; Effects of domestic policy reforms on food security; Potential for intraregional trade.
Author : Joseph E. Gagnon
Publisher : Peterson Institute
Page : 265 pages
File Size : 17,23 MB
Release : 2011
Category : Business & Economics
ISBN : 9780881326277
Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 132 pages
File Size : 50,8 MB
Release : 2004-05-19
Category : Business & Economics
ISBN : 1498330282
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Author : Mr.Nils Øyvind Mæhle
Publisher : International Monetary Fund
Page : 71 pages
File Size : 12,47 MB
Release : 2013-01-31
Category : Business & Economics
ISBN : 1557756694
Many sub-Saharan African (SSA) countries liberalized their economies in the 1980s and early 1990s. This paper reviews the foreign exchange regime reforms in selected SSA, and their associated macroeconomic policies and economic performance during and after these reforms were undertaken. Before liberalization, most of the reviewed countries were characterized by extensive foreign exchange rationing, sizeable black market premiums, and declining per capita real income. Today, the countries that successfully reformed look markedly different. Rationing and parallel market spreads are a distant memory, and per capita income has increased sharply.
Author : Norman Loayza
Publisher : World Bank Publications
Page : 169 pages
File Size : 41,28 MB
Release : 2005-01-01
Category : Business & Economics
ISBN : 0821360914
Several countries in Latin America and the Caribbean are suffering severe economic downturns and the success of market-oriented reforms is being called into question. This report seeks to contribute to the debate by examining the nature of economic growth in the region. The aim is threefold: to describe the basic characteristics of growth; explain differences across countries and to forecast changes over the next decade.