New Developments of the Exchange Rate Regimes in Developing Countries

✍ Scribed by Hisayuki Mitsuo

• Year: 2007
• Tongue: English
• Leaves: 272
• Category: Library

✦ Synopsis

This book presents theoretical and empirical analyses of the new developments in exchange rate regimes in developing countries. It addresses a variety of exchange rate regimes from hard peg to floating and their impact in regions such as East Asia, Latin America and Eastern Europe.

✦ Table of Contents

Cover......Page 1
Contents......Page 6
List of Figures......Page 9
List of Tables......Page 11
Preface......Page 15
Notes on the Contributors......Page 16
1. Objective and analytical foundation......Page 18
2. Structure and contents......Page 21
References......Page 24
1.1 Introduction......Page 25
1.2 The methodology of classifying exchange rate regimes......Page 28
1.3 The evolution of exchange rate regimes, 1990–2001: does the bipolar view hold?......Page 34
1.4 IMF classification vs de facto classifications......Page 47
1.5 Determinants of fear of floating: an empirical analysis......Page 59
1.6 Summary and concluding remarks......Page 67
Appendix 1A: List of countries in Sections 1.3 and 1.4......Page 68
Appendix 1B: List of countries in Section 1.5......Page 69
Notes......Page 70
References......Page 73
2.1 Introduction......Page 76
2.2 Roles of a currency board and dollarization: analytical foundation......Page 77
2.3 Currency board in Argentina......Page 79
2.4 Currency board in Estonia......Page 84
2.5 Currency board in Bulgaria......Page 88
2.6 Dollarization in Ecuador......Page 93
2.7 Summary and conclusion......Page 98
Notes......Page 99
References......Page 100
3.1 Introduction......Page 101
3.2 Some problems of inflation targeting under a flexible exchange rate system......Page 102
3.3 Inflation targeting policy in Brazil......Page 104
3.4 A theoretical model......Page 110
3.5 Estimation of response function of the SELIC rate......Page 113
Notes......Page 121
References......Page 122
4.1 Introduction......Page 124
4.2 Yen/dollar exchange rate and East Asia’s business cycle......Page 126
4.3 Global electronics cycle, the yen/dollar exchange rate, and East Asia’s export performance......Page 137
4.4 Is East Asia a de facto dollar area?......Page 143
4.5 Conclusion......Page 153
Appendix 4A: System estimation of EA business cycles, 1992–2004......Page 155
Notes......Page 170
References......Page 174
5.1 Introduction......Page 176
5.2 The theory of the optimum currency area......Page 177
5.3 Preliminary analysis of the OCA criteria......Page 180
5.4 Empirical analysis......Page 187
5.5 Concluding remarks......Page 196
Appendix 5B: Analysis of output losses......Page 198
Notes......Page 200
References......Page 201
6.1 Introduction......Page 203
6.2 Measuring international trade competition......Page 204
6.3 Application to East Asian countries......Page 208
6.4 Intra-industry trade and trade competitiveness......Page 227
6.5 Application to effective exchange rates......Page 234
6.6 Conclusion......Page 240
Notes......Page 242
References......Page 245
7.1 Introduction......Page 248
7.2 Price ceiling and quality adjustment – an illustration......Page 250
7.3 The model......Page 253
7.5 Concluding remarks......Page 262
Appendix 7A: Proof of Proposition 1......Page 263
Notes......Page 264
References......Page 265
B......Page 266
E......Page 267
I......Page 269
M......Page 270
R......Page 271
Z......Page 272