Changes in Exchange Rates in Rapidly Developing Countries
Theory, Practice, and Policy Issues
1st Edition
Published on 1. December 2007
466 pages
978-0-226-38693-5 (ISBN)
Description
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.
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Takatoshi Ito | Anne O. Krueger
Changes in Exchange Rates in Rapidly Developing Countries
Theory, Practice, and Policy Issues
Book
04/1999
University of Chicago Press
€120.08
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Content
- Intro
- Changes in Exchange Rates in Rapidly Developing Countries: Theory, Practice, and Policy Issues
- 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: America 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
