Exchange Rate Policy for Developing Countries

William Branson, Louka Katseli-Papaefstratiou and Stanislaw Wellisz

Chapter 11 in The World Economic Order, 1981, pp 391-422 from Palgrave Macmillan

Abstract: Abstract In his Per Jacobsson lecture, Arthur Lewis (1972 p. 33) said: ‘It is now the conventional wisdom that the currencies of the developed countries should float, but the currencies of the less-developed (LDCs) should not; that is to say that each LDC should choose a more developed country (MDC) as a partner—or the SDR—and tie itself in a fixed relationship.’

Keywords: Exchange Rate; Market Power; Exchange Rate Regime; Currency Area; Exchange Rate Policy (search for similar items in EconPapers)
Date: 1981
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DOI: 10.1007/978-1-349-16488-2_12

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