Kicking the Habit: Moving from Pegged Rates to Greater Exchange Rate Flexibility

Barry Eichengreen

Economic Journal, 1999, vol. 109, issue 454, C1-14

Abstract: Why do governments find it so difficult to move from pegged exchange rates to greater exchange rate flexibility? The author first establishes that there is a problem to be solved: that there are powerful incentives for greater flexibility deriving from changes in the international economic and financial environment but that policymakers find it difficult to engineer a smooth transition. He offers practical suggestions and a framework under which the probability of a smooth transition can be maximized. Drawing examples from recent economic history, the author then attempts to understand the experience of selected countries that have undertaken this transition.

Date: 1999
References: Add references at CitEc
Citations: View citations in EconPapers (32)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ecj:econjl:v:109:y:1999:i:454:p:c1-14

Ordering information: This journal article can be ordered from
http://www.blackwell ... al.asp?ref=0013-0133

Access Statistics for this article

Economic Journal is currently edited by Martin Cripps, Steve Machin, Woulter den Haan, Andrea Galeotti, Rachel Griffith and Frederic Vermeulen

More articles in Economic Journal from Royal Economic Society Contact information at EDIRC.
Bibliographic data for series maintained by Wiley-Blackwell Digital Licensing () and Christopher F. Baum ().