Exchange Rate Regimes

Vijay Joshi

World Economics, 2003, vol. 4, issue 4, 15-36

Abstract: This paper argues that (a) for many developing countries, the optimal external payments regime would be a combination of an intermediate exchange rate with capital controls and (b) the policy stance and advice of the IMF should reflect this judgement. The paper uses India as a case study to illustrate its argument.

Date: 2003
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