Where do we Stand on Choosing Exchange Rate Regimes in Developing and Emerging Economies?

Graham Bird

Chapter 3 in International Finance and the Developing Economies, 2004, pp 34-50 from Palgrave Macmillan

Abstract: Abstract The question of what is the best exchange rate regime for a country to adopt has been an important part of the macroeconomic policy debate for as long as here has been a debate about macroeconomic policy. It has indeed sometimes been the dominant issue. An historical review could easily go back to the nineteenth century and the debate over the gold standard and the bimetallic standard, or could go back to the interwar period and the debate over the return to gold and the abandonment of the gold standard in favour of exchange rate flexibility. Or it could focus on the exchange rate arrangements incorporated into the Bretton Woods system devised in 1944 and the final collapse of those arrangements in favour of generalised flexible exchange rates in 1973.

Keywords: Exchange Rate; Monetary Policy; Fiscal Policy; Real Exchange Rate; Exchange Rate Regime (search for similar items in EconPapers)
Date: 2004
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Journal Article: Where Do We Stand On Choosing Exchange Rate Regimes in Developing and Emerging Economies? (2002)
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DOI: 10.1057/9780230599840_3

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