Exchange Rates in Emerging Countries: Eleven Empirical Regularities from Latin America and East Asia

Sebastian Edwards

No 17074, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: In this paper I discuss some of the most important lessons on exchange rate policies in emerging markets during the last 35 years. The analysis is undertaken from the perspective of both the Latin American and East Asian nations. Some of the topics addressed include: the relationship between exchange rate regimes and growth, the costs of currency crises, the merits of "dollarization," the relation between exchange rates and macroeconomic stability, monetary independence under alternative exchange rate arrangements, and the effects of the recent global "currency wars" on exchange rates in commodity exporters.

JEL-codes: F0 F31 F32 F41 (search for similar items in EconPapers)
Date: 2011-05
New Economics Papers: this item is included in nep-cba, nep-ifn, nep-mon, nep-opm and nep-sea
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Citations: View citations in EconPapers (29)

Published as “Exchange-Rate Policies in Emerging Countries: Elev en Empirical Regularities from Latin America and East Asia,” Open Economies Review , vol. 22, no. 4, September 2011, pp. 533-63.

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