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The Great Exchange Rate Debate after Argentina

Sebastian Edwards ()

Working Papers from Oesterreichische Nationalbank (Austrian Central Bank)

Abstract: In this paper I discuss in what way, if any, the collapse of Argentina’s experience with a currency board has affected the policy debate on the appropriate exchange rate regime in emerging and transition countries. More specifically, I deal with three issues: (1) I discuss some important aspects of the Argentine experience. (2) I provide a comparative evaluation of economic performance under strict dollarization. And (3), I analyze emerging countries’ experiences with flexible exchange rates, including the issue of a fear of floating.

Pages: 36
Date: 2002-09-30
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