| Exchange Rate Regimes for Emerging Markets: Reviving the Intermediate Option Contributor(s): Williamson, John (Author) |
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ISBN: 0881322938 ISBN-13: 9780881322934 Publisher: Peterson Institute for International Economic OUR PRICE: $15.79 Product Type: Paperback Published: September 2000 |
| Additional Information |
| BISAC Categories: - Business & Economics | Money & Monetary Policy - Business & Economics | International - Economics - Business & Economics | Economics - Theory |
| Dewey: 332.450 |
| LCCN: 00-39663 |
| Series: Policy Analyses in International Economics |
| Physical Information: 0.94" H x 2.94" W x 6.32" (1.18 lbs) 108 pages |
| Descriptions, Reviews, Etc. |
| Publisher Description: In the aftermath of the Asian/global financial crises of 1997-98, how should emerging markets now structure their exchange rate systemsto prevent new crises from occurring? This study challengescurrent orthodoxy by advocating the revival of intermediate exchangerate regimes. In so doing, Williamson presents a reasoned challenge tothe new prevailing attitude that claims that all countries involved in the international capital markets need to polarize to one of the extreme regimes (to a fixed rate with either a currency board or dollarization, or to a lightly-managed float). He concludes that although there is some truth in the allegation that intermediate regimes are vulnerable to speculative crises, they still offer offsetting advantages. He also contends that it would be possible to redesign them to be more flexible so as to reduce their vulnerability to crises. |