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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Exchange Rate Regimes for Emerging Markets: Reviving the Intermediate Option

Exchange Rate Regimes for Emerging Markets: Reviving the Intermediate Option

Williamson, John

Paperback

Series: Policy Analyses in International Economics, Book 60

EconomicsInvesting & Finance

ISBN10: 0881322938
ISBN13: 9780881322934
Publisher: Peterson Inst For Intl Economi
Published: Sep 1 2000
Pages: 108
Weight: 1.18
Height: 0.94 Width: 2.94 Depth: 6.32
Language: English
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.

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