IDEAS home Printed from https://ideas.repec.org/a/pal/imfstp/v48y2001i1p6.html
   My bibliography  Save this article

Welfare Effects of Uzbekistanís Foreign Exchange Regime

Author

Listed:
  • By Christoph B. Rosenberg

    (International Monetary Fund)

  • Maarten de Zeeuw

    (International Monetary Fund)

Abstract

In addition to transferring about 16 percent of GDP from exporters to importers, Uzbekistanís quasi-fiscal multiple exchange rate regime generates identifiable welfare losses of 2-8 percent of GDP on import markets and up to 15 percent on export markets. These excess burdens have increased substantially with the growing difference among exchange rates. The welfare analysis allows some conclusions regarding the optimal reform strategy: (i) welfare losses will decline overproportionally as exchange rates unify, (ii) exchange rate unification should be supplemented by changing the explicit fiscal system; (iii) at a minimum, Uzbekistan would benefit from moving to an explicit fiscal regime. Copyright 2001, International Monetary Fund

Suggested Citation

  • By Christoph B. Rosenberg & Maarten de Zeeuw, 2001. "Welfare Effects of Uzbekistanís Foreign Exchange Regime," IMF Staff Papers, Palgrave Macmillan, vol. 48(1), pages 1-6.
    • Handle: RePEc:pal:imfstp:v:48:y:2001:i:1:p:6
    as

    Download full text from publisher

    File URL: http://www.imf.org/External/Pubs/FT/staffp/2001/01a/pdf/rosenber.pdf
    File Function: main text
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Carmen M. Reinhart, 1995. "Devaluation, Relative Prices, and International Trade: Evidence from Developing Countries," IMF Staff Papers, Palgrave Macmillan, vol. 42(2), pages 290-312, June.
    2. International Monetary Fund, 1998. "Uzbekistan: Recent Economic Developments," IMF Staff Country Reports 1998/116, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. MacDonald, Stephen, 2012. "Economic Policy and Cotton in Uzbekistan," MPRA Paper 70882, University Library of Munich, Germany.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Cook, David & Devereux, Michael B., 2006. "External currency pricing and the East Asian crisis," Journal of International Economics, Elsevier, vol. 69(1), pages 37-63, June.
    2. Xu, Xinpeng, 2002. "The dynamic-optimizing approach to import demand: a structural model," Economics Letters, Elsevier, vol. 74(2), pages 265-270, January.
    3. Abdelhak Senhadji, 1998. "Time-Series Estimation of Structural Import Demand Equations: A Cross-Country Analysis," IMF Staff Papers, Palgrave Macmillan, vol. 45(2), pages 236-268, June.
    4. Shahe Emran, M. & Shilpi, Forhad, 1996. "Foreign exchange rationing and the aggregate import demand function," Economics Letters, Elsevier, vol. 51(3), pages 315-322, June.
    5. Martha Misas & Maria Teresa Ramirez, 2004. "Long-run income and price elasticities of demand for Colombian nontraditional exports: a multivariate cointegration framework," Applied Economics, Taylor & Francis Journals, vol. 36(9), pages 931-938.
    6. Jarko Fidrmuc & Pavel Ciaian & d'Artis Kancs & Jan Pokrivcak, 2013. "Credit Constraints, Heterogeneous Firms and Loan Defaults," Annals of Economics and Finance, Society for AEF, vol. 14(1), pages 53-68, May.
    7. Mamoru Nagano, 2005. "Investment And Export-Led Industrialization: Financial Constraints And Export Promotion Of East Asian Firms," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 30(1), pages 81-93, June.
    8. Obudah, Bodiseowei C. & Tombofa, Steve S., 2014. "The Impact of Exchange Rate Movements on Trade Balance in Nigeria’s Open-Economy - L’impatto delle variazioni dei tassi di cambio sulla bilancia commerciale della Nigeria," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 67(1), pages 111-125.
    9. Amjad Ali & Muhammad Irfan Chani, 2013. "Disaggregated Import Demand Function: A Case Study of Pakistan," International Journal of Economics and Empirical Research (IJEER), The Economics and Social Development Organization (TESDO), vol. 1(1), pages 1-14, January.
    10. Jiranyakul, Komain & Brahmasrene, Tantatape, 2002. "An Analysis of the Determinants of Thailand’s Exports and Imports wtih Major Trading Partners," MPRA Paper 45080, University Library of Munich, Germany.
    11. repec:diw:diwwpp:dp1247 is not listed on IDEAS
    12. Juan Manuel Candelo-Viafara & Andrés Oviedo-Gómez, 2021. "La tasa de cambio y sus impactos en los agregados económicos colombianos: una aproximación FAVAR," Revista Facultad de Ciencias Económicas, Universidad Militar Nueva Granada, vol. 29(2), pages 121-142, October.
    13. Marcela Meléndez Arjona & Guillermo Perry, 2009. "Industrial policies in Colombia," Working Papers Series. Documentos de Trabajo 9138, Fedesarrollo.
    14. Guglielmo Maria Caporale & Luis Alberiko Gil-Alana & Robert Mudida, 2015. "Testing the Marshall–Lerner Condition in Kenya," South African Journal of Economics, Economic Society of South Africa, vol. 83(2), pages 253-268, June.
    15. Wehrheim, Peter & Schoeller-Schletter, Anja & Martius, Christopher (ed.), 2008. "Continuity and change: land and water use reforms in rural Uzbekistan. Socio-economic and legal analyses for the region Khorezm," Studies on the Agricultural and Food Sector in Transition Economies, Leibniz Institute of Agricultural Development in Transition Economies (IAMO), volume 43, number 92320.
    16. Thomas Reininger, 2008. "Factors Driving Import Demand in Selected Central, Eastern and Southeastern European Countries," Focus on European Economic Integration, Oesterreichische Nationalbank (Austrian Central Bank), issue 1, pages 100-125.
    17. Alejandro Torres García & Thomas Goda & Santiago Sanchez Gonzalez & Adriana Romero Villanueva, 2017. "Efectos diferenciales de la tasa de cambio real sobre el comercio internacional en Colombia," Documentos de Trabajo de Valor Público 15662, Universidad EAFIT.
    18. Lavee, Doron & Beniad, Gilat & Moshe-Jantzis, Moran, 2013. "Israel's foreign trade policy: The benefits of its reform," Journal of Policy Modeling, Elsevier, vol. 35(2), pages 255-270.
    19. J.M. Ananda Jayawickrama, 2009. "Modelling Trade Sector and Trade Shocks in a Small Open Economy," South Asia Economic Journal, Institute of Policy Studies of Sri Lanka, vol. 10(1), pages 81-103, January.
    20. M. Shahe Emran & Forhad Shilpi, 2001. "Foreign Trade Regimes and Import Demand Function: Evidence from Sri Lanka," International Trade 0012002, University Library of Munich, Germany, revised 04 Apr 2002.
    21. Nasri Harb, 2005. "Import demand in heterogeneous panel setting," Applied Economics, Taylor & Francis Journals, vol. 37(20), pages 2407-2415.

    More about this item

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • H29 - Public Economics - - Taxation, Subsidies, and Revenue - - - Other

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:imfstp:v:48:y:2001:i:1:p:6. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave-journals.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.