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Where do we Stand on Choosing Exchange Rate Regimes in Developing and Emerging Economies?

In: International Finance and the Developing Economies

Author

Listed:
  • Graham Bird

    (University of Surrey)

Abstract

The question of what is the best exchange rate regime for a country to adopt has been an important part of the macroeconomic policy debate for as long as here has been a debate about macroeconomic policy. It has indeed sometimes been the dominant issue. An historical review could easily go back to the nineteenth century and the debate over the gold standard and the bimetallic standard, or could go back to the interwar period and the debate over the return to gold and the abandonment of the gold standard in favour of exchange rate flexibility. Or it could focus on the exchange rate arrangements incorporated into the Bretton Woods system devised in 1944 and the final collapse of those arrangements in favour of generalised flexible exchange rates in 1973.

Suggested Citation

  • Graham Bird, 2004. "Where do we Stand on Choosing Exchange Rate Regimes in Developing and Emerging Economies?," Palgrave Macmillan Books, in: International Finance and the Developing Economies, chapter 3, pages 34-50, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-0-230-59984-0_3
    DOI: 10.1057/9780230599840_3
    as

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    Cited by:

    1. Julio Guzman, 2014. "Social Protection and Private Coping Strategies During Recessions: Evidence from Chile," Working Papers wp_041, Adolfo Ibáñez University, School of Government.
    2. George S. Tavlas, 2003. "The Economics of Exchange‐Rate Regimes: A Review Essay," The World Economy, Wiley Blackwell, vol. 26(8), pages 1215-1246, August.
    3. Bird, Graham & Rowlands, Dane, 2009. "Exchange Rate Regimes in Developing and Emerging Economies and the Incidence of IMF Programs," World Development, Elsevier, vol. 37(12), pages 1839-1848, December.
    4. Graham Bird & Ramkishen Rajan, 2002. "The Evolving Asian Financial Architecture," Centre for International Economic Studies Working Papers 2002-03, University of Adelaide, Centre for International Economic Studies.
    5. Graham Bird & Dane Rowlands, 2005. "Bi-Polar Disorder: Exchange Rate Regimes, Economic Crises and the IMF," School of Economics Discussion Papers 0705, School of Economics, University of Surrey.
    6. Bird, Graham & Mandilaras, Alex, 2006. "Regional heterogeneity in the relationship between fiscal imbalances and foreign exchange market pressure," World Development, Elsevier, vol. 34(7), pages 1171-1181, July.

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