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What Did You Do in the Currency Wars? (Part II)Tony Addison The present currency turmoil is both a product and a cause of profound changes now underway in the global economy. Part 1 of this two...
Tony Addison The present currency turmoil is both a product and a cause of profound changes now underway in the global economy. Part 1 of this two...
Tony Addison The present currency turmoil is both a symptom and a cause of profound changes now underway in the global economy. In part 1 of this two...
This special issue of the Journal of International Development presents the results of a study initiated two years ago by UNU/WIDER on `The impact of the liberalization of the exchange rate and financial markets in sub-Saharan Africa'. The project...
This is an open access title available under the terms of a CC BY-NC-SA 3.0 IGO licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. International financial crises...
Part of Book Resetting the International Monetary (Non)System
Part of Book Resetting the International Monetary (Non)System
In this paper I estimate a non-traditional export performance equation for a panel of 60 developing countries. As an input to the export model, I also estimate a panel regression model of the real exchange rate (RER) for the same countries. The RER...
This paper analyses the rationale of interventions in foreign exchange markets in Sub- Saharan Africa and reviews exchange rate theory and balance of payments management and its application to African countries. It analyses the liberalization of...
The paper determines an analytical framework defining the choice of an optimal exchange rate regime for a typical CFA country. The policymakers behave strategically to decide to adopt alternative exchange rate regime by minimizing their loss function...
It is argued that the theoretical literature on dual exchange markets has completely neglected the form of central bank intervention emphasized by the "classics". They advocated neutral intervention where the central bank sells in the capital market...
This paper analyzes the short-term effects of foreign capital flows on aggregate demand in Mexico: their magnitude, transmission channels, and the possible influence of the country’s choice of exchange rate regime. The study is motivated by the...
This paper analyses in depth the causes of the Mexican peso crisis, so as to learn relevant lessons for similar crisis occurring in other developing or transitional economies. The study follows a relatively chronological order, examining first the...
Four "gaps" or restrictions on capacity growth -- from available saving and foreign exchange, investment demand (with crowding-in of private by public capital formation), and ex ante discrepancies between inflation rates needed on the one hand to...
Since the mid-1970s, Chile's exports have expanded at a fast rate, and the export basket has diversified considerably, away from copper towards other primary commodities and commodity-intensive manufactures. This paper explores the causal factors and...