Kicking the habit: moving from pegged rates to greater exchange rate flexibility
By: Eichengreen, Barry.
Material type:
ArticlePublisher: 1999Description: p.C-1-14.Subject(s): Exchange rates
In:
Economic JournalSummary: Why do governments find it so difficult to move from pegged exchangte rates to greater exchange rate flexibility? I first establish that there is a problem to be solved: that there are powerful incentives for greater flexibility deriving from changes in the international economic and financial environment but that policymakers find it difficult to engineer a smooth transition. I offer practical suggestions and a framework under which the probability of a smooth transition can be maximised. Drawing examples from recent economic history, I then attempt to understand the experience of selected countries which have undertaken this transition. - Reproduced
| Item type | Current location | Call number | Vol info | Status | Date due | Barcode |
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Articles
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Indian Institute of Public Administration | Volume no: 109, Issue no: 454 | Available | AR41037 |
Why do governments find it so difficult to move from pegged exchangte rates to greater exchange rate flexibility? I first establish that there is a problem to be solved: that there are powerful incentives for greater flexibility deriving from changes in the international economic and financial environment but that policymakers find it difficult to engineer a smooth transition. I offer practical suggestions and a framework under which the probability of a smooth transition can be maximised. Drawing examples from recent economic history, I then attempt to understand the experience of selected countries which have undertaken this transition. - Reproduced
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