Research Catalog

Title

Changes in exchange rates in rapidly developing countries : theory, practice, and policy issues / edited by Takatoshi Ito and Anne O. Krueger.

Publication

Chicago, Ill. : University of Chicago Press, [1999], ©1999.

Items in the Library & Off-site

Holdings

Details

Additional Authors

• Itō, Takatoshi, 1950-
• Krueger, Anne O.

Description

xi, 450 pages : illustrations; 24 cm.

Summary

• Choice of an exchange rate regime is a central component in the economic policy of developing countries and a key factor affecting economic growth. Historically, most developing nations have employed strict exchange rate controls and heavy protection of domestic industry - policies now thought to be at odds with sustainable and desirable rates of economic growth.
• By contrast, many East Asian nations maintained exchange rate regimes designed to achieve an attractive climate for exports and an "outer-oriented" development strategy. The result has been rapid and consistent economic growth over the past few decades.
• Changes in Exchange Rates in Rapidly Developing Countries explores the impact of such diverse exchange control regimes in both historical and regional contexts, focusing particular attention on East Asia. This comprehensive, carefully researched volume will surely become a standard reference for scholars and policymakers.

Series Statement

NBER-East Asia seminar on economics ; v. 7

Uniform Title

NBER-East Asia Seminar on Economics (Series) ; v. 7.

Subjects

• Foreign exchange > Government policy > East Asia > Congresses
• Foreign exchange > Government policy > Developing countries > Congresses
• Foreign exchange rates > Developing countries > Congresses
• Foreign exchange rates > East Asia > Congresses

Bibliography (note)

• Includes bibliographical references and indexes.

Contents

• Introduction / Takatoshi Ito and Anne O. Krueger -- 1. The Choice of Exchange Rate Regime in Developing and Middle Income Countries / Sebastian Edwards -- Comment / Anne O. Krueger -- Comment / Andrew K. Rose -- 2. Contagious Currency Crises: Channels of Conveyance / Barry Eichengreen and Andrew K. Rose -- Comment / Takatoshi Ito -- Comment / Ronald I. McKinnon -- 3. Current Account Deficits and Capital Flows in East Asia and Latin America: Are the Early Nineties Different from the Early Eighties? / Gian Maria Milesi-Ferretti and Assaf Razin -- Comment / Koichi Hamada -- Comment / Andrew K. Rose -- 4. Economic Growth and Real Exchange Rate: An Overview of the Balassa-Samuelson Hypothesis in Asia / Takatoshi Ito, Peter Isard and Steven Symansky -- Comment / Kenichi Ohno -- Comment / Anne O. Krueger -- 5. Resource Endowments and the Real Exchange Rate: A Comparison of Latin America and East Asia / Jeffrey D. Sachs -- Comment / Kazuo Ueda --
• 6. Private Consumption, Nontraded Goods, and Real Exchange Rate: Evidence from South Korea and Taiwan / Kenneth S. Lin -- Comment / Yun-Wing Sung -- Comment / Gian Maria Milesi-Ferretti -- 7. The Yen and Its East Asian Neighbors, 1980-1995: Cooperation or Competition? / Shinji Takagi -- Comment / Tetsuji Okazaki -- Comment / K. C. Fung -- 8. Exchange Rate Pass-through and Industry Characteristics: The Case of Taiwan's Exports of Midstream Petrochemical Products / Kuo-Liang Wang and Chung-Shu Wu -- Comment / Kenichi Ohno -- Comment / Y. C. Jao -- 9. Evaluation of Korea's Exchange Rate Policy / Sang-Woo Nam and Se-Jong Kim -- Comment / Stanley W. Black -- Comment / Leonard K. Cheng -- 10. Issues in Korean Exchange Rate Policy / Stanley W. Black -- Comment / Chong-Hyun Nam -- Comment / Baekin Cha -- 11. Liberalization of Capital Flows in Korea: Big Bang or Gradualism? / Dongchul Cho and Youngsun Koh -- Comment / Chong-Hyun Nam -- Comment / Koichi Hamada --
• 12. The Foreign Exchange Allocation Policy in Postwar Japan: Its Institutional Framework and Function / Tetsuji Okazaki and Takafumi Korenaga -- Comment / Ronald I. McKinnon -- Comment / Shinji Takagi -- 13. The Syndrome of the Ever-Higher Yen, 1971-1995: American Mercantile Pressure on Japanese Monetary Policy / Ronald I. McKinnon, Kenichi Ohno and Kazuko Shirono -- Comment / Kazuo Ueda -- 14. Testing for the Fundamental Determinants of the Long-Run Real Exchange Rate: The Case of Taiwan / Hsiu-Ling Wu -- Comment / Chi-Wa Yuen -- Comment / Ponciano S. Intal, Jr. -- 15. Hong Kong's Currency Board and Changing Monetary Regimes / Yum K. Kwan and Francis T. Lui -- Comment / Barry Eichengreen -- Comment / Zhaoyong Zhang.

ISBN

0226386732 (alk. paper)

LCCN

98033860

OCLC

• 39639998
• ocm39639998

Owning Institutions

Columbia University Libraries