Parallel Exchange Rates in Developing Countries Book

This book examines extensive empirical evidence on the macroeconomic implications of parallel exchange rates in developing countries. Eight case-studies from Africa, Latin America, and Turkey provide detailed evidence on the emergence of parallel exchange rates, their impact on macroeconomic performance, and the criteria for successful exchange-rate unification. A chapter on European dual exchange rates summarizes the contrasting experience of industrial countries. An overview chapter lays out the analytical framework, assesses the evidence, and draws policy conclusions.

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A set of case studies of systems in which a market-determined exchange rate, typically applying to financial transactions but often to a portion of trade transactions as well, coexists with one or more official, typically managed, exchanged rates. The arrangement is very common among non-industrialized countries. Among the countries examines are Argentina, Mexico, Venezuela, Ghana, Sudan, Tanzania, Zambia, and Turkey. A final study contrasts European dual exchange rates. The research was conducted under the auspices of the World Bank to provide empirical evidence to base advising on. Annotation c. by Book News, Inc., Portland, Or.