Exchange Rate Arrangements for the Emerging Market Economies
- Felipe Larraín, Andrés Velasco
- Occasional Paper
- Exchange Rates, Emerging Markets
This paper reviews the recent performance of alternative exchange rate arrangements in emerging markets, examines the concrete circumstances under which either a fixed or floating rate regime should be adopted, studies how to make flexibility work in practice, and focuses on the possible role of capital controls as a complementary policy.
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