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Efficiency costs of Myanmar's multiple exchange rate regime /
Myanmar's multiple exchange rate system creates various economic distortions. This paper describes the exchange rate practices in Myanmar, develops a model of foreign exchange markets, and presents the efficiency costs imposed by quasi-fiscal operation under the current exchange rate regime. Th...
| Clasificación: | Libro Electrónico |
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| Autores principales: | , |
| Autor Corporativo: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington, D.C. :
International Monetary Fund,
©2008.
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| Colección: | IMF working paper ;
WP/08/199. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | Myanmar's multiple exchange rate system creates various economic distortions. This paper describes the exchange rate practices in Myanmar, develops a model of foreign exchange markets, and presents the efficiency costs imposed by quasi-fiscal operation under the current exchange rate regime. The results of our model-based analyses indicate that the equilibrium rate under the unified market could be at around K 400-500 per U.S. dollar, and using the equilibrium exchange rate (instead of the official exchange rate) as the accounting rate increases trade openness to more than 20 percent from less than 1 percent measured by official statistics. The total efficiency loss caused by the current multiple exchange rate regime is estimated at about 14-17 percent of GDP in 2006/07. |
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| Notas: | At head of title: Asia and Pacific Department. "August 2008." |
| Descripción Física: | 1 online resource (30 pages) : illustrations |
| Bibliografía: | Includes bibliographical references (page 21). |
| ISBN: | 1451915101 9781451915105 9781451870572 1451870574 1462361846 9781462361847 1452735964 9781452735962 9786612841507 6612841508 1282841505 9781282841505 |