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Record Nr. |
UNINA9910788231103321 |
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Autore |
Hori Masahiro |
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Titolo |
Efficiency Costs of Myanmar’s Multiple Exchange Rate Regime / / Masahiro Hori, Yu Ching Wong |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2008 |
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ISBN |
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1-4623-6184-6 |
1-4527-3596-4 |
9786612841507 |
1-282-84150-5 |
1-4518-7057-4 |
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Descrizione fisica |
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1 online resource (32 p.) |
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Collana |
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IMF Working Papers |
IMF working paper ; ; WP/08/199 |
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Altri autori (Persone) |
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Disciplina |
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Soggetti |
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Foreign exchange rates - Burma - Econometric models |
Economic policy - Econometric models |
Foreign exchange rates - Econometric models |
Exports and Imports |
Foreign Exchange |
Macroeconomics |
Public Enterprises |
Public-Private Enterprises |
Trade: General |
Currency |
Foreign exchange |
Civil service & public sector |
International economics |
Exchange rates |
Public sector |
Exports |
Market exchange rates |
Exchange rate arrangements |
Finance, Public |
Burma Economic policy Econometric models |
Myanmar |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Description based upon print version of record. |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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Contents; I. Introduction; II. Multiple Exchange Rate Regime in Myanmar; Box 1. Myanmar's Multiple Exchange Rate System; III. A Model for Myanmar's Foreign Exchange Markets; A. Preliminary Considerations; B. Model Description; IV. Quantitative Analyses; V. Sensitivity Analysis; VI. Summary of Findings; References; Figures; 1. Segmented Foreign Exchange Markets and Conceptual Foreign Exchange Rates; 2. Myanmar's Parallel Market Exchange Rate and its Premium over the Official Exchange Rate from 1960; 3. Efficiency Effects in the Public Sector Trade |
4. Efficiency Effects in the Private Sector TradeTables; 1. Net Efficiency Losses Relative to the Value of Trade Flows; 2. Estimated Price Elasticities of Trade Flows in the Earlier Studies; 3. Net Efficiency Loss Estimates under the Baseline Parameters (2004/05-2006/07); 4. Net Efficiency Loss Estimates under the Baseline Parameters (2004/05-2006/07) (Relative to Estimated Nominal GDP); 5. Sensitivity of Estimated Net Efficiency Losses to Assumed Parameters (2006/07) |
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Sommario/riassunto |
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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 exchange 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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