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Record Nr. |
UNINA9910816283003321 |
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Autore |
Iimi Atsushi |
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Titolo |
Exchange Rate Misalignment : : An Application of the Behavioral Equilibrium Exchange Rate (BEER) to Botswana / / Atsushi Iimi |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2006 |
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ISBN |
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1-4623-5586-2 |
1-4527-3097-0 |
1-283-51269-6 |
1-4527-0135-0 |
9786613825148 |
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Edizione |
[1st ed.] |
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Descrizione fisica |
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1 online resource (31 p.) |
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Collana |
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Soggetti |
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Foreign exchange rates - Botswana |
Foreign exchange market - Botswana |
Financial crises - Botswana |
Currencies |
Currency |
Exchange rate arrangements |
Exchange rates |
Foreign Exchange |
Foreign exchange |
Government and the Monetary System |
Monetary economics |
Monetary Systems |
Money and Monetary Policy |
Money |
Payment Systems |
Real effective exchange rates |
Real exchange rates |
Regimes |
Standards |
Botswana |
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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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At head of title: African Department. |
"June 2006." |
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Nota di bibliografia |
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Includes bibliographical references (p. 27-29). |
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Nota di contenuto |
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""Contents""; ""I. INTRODUCTION""; ""II. THE LITERATURE""; ""III. RECENT DEVELOPMENTS IN EXCHANGE RATES IN BOTSWANA""; ""IV. ANALYTICAL FRAMEWORK""; ""V. ESTIMATION RESULTS""; ""VI. DISCUSSION""; ""VII. CONCLUSION""; ""EXPERIENCES OF OTHER COUNTRIES ADOPTING CRAWLING PEG ARRANGEMENTS""; ""REFERENCES"" |
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Sommario/riassunto |
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Botswana's successive currency devaluations and recent move from a fixed to a crawling peg exchange rate regime raise the question of whether the exchange rate might be misaligned with economic fundamentals. This paper, applying the behavioral equilibrium exchange rate (BEER) approach, analyzes the behavior of the real exchange rate for the period 1985-2004. It finds that the pula was undervalued in the later 1980s but overvalued in recent years. Some policy lessons from experiences in other countries with crawling peg arrangements are therefore considered in the context of Botswana. |
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