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Record Nr. |
UNINA9910825687803321 |
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Autore |
Husain Aasim M |
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Titolo |
To peg or not to peg : a template for assessing the nobler / / prepared by Aasim M. Husain |
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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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1-4623-0642-X |
1-4527-6125-6 |
1-283-51570-9 |
1-4519-0850-4 |
9786613828156 |
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Edizione |
[1st ed.] |
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Descrizione fisica |
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1 online resource (29 p.) |
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Collana |
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IMF working paper ; ; WP/06/54 |
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Soggetti |
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Foreign exchange rates |
Foreign exchange administration |
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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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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. DE FACTO REGIMES IN KAZAKHSTAN AND PAKISTAN""; ""III. TEMPLATE""; ""IV. SCORECARD""; ""V. CONCLUSIONS""; ""References"" |
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Sommario/riassunto |
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This paper proposes a template for assessing whether or not a country's economic and financial characteristics make it an appropriate candidate for a pegged exchange rate regime. The template employs quantifiable measures of attributes-trade orientation, financial integration, economic diversification, macroeconomic stabilization, credibility, and "fear-offloating" type effects-that have been identified in the literature as key potential determinants of regime choice. To illustrate, the template is applied to Kazakhstan and Pakistan. The results indicate a fairly strong case against a pegged regime in Pakistan. The implications for Kazakhstan are mixed, although changes in that economy in recent years strengthen the case against a peg. |
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