05314oam 22011294 450 991096191660332120250426110841.0978661284150797814623618471462361846978145273596214527359649781282841505128284150597814518705721451870574(CKB)3170000000055101(EBL)1608007(SSID)ssj0000944022(PQKBManifestationID)11528592(PQKBTitleCode)TC0000944022(PQKBWorkID)10978599(PQKB)10125518(OCoLC)762167491(IMF)WPIEE2008199(MiAaPQ)EBC1608007(IMF)WPIEA2008199WPIEA2008199(EXLCZ)99317000000005510120020129d2008 uf 0engurcnu||||||||txtccrEfficiency Costs of Myanmar’s Multiple Exchange Rate Regime /Masahiro Hori, Yu Ching Wong1st ed.Washington, D.C. :International Monetary Fund,2008.1 online resource (32 p.)IMF Working PapersIMF working paper ;WP/08/199Description based upon print version of record.9781451915105 1451915101 Includes bibliographical references.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 Trade4. 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)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.IMF Working Papers; Working Paper ;No. 2008/199Foreign exchange ratesBurmaEconometric modelsEconomic policyEconometric modelsForeign exchange ratesEconometric modelsCivil service & public sectorimfCurrencyimfExchange rate arrangementsimfExchange ratesimfExports and ImportsimfExportsimfFinance, PublicimfForeign ExchangeimfForeign exchangeimfInternational economicsimfMacroeconomicsimfMarket exchange ratesimfPublic EnterprisesimfPublic sectorimfPublic-Private EnterprisesimfTrade: GeneralimfBurmaEconomic policyEconometric modelsMyanmarimfForeign exchange ratesEconometric models.Economic policyEconometric models.Foreign exchange ratesEconometric models.Civil service & public sectorCurrencyExchange rate arrangementsExchange ratesExports and ImportsExportsFinance, PublicForeign ExchangeForeign exchangeInternational economicsMacroeconomicsMarket exchange ratesPublic EnterprisesPublic sectorPublic-Private EnterprisesTrade: General332.45Hori Masahiro1815640Wong Yu Ching1815641DcWaIMFBOOK9910961916603321Efficiency Costs of Myanmar’s Multiple Exchange Rate Regime4371107UNINA