LEADER 05115oam 22010454 450 001 9910812133003321 005 20240402050600.0 010 $a1-4623-6184-6 010 $a1-4527-3596-4 010 $a9786612841507 010 $a1-282-84150-5 010 $a1-4518-7057-4 035 $a(CKB)3170000000055101 035 $a(EBL)1608007 035 $a(SSID)ssj0000944022 035 $a(PQKBManifestationID)11528592 035 $a(PQKBTitleCode)TC0000944022 035 $a(PQKBWorkID)10978599 035 $a(PQKB)10125518 035 $a(OCoLC)762167491 035 $a(IMF)WPIEE2008199 035 $a(MiAaPQ)EBC1608007 035 $a(EXLCZ)993170000000055101 100 $a20020129d2008 uf 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aEfficiency Costs of Myanmar?s Multiple Exchange Rate Regime /$fMasahiro Hori, Yu Ching Wong 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2008. 215 $a1 online resource (32 p.) 225 1 $aIMF Working Papers 225 0$aIMF working paper ;$vWP/08/199 300 $aDescription based upon print version of record. 311 $a1-4519-1510-1 320 $aIncludes bibliographical references. 327 $aContents; 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 327 $a4. 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) 330 3 $aMyanmar's multiple exchange rate system creates various economic distortions. This paper describes the exchange rate practices in Myanmar, develops a model of foreign exchange markets, and presents the efficiency costs imposed by quasi-fiscal operation under the current exchange rate regime. The results of our model-based analyses indicate that the equilibrium exchange rate under the unified market could be at around K 400-500 per U.S. dollar, and using the equilibrium exchange rate (instead of the official exchange rate) as the accounting rate increases trade openness to more than 20 percent from less than 1 percent measured by official statistics. The total efficiency loss caused by the current multiple exchange rate regime is estimated at about 14-17 percent of GDP in 2006/07. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2008/199 606 $aForeign exchange rates$zBurma$xEconometric models 606 $aEconomic policy$xEconometric models 606 $aForeign exchange rates$xEconometric models 606 $aExports and Imports$2imf 606 $aForeign Exchange$2imf 606 $aMacroeconomics$2imf 606 $aPublic Enterprises$2imf 606 $aPublic-Private Enterprises$2imf 606 $aTrade: General$2imf 606 $aCurrency$2imf 606 $aForeign exchange$2imf 606 $aCivil service & public sector$2imf 606 $aInternational economics$2imf 606 $aExchange rates$2imf 606 $aPublic sector$2imf 606 $aExports$2imf 606 $aMarket exchange rates$2imf 606 $aExchange rate arrangements$2imf 606 $aFinance, Public$2imf 607 $aBurma$xEconomic policy$xEconometric models 607 $aMyanmar$2imf 615 0$aForeign exchange rates$xEconometric models. 615 0$aEconomic policy$xEconometric models. 615 0$aForeign exchange rates$xEconometric models. 615 7$aExports and Imports 615 7$aForeign Exchange 615 7$aMacroeconomics 615 7$aPublic Enterprises 615 7$aPublic-Private Enterprises 615 7$aTrade: General 615 7$aCurrency 615 7$aForeign exchange 615 7$aCivil service & public sector 615 7$aInternational economics 615 7$aExchange rates 615 7$aPublic sector 615 7$aExports 615 7$aMarket exchange rates 615 7$aExchange rate arrangements 615 7$aFinance, Public 676 $a332.45 700 $aHori$b Masahiro$01621234 701 $aWong$b Yu Ching$01621235 801 0$bDcWaIMF 906 $aBOOK 912 $a9910812133003321 996 $aEfficiency Costs of Myanmar?s Multiple Exchange Rate Regime$93954415 997 $aUNINA