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Costs of Myanmar's multiple exchange-rate regime

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  • Masahiro Hori
  • Yu Ching Wong

Abstract

Myanmar's multiple exchange-rate regime creates various economic distortions. This paper describes the exchange-rate practices in Myanmar and develops a model of foreign exchange markets to estimate the welfare costs imposed by the current regime. Our analysis suggests that the equilibrium exchange rate could be around 400--500 kyat per US dollar, and trade openness measured using the equilibrium rate increases to more than 20% of gross domestic product (GDP) from less than 1% in the official statistics. The total welfare loss caused by the current regime is estimated to be in the order of 14--17% of GDP.

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File URL: http://hdl.handle.net/10.1080/09638199.2011.555561
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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal The Journal of International Trade & Economic Development.

Volume (Year): 22 (2013)
Issue (Month): 2 (March)
Pages: 209-233

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Handle: RePEc:taf:jitecd:v:22:y:2013:i:2:p:209-233

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Cited by:
  1. Kubo, Koji, 2013. "Sources of fluctuations in parallel exchange rates and policy reform in Myanmar," IDE Discussion Papers 388, Institute of Developing Economies, Japan External Trade Organization(JETRO).

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