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Exchange-Rate Policy, International Capital Movements and the Financing of Development

In: Financing Problems of Developing Countries

Author

Listed:
  • Alexandre Kafka

    (International Monetary Fund)

Abstract

The topic assigned to me is potentially vast. Of the many ways of cutting it down, I have thought it most interesting to choose an impressionistic one: namely, to address a few points which seemed particularly interesting from a policy point of view. There is some empirical evidence (particularly relating to ‘developing countries’), but much of the discussion is merely taxonomic. There are, consequently, no firm conclusions. It does not appear, however, that either the exchange-rate system or the exchange rate is a particularly apt instrument for stimulating capital flows and financing development.

Suggested Citation

  • Alexandre Kafka, 1985. "Exchange-Rate Policy, International Capital Movements and the Financing of Development," International Economic Association Series, in: Armin Gutowski & A. A. Arnaúdo & Hans-Eckart Scharrer (ed.), Financing Problems of Developing Countries, chapter 14, pages 268-294, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-06749-7_14
    DOI: 10.1007/978-1-349-06749-7_14
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