Exchange Rate Regimes and Macroeconomic Performance in South Asia
AbstractStylized facts for South Asia show the dominance of supply shocks, amplified by macroeconomic policies and procyclical current accounts. Interest and exchange rate volatility rose initially on liberalization, but fell as markets deepened. A gradual middling through approach to openness and market development are helping the region absorb shocks without reducing growth. Diverse sources of demand, flexible exchange rates, robust domestic savings, and changing political preferences are contributing. Countercyclical policy more suited to structure, and removal of distortions raising costs, would allow better coordination of monetary and fiscal polices to further support the process.[WP-2010-005]
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Date of creation: Jun 2010
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South Asia; supply shocks; flexible exchange rates; diversity; distortions;
Other versions of this item:
- Ashima Goyal, 2010. "Exchange rate regimes and macroeconomic performance in South Asia," Indira Gandhi Institute of Development Research, Mumbai Working Papers 2010-005, Indira Gandhi Institute of Development Research, Mumbai, India.
- Ashima Goyal, 2010. "Exchange Rate Regimes and Macroeconomic Performance in South Asia," Macroeconomics Working Papers 22779, East Asian Bureau of Economic Research.
- E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
- E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-06-18 (All new papers)
- NEP-MAC-2010-06-18 (Macroeconomics)
- NEP-MON-2010-06-18 (Monetary Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Ashima Goyal, 2011.
"Sustainable debt and deficits in Emerging Markets,"
International Journal of Trade and Global Markets,
Inderscience Enterprises Ltd, vol. 4(2), pages 113-136.
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- Ashima Goyal, .
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MPDD Working Paper Series
WP/11/14, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).
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