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Welfare effects of exchange controls: An application to the Haitian economy

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  • Kathleen Dorsainvil

Abstract

This paper estimates monthly welfare losses and the shadow exchange rate that followed a policy of restrictions of access to foreign exchange, in force in the Haitian economy from 1985 to 1991. These losses are substantial. The determinants of the parallel market, another phenomenon consistent with such a policy of restrictions, are also estimated. Copyright International Atlantic Economic Society 2000

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  • Kathleen Dorsainvil, 2000. "Welfare effects of exchange controls: An application to the Haitian economy," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 6(3), pages 427-437, August.
    • Handle: RePEc:kap:iaecre:v:6:y:2000:i:3:p:427-437:10.1007/bf02294962
    DOI: 10.1007/BF02294962
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    References listed on IDEAS

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    4. Greenwood, Jeremy & Kimbrough, Kent P., 1987. "Foreign exchange controls in a black market economy," Journal of Development Economics, Elsevier, vol. 26(1), pages 129-143, June.
    5. Krueger, Anne O, 1974. "The Political Economy of the Rent-Seeking Society," American Economic Review, American Economic Association, vol. 64(3), pages 291-303, June.
    6. Ho, Wai-Ming, 1995. "Foreign exchange controls and liquidity," Journal of International Money and Finance, Elsevier, vol. 14(4), pages 515-538, August.
    7. Stockman, Alan C & Hernandez D, Alejandro, 1988. "Exchange Controls, Capital Controls, and International Financial Markets," American Economic Review, American Economic Association, vol. 78(3), pages 362-374, June.
    8. Adams, Charles & Greenwood, Jeremy, 1985. "Dual exchange rate systems and capital controls: An investigation," Journal of International Economics, Elsevier, vol. 18(1-2), pages 43-63, February.
    9. Phylaktis, Kate, 1991. "The black market for dollars in Chile," Journal of Development Economics, Elsevier, vol. 37(1-2), pages 155-172, November.
    10. Engle, R. F. & Granger, C. W. J. (ed.), 1991. "Long-Run Economic Relationships: Readings in Cointegration," OUP Catalogue, Oxford University Press, number 9780198283393.
    11. Dornbusch, Rudiger & Fischer, Stanley, 1980. "Exchange Rates and the Current Account," American Economic Review, American Economic Association, vol. 70(5), pages 960-971, December.
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    Cited by:

    1. Dorsainvil, Kathleen, 2001. "The parallel market as a policy instrument in collapsing exchange rate regimes," Journal of Economics and Business, Elsevier, vol. 53(1), pages 27-43.

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