IDEAS home Printed from https://ideas.repec.org/p/imf/imfwpa/2000-061.html
   My bibliography  Save this paper

Welfare Effects of Uzbekistan's Foreign Exchange Regime

Author

Listed:
  • International Monetary Fund

Abstract

In addition to transferring about 16 percent of GDP from exporters to importers, Uzbekistan’s quasi-fiscal multiple exchange rate regime generates identifiable welfare losses of 2-8 percent of GDP on import markets and up to 15 percent on export markets. These excess burdens have increased substantially with the growing difference of exchange rates. The welfare analysis allows some conclusions regarding the optimal reform strategy: (i) welfare losses will decline overproportionally as exchange rates unify; (ii) exchange rate unification should be supplemented by changing the explicit fiscal system; (iii) at a minimum, Uzbekistan would benefit from moving to an explicit fiscal regime.

Suggested Citation

  • International Monetary Fund, 2000. "Welfare Effects of Uzbekistan's Foreign Exchange Regime," IMF Working Papers 2000/061, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2000/061
    as

    Download full text from publisher

    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=3513
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Edward R. Gemayel & David A. Grigorian, 2006. "How Tight is Too Tight? A Look at Welfare Implications of Distortionary Policies in Uzbekistan," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 3(2), pages 239-261, December.
    2. Martin Spechler, 2003. "Returning to Convertibility in Uzbekistan?," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 6(1), pages 51-56.
    3. Frank Hespeler, 2013. "A VECM evaluation of monetary transmission in Uzbekistan," Economic Change and Restructuring, Springer, vol. 46(2), pages 219-253, May.
    4. Mr. Aleh Tsyvinski & Mr. Martin Petri & Mr. Günther Taube, 2002. "Energy Sector Quasi-Fiscal Activities in the Countries of the Former Soviet Union," IMF Working Papers 2002/060, International Monetary Fund.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:imf:imfwpa:2000/061. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Akshay Modi (email available below). General contact details of provider: https://edirc.repec.org/data/imfffus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.