Exchange Rate Policies: Fact or Fiction in the Rise of High Performance Asian Economies
Many economists believe that the nature of exchange rate management was an important reason for rapid economic growth in East Asia. In this view, Asian countries avoided extreme exchange rate appreciations and kept their nominal exchange rates close to market clearing levels. In contrast, the inappropriate exchange rate policies pursued by many Latin American and African countries in the late 1970s and 1980s contributed a great deal towards their poor economic performance. This paper challenges the above views on the type of exchange rate policies adopted by the East Asian, Latin American and African countries. The empirical evidence fails to prove that the exchange rate policies of the East Asian economies were significantly different from those of other developing countries.
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.:
- Sebastian Edwards, 1987.
"Exchange Rate Misalignment in Developing Countries,"
UCLA Economics Working Papers
442, UCLA Department of Economics.
- Edwards, Sebastian, 1989. "Exchange Rate Misalignment in Developing Countries," World Bank Research Observer, World Bank Group, vol. 4(1), pages 3-21, January.
- Gordon, D.V. & Sakyi-Bekoe, K., 1990. "Testing the Export-Growth Hypothsis for Ghana," Department of Economics at Dalhousie University working papers archive 90-10, Dalhousie, Department of Economics.
- Rodrik, Dani, 1986. "Disequilibrium exchange rates as industrialization policy," Journal of Development Economics, Elsevier, vol. 23(1), pages 89-106, September.
- Balassa, Bela, 1990. "Incentive policies and export performance in sub-Saharan Africa," World Development, Elsevier, vol. 18(3), pages 383-391, March.
- Sekkat, Khalid & Varoudakis, Aristomene, 2000.
"Exchange rate management and manufactured exports in Sub-Saharan Africa,"
Journal of Development Economics,
Elsevier, vol. 61(1), pages 237-253, February.
- Khalid Sekkat & Aristomene Varoudakis, 2000. "Exchange rate management and manufactured exports in Sub-Saharan Africa," ULB Institutional Repository 2013/7342, ULB -- Universite Libre de Bruxelles.
- Khalid Sekkat & Aristomène Varoudakis, 1998. "Exchange-Rate Management and Manufactured Exports in Sub-Saharan Africa," OECD Development Centre Working Papers 134, OECD Publishing.
- John F. O. Bilson & Richard C. Marston, 1984. "Exchange Rate Theory and Practice," NBER Books, National Bureau of Economic Research, Inc, number bils84-1.
- Ghura, Dhaneshwar & Grennes, Thomas J., 1993. "The real exchange rate and macroeconomic performance in Sub-Saharan Africa," Journal of Development Economics, Elsevier, vol. 42(1), pages 155-174, October.
- Masters, William A. & Ianchovichina, Elena, 1998. "Measuring exchange rate misalignment: Inflation differentials and domestic relative prices," World Development, Elsevier, vol. 26(3), pages 465-477, March.
- Dollar, David, 1992. "Outward-Oriented Developing Economies Really Do Grow More Rapidly: Evidence from 95 LDCs, 1976-1985," Economic Development and Cultural Change, University of Chicago Press, vol. 40(3), pages 523-44, April.
- Sahn, David E. & Dorosh, Paul & Younger, Stephen, 1996. "Exchange rate, fiscal and agricultural policies in Africa: Does adjustment hurt the poor?," World Development, Elsevier, vol. 24(4), pages 719-747, April.
- Merle Holden, 1991. "Real Exchange Rates and their Measurement," South African Journal of Economics, Economic Society of South Africa, vol. 59(1), pages 1-8, 03.
When requesting a correction, please mention this item's handle: RePEc:izm:wpaper:0802. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ayla Ogus Binatli)
If references are entirely missing, you can add them using this form.