NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Exchange Rates in Emerging Countries: Eleven Empirical Regularities from Latin America and East Asia

Sebastian Edwards

NBER Working Paper No. 17074
Issued in May 2011
NBER Program(s):   IFM   ITI

In this paper I discuss some of the most important lessons on exchange rate policies in emerging markets during the last 35 years. The analysis is undertaken from the perspective of both the Latin American and East Asian nations. Some of the topics addressed include: the relationship between exchange rate regimes and growth, the costs of currency crises, the merits of “dollarization,” the relation between exchange rates and macroeconomic stability, monetary independence under alternative exchange rate arrangements, and the effects of the recent global “currency wars” on exchange rates in commodity exporters.

download in pdf format
   (227 K)

email paper

This paper is available as PDF (227 K) or via email.

Machine-readable bibliographic record - MARC, RIS, BibTeX

Document Object Identifier (DOI): 10.3386/w17074

Published: “Exchange-Rate Policies in Emerging Countries: Elev en Empirical Regularities from Latin America and East Asia,” Open Economies Review , vol. 22, no. 4, September 2011, pp. 533-63.

Users who downloaded this paper also downloaded these:
Freeman w5451 Why Do So Many Young American Men Commit Crimes and What Might We Do About It?
Benigno, Benigno, and Nisticò w17133 Risk, Monetary Policy and the Exchange Rate
Engel w17116 The Real Exchange Rate, Real Interest Rates, and the Risk Premium
Aizenman, Edwards, and Riera-Crichton w17692 Adjustment patterns to commodity terms of trade shocks: the role of exchange rate and international reserves policies
Edwards and Savastano w7228 Exchange Rates in Emerging Economies: What Do We Know? What Do We Need to Know?
 
Publications
Activities
Meetings
NBER Videos
Data
People
About

Support
National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us