NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Exchange Rates in Emerging Economies: What Do We Know? What Do We Need to Know?

Sebastian Edwards, Miguel A. Savastano

NBER Working Paper No. 7228
Issued in July 1999
NBER Program(s):   IFM

Exchange rates have been at the center of economic debates in emerging economies. Issues related to the feasibility of flexible exchange rates, the relationship between exchange rate volatility and growth, and the role of exchange rate overvaluation in recent crises, among other, have been extensively discussed during the last few years. In this paper we address some of the most important exchange rate-related issues in emerging economies. In particular, we deal with: (a) the merits of alternative exchange rate regimes: (b) the extent to which purchasing power parity holds in the long run in these countries; and (c) models to assess real exchange rate overvaluation. We also discuss future areas for research on exchange rates in the emerging nations.

download in pdf format
   (345 K)

email paper

Machine-readable bibliographic record - MARC, RIS, BibTeX

Document Object Identifier (DOI): 10.3386/w7228

Published: "Floating Exchange Rates in Less-Developed Countries: A Monetary Analysis of the Peruvian Experience, 1950-54", Journal of Money, Credit and Banking, Vol. 15, no. 1 (1983): 73-81.

Users who downloaded this paper also downloaded* these:
Edwards w5756 The Determinants of the Choice between Fixed and Flexible Exchange-Rate Regimes
Froot and Rogoff w4952 Perspectives on PPP and Long-Run Real Exchange Rates
Reinhart w15815 This Time is Different Chartbook: Country Histories on Debt, Default, and Financial Crises
Frankel w10032 Experience of and Lessons from Exchange Rate Regime in Emerging Economies
Edwards w2721 Real and Monetary Determinants of Real Exchange Rate Behavior: Theory and Evidence From Developing Countries
 
Publications
Activities
Meetings
NBER Videos
Themes
Data
People
About

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

Contact Us