The Choice of Exchange Rate Regime in Developing and Middle Income Countries

Sebastian Edwards, Changes in Exchange Rates in Rapidly Developing Countries: Theory, Practice, and Policy Issues (University of Chicago Press, 1999), chap. 1, https://www.nber.org/books-and-chapters/changes-exchange-rates-rapidly-developing-countries-theory-practice-and-policy-issues/choice-exchange-rate-regime-developing-and-middle-income-countries.