Exchange Rate Regimes by Vijay Joshi | World Economics Journal

Exchange Rate Regimes

Is there a third way?

• Author(s): Vijay Joshi • Published: December 2003
• Pages in paper: 22

Abstract

This paper argues that (a) for many developing countries, the optimal external payments regime would be a combination of an intermediate exchange rate with capital controls and (b) the policy stance and advice of the IMF should reflect this judgement. The paper uses India as a case study to illustrate its argument.

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