Efficiency Costs of Myanmar’s Multiple Exchange Rate Regime
By:Masahiro Hori,Yu Ching Wong
Published on 2008-08-01 by International Monetary Fund
Myanmar''s multiple exchange rate system creates various economic distortions. This paper describes the exchange rate practices in Myanmar, develops a model of foreign exchange markets, and presents the efficiency costs imposed by quasi-fiscal operation under the current exchange rate regime. The results of our model-based analyses indicate that the equilibrium exchange rate under the unified market could be at around K 400-500 per U.S. dollar, and using the equilibrium exchange rate (instead of the official exchange rate) as the accounting rate increases trade openness to more than 20 percent from less than 1 percent measured by official statistics. The total efficiency loss caused by the current multiple exchange rate regime is estimated at about 14-17 percent of GDP in 2006/07.
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Book ID of Efficiency Costs of Myanmar’s Multiple Exchange Rate Regime's Books is XastGB47NKYC, Book which was written byMasahiro Hori,Yu Ching Wonghave ETAG "Yrg2xGUq0ks"
Book which was published by International Monetary Fund since 2008-08-01 have ISBNs, ISBN 13 Code is 9781451915105 and ISBN 10 Code is 1451915101
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