Exchange Rate Policy and Monetary Strategy Options in the Philippines : The Search for Stability and Sustainability /
This paper evaluates the Philippines' experience with different exchange regimes since 1970. It argues that the shift to a flexible regime was crucial to restoring external viability and generating an export-led economic take-off, but that mixed performance in meeting money targets and asymmetr...
| Hovedforfatter: | |
|---|---|
| Format: | Tidsskrift |
| Sprog: | English |
| Udgivet: |
Washington, D.C. :
International Monetary Fund,
1997.
|
| Serier: | IMF Policy Discussion Papers; Policy Discussion Paper ;
No. 1997/004 |
| Online adgang: | Full text available on IMF |
| Summary: | This paper evaluates the Philippines' experience with different exchange regimes since 1970. It argues that the shift to a flexible regime was crucial to restoring external viability and generating an export-led economic take-off, but that mixed performance in meeting money targets and asymmetric policy reactions to exchange rate pressures have resulted in an uneven inflation performance. Since adoption of a firm nominal anchor for monetary policy would contribute to a more effective control of inflation and thereby to better prospects for sustained growth, the merits of three monetary strategy options are reviewed: stricter adherence to a money supply rule, adoption of an exchange rate peg, and a switch to direct inflation targeting. |
|---|---|
| Emne beskrivelse: | <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required |
| Fysisk beskrivelse: | 1 online resource (36 pages) |
| Format: | Mode of access: Internet |
| ISSN: | 1934-7456 |
| Adgang: | Electronic access restricted to authorized BRAC University faculty, staff and students |