Parallel Currency Markets in Developing Countries : Theory, Evidence, and Policy Implications.

The paper reviews recent theoretical and empirical developments in the analysis of informal currency markets in developing countries. The basic characteristics of these markets are highlighted, and alternative analytical models to explain them are discussed. The implications for exchange rate policy...

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Dades bibliogràfiques
Autor corporatiu: International Monetary Fund
Format: Revista
Idioma:English
Publicat: Washington, D.C. : International Monetary Fund, 1990.
Col·lecció:IMF Working Papers; Working Paper ; No. 1990/114
Accés en línia:Full text available on IMF
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520 3 |a The paper reviews recent theoretical and empirical developments in the analysis of informal currency markets in developing countries. The basic characteristics of these markets are highlighted, and alternative analytical models to explain them are discussed. The implications for exchange rate policy -including imposition of foreign exchange restrictions, devaluation, and unification of exchange markets- in countries with a sizable parallel market are also examined. 
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