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E-book
Author Hori, Masahiro, 1964- author.

Title Efficiency costs of Myanmar's multiple exchange rate regime / prepared by Masahiro Hori and Yu Ching Wong
Published Washington, D.C. : International Monetary Fund, ©2008

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Description 1 online resource (30 pages) : illustrations
Series IMF working paper ; WP/08/199.
Contents I. Introduction; II. Multiple Exchange Rate Regime in Myanmar; Box 1. Myanmar's Multiple Exchange Rate System; III. A Model for Myanmar's Foreign Exchange Markets; A. Preliminary Considerations; B. Model Description; IV. Quantitative Analyses; V. Sensitivity Analysis; VI. Summary of Findings; References; Figures; 1. Segmented Foreign Exchange Markets and Conceptual Foreign Exchange Rates; 2. Myanmar's Parallel Market Exchange Rate and its Premium over the Official Exchange Rate from 1960; 3. Efficiency Effects in the Public Sector Trade
4. Efficiency Effects in the Private Sector TradeTables; 1. Net Efficiency Losses Relative to the Value of Trade Flows; 2. Estimated Price Elasticities of Trade Flows in the Earlier Studies; 3. Net Efficiency Loss Estimates under the Baseline Parameters (2004/05-2006/07); 4. Net Efficiency Loss Estimates under the Baseline Parameters (2004/05-2006/07) (Relative to Estimated Nominal GDP); 5. Sensitivity of Estimated Net Efficiency Losses to Assumed Parameters (2006/07)
Summary 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 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
Notes At head of title: Asia and Pacific Department
"August 2008."
Bibliography Includes bibliographical references (page 21)
Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL
English
Print version record
digitized 2011 HathiTrust Digital Library committed to preserve pda MiAaHDL
Subject Foreign exchange rates -- Burma -- Econometric models
Economic policy -- Econometric models
Foreign exchange rates -- Econometric models
Wechselkurssystem.
Myanmar.
SUBJECT Burma -- Economic policy -- Econometric models
Subject Burma
Form Electronic book
Author Wong, Yu Ching, author.
International Monetary Fund. Asia and Pacific Department.
ISBN 1451915101
9781451915105
9781451870572
1451870574
1462361846
9781462361847
1452735964
9781452735962
9786612841507
6612841508
1282841505
9781282841505