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- W587470225 abstract "The paper reviews the proximate objectives the exchange rate regimes of developing countries may serve. These objectives include eschewing foreign exchange restrictions, maintaining realistic exchange rates, limiting uncertainty for business decision making, and reducing fluctuations in macroeconomic relationships. It is concluded that, in many instances, these objectives can best be served by the adoption of freely-floating exchange rates. If this alternative is excluded, linking to a basket of currencies is superior to linking to a single currency, except if the latter is the currency in which the bulk of a country's trade is carried out. In the latter case, the requirements of macroeconomic and microeconomic stability may come into conflict." @default.
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- W587470225 date "1987-05-01" @default.
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- W587470225 title "The international monetary system and exchange rate policies in the developing countries" @default.
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