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Exchange Rate Misalignment :, An Application of the Behavioral Equilibrium Exchange Rate (BEER) to Botswana, Atsushi Iimi

Abstract
Botswana's successive currency devaluations and recent move from a fixed to a crawling peg exchange rate regime raise the question of whether the exchange rate might be misaligned with economic fundamentals. This paper, applying the behavioral equilibrium exchange rate (BEER) approach, analyzes the behavior of the real exchange rate for the period 1985-2004. It finds that the pula was undervalued in the later 1980s but overvalued in recent years. Some policy lessons from experiences in other countries with crawling peg arrangements are therefore considered in the context of Botswana
Table Of Contents
""Contents""; ""I. INTRODUCTION""; ""II. THE LITERATURE""; ""III. RECENT DEVELOPMENTS IN EXCHANGE RATES IN BOTSWANA""; ""IV. ANALYTICAL FRAMEWORK""; ""V. ESTIMATION RESULTS""; ""VI. DISCUSSION""; ""VII. CONCLUSION""; ""EXPERIENCES OF OTHER COUNTRIES ADOPTING CRAWLING PEG ARRANGEMENTS""; ""REFERENCES""
Language
eng
Literary Form
non fiction
Note
At head of title: African Department
Physical Description
1 online resource (31 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781283512695

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