Evolution and Performance of Exchange Rate Regimes

Evolution and Performance of Exchange Rate Regimes presents the important role played by international capital flows and domestic financial systems in determining its performance in the policy debate. Written by former chief economist at the International Monetary Fund, Kenneth Rogoff, it explains that for countries at a relatively early stage of financial development and integration, fixed or relatively rigid regimes appear to offer some anti-inflation credibility gain without compromising growth objectives. This book also discusses that as economies and their institutions mature, the value of exchange rate flexibility increases.