Floating Exchange Rates in Africa [electronic resource]
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TextSeries: IMF Working Papers; Working Paper ; No. 88/47Publication details: Washington, D.C. : International Monetary Fund, 1988Description: 1 online resource (58 p.)ISBN: 1451972717 :ISSN: 1018-5941Subject(s): Exchange Markets | Exchange Rate | Exchange Rates | Floating Exchange Rate | Foreign Exchange | Congo, Democratic Republic of the | Gambia, The | Sierra Leone | Uganda | ZambiaAdditional physical formats: Print Version:: Floating Exchange Rates in AfricaOnline resources: IMF e-Library | IMF Book Store Abstract: The paper examines the experiences of nine African countries that have introduced floating exchange rate regimes in the 1980s. The various types of market arrangements are explored, focusing on the roles of market participants. After a review of exchange rate developments under the regimes, some related concerns with respect to urban income and employment, resource allocation, and short-term instability are analyzed. In the light of this analysis, the paper suggests some policy recommendations aimed at ensuring the success of the floating regimes.
The paper examines the experiences of nine African countries that have introduced floating exchange rate regimes in the 1980s. The various types of market arrangements are explored, focusing on the roles of market participants. After a review of exchange rate developments under the regimes, some related concerns with respect to urban income and employment, resource allocation, and short-term instability are analyzed. In the light of this analysis, the paper suggests some policy recommendations aimed at ensuring the success of the floating regimes.
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