Choice of exchange rate system

Author: Wen Xuan
Publisher:
Publish Date: 2006-10-01
Features: Since the 1990s, the emergence of financial institutions has led to a rethinking of exchange rate regime choices, particularly how developing countries should select their exchange rate regimes, and has sparked debates over "middle" and "two-polar" exchange rate regimes. This issue is also directly related to the recent intense international and domestic discussions on the appreciation of the RMB and the repositioning of China's exchange rate regime. This book systematically reviews and evaluates previous research literature, delves into the characteristics, advantages, disadvantages, and choice constraints of China's middle and two-polar exchange rate regimes, and pioneers the consideration of some institutional and structural factors to be taken into account when choosing between middle and two-polar exchange rate regimes. It makes some pioneering contributions to the research on exchange rate regime choice theory.