汇率制度经典论文之六，Sebastian Edwards，EXCHANGE RATES IN EMERGING ECONOMIES

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发展中经济体汇率制度：我们知道的和需要知道的，EXCHANGE RATES IN EMERGING ECONOMIES:WHAT DO WE KNOW?WHAT DO WE NEED TO KNOW?Sebastian Edwards，Miguel A. Savastano，发表于 National Bureau of Economic Research, in its series NBER Working Papers with number        7228，Jul 1999。

Abstract

Exchange rateshave been at the center of economic debates in emerging economies.Issues related to the feasibility of flexible exchange rates, therelationship between exchange rate volatility and growth, and the roleof exchange rate overvaluation in recent crises, among other, have beenextensively discussed during the last few years. In this paper weaddress some of the most important exchange rate-related issues inemerging economies. In particular, we deal with: (a) the merits ofalternative exchange rate regimes: (b) the extent to which purchasingpower parity holds in the long run in these countries; and (c) modelsto assess real exchange rate overvaluation. We also discuss futureareas for research on exchange rates in the emerging nations.

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关键词：Sebastian Economies exchange economie Emerging Sebastian Edwards

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