A number of emerging markets have experienced substantial real exchange rate appreciation in recent years, generating concerns about competitiveness and prompti

In the aftermath of the Asian/global financial crises of 1997-98, how should emerging markets now structure their exchange rate systems to prevent new crises fr

With the loss of Soviet control in Central and Eastern Europe, as well as the move toward economic liberalization in many developing countries, a huge increase

We show that the response of firm-level investment to real exchange rate movements varies depending on the production structure of the economy. Firms in advance

Reviews some empirical evidence on the recent performance of alternative exchange rate arrangements in emerging markets. Examines the concrete circumstances und