English, Article edition: UNIFICATION OF CHINA'S FOREIGN EXCHANGE RATES GUOBO HUANG; CLEMENT YUK-PANG WONG

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Physical Description
  • article
Language
  • English

Edition details

Title
  • UNIFICATION OF CHINA'S FOREIGN EXCHANGE RATES
Author
  • GUOBO HUANG
  • CLEMENT YUK-PANG WONG
Physical Description
  • article
Notes
  • This paper studies China's foreign exchange market before and after the 1994 unification of the official and swap exchange rates. Examining segmentation as well as linkages among the foreign exchange adjustment centers (FEACs) reveals that the linkages were not strong enough to eliminate or narrow price differentials among FEACs. Hence, improving the foreign exchange market's efficiency requires a reform to unify the swap rates. This paper discusses the unification's implications for inflation, monetary policy, and current account convertibility. Copyright 1996 Western Economic Association International.
  • RePEc:bla:coecpo:v:14:y:1996:i:4:p:42-57
Language
  • English
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