English, Article edition: Welfare Effects of Uzbekistanís Foreign Exchange Regime By Christoph B. Rosenberg; Maarten de Zeeuw

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  • article
Language
  • English

Edition details

Title
  • Welfare Effects of Uzbekistanís Foreign Exchange Regime
Author
  • By Christoph B. Rosenberg
  • Maarten de Zeeuw
Physical Description
  • article
Notes
  • In addition to transferring about 16 percent of GDP from exporters to importers, Uzbekistanís quasi-fiscal multiple exchange rate regime generates identifiable welfare losses of 2ñ8 percent of GDP on import markets and up to 15 percent on export markets. These excess burdens have increased substantially with the growing difference among exchange rates. The welfare analysis allows some conclusions regarding the optimal reform strategy: (i) welfare losses will decline overproportionally as exchange rates unify, (ii) exchange rate unification should be supplemented by changing the explicit fiscal system; (iii) at a minimum, Uzbekistan would benefit from moving to an explicit fiscal regime. Copyright 2001, International Monetary Fund
  • RePEc:imf:imfstp:v:48:y:2001:i:1:p:6
  • In addition to transferring about 16 percent of GDP from exporters to importers, Uzbekistanís quasi-fiscal multiple exchange rate regime generates identifiable welfare losses of 2-8 percent of GDP on import markets and up to 15 percent on export markets. These excess burdens have increased substantially with the growing difference among exchange rates. The welfare analysis allows some conclusions regarding the optimal reform strategy: (i) welfare losses will decline overproportionally as exchange rates unify, (ii) exchange rate unification should be supplemented by changing the explicit fiscal system; (iii) at a minimum, Uzbekistan would benefit from moving to an explicit fiscal regime. Copyright 2001, International Monetary Fund
  • RePEc:pal:imfstp:v:48:y:2001:i:1:p:6
Language
  • English
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