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Title:The case for an intermediate exchange rate regime with endogenizing market structures and capital mobility: The empirical study of Brazil PDF Logo
Authors:Kaltenbrunner, Annina
Nissanke, Machiko
Issue Date:2009
Series/Report no.:Research paper / UNU-WIDER 2009.29
Abstract:Set in the context of the recent theoretical and policy debates on appropriate exchange rate regimes for emerging market economies in a world of free capital mobility, the paper attempts to present the case for an intermediate exchange rate regime, drawing on recent theoretical and empirical literatures on behavioural finance and currency market structures; and to examine empirically the experiences and evolution of Brazil's foreign exchange market under different exchange rate regimes.
Subjects:exchange rate management
emerging markets
Document Type:Working Paper
Appears in Collections:WIDER Research Papers, United Nations University (UNU)

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