Hidden Bibliographic Details
| Other authors / contributors: | Wei, Shang-Jin, author.
International Monetary Fund. European I Department.
International Monetary Fund. Research Department.
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| ISBN: | 1282049712
9781282049710
1462306462
9781462306466
1451992424
9781451992427
9786613798015
6613798010
145190469X
9781451904697
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| ISSN: | 2227-8885
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| Notes: | "September 2003."
Includes bibliographical references (pages 26-28).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2011.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2011 HathiTrust Digital Library committed to preserve
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| Summary: | This paper examines the role of corruption in the design of monetary policies for developing countries in a framework of fiscal and monetary interaction and obtains several interesting results. First, pegged exchange rates, currency boards, or dollarization, while often prescribed as a solution to the problem of a lack of credibility for developing countries, is typically not credible in countries with serious corruption. Second, the optimal degree of conservatism for a Rogoff (1985)-type central banker is an inverse function of the corruption level. Third, either an optimally designed inflation target or an optimal-conservative central banker is preferable to an exchange rate peg, currency board, or dollarization.
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| Other form: | Print version: Huang, Haizhou. Monetary policies for Developing countries. Washington, D.C. : International Monetary Fund, [2003]
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| Standard no.: | 10.5089/9781451904697.001
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