Parallel exchange-rate markets have often been dismissed by authorities as a nuisance or as the domain of a small group of economic saboteurs. Using Tanzania as a case study, the authors argue instead that these markets played a central macroeconomic role in the 1970s and 1980s. They provide a rigorous macroeconomic analysis of the parallel foreign-exchange market and its fiscal implications. First, they investigate the evolution of that market in...
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INFORMATION
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1999/02/28
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Document de travail de recherche sur les politiques
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WPS2060
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1
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1
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2010/07/01
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The macroeconomics of delayed exchange-rate unification : theory and evidence from Tanzania
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foreign exchange
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