Footnote:
In: Central Banking, Monetary Policies, and the Implications for Transition Economies, Mario I. Blejer and Marko Skreb, eds., Kluwer Academic Publishers, 1999
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments 1999 erstellt
Description:
The dramatic events in Asia and Russia, and the contagion they have spread, have generated a torrent of commentary about exchange rates, hot money, and exchange controls. As someone who was deeply involved in Indonesia and who predicted that the ruble would collapse by midyear, I offer my views as to why most of the commentary has been either half-baked or simply wrong. Indeed, in most instances the international chattering classes have misdiagnosed the patient and, in consequence, prescribed the wrong medicine. A correct diagnosis requires an understanding of alternative exchange-rate regimes