Dual exchange rates : theory, insulation properties and the South African experience

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dc.contributor.advisorKahn, Brianen_ZA
dc.contributor.authorGalloway, D Wen_ZA
dc.date.accessioned2016-02-26T07:17:32Z
dc.date.available2016-02-26T07:17:32Z
dc.date.issued1990en_ZA
dc.descriptionIncludes bibliographies.en_ZA
dc.description.abstractDual exchange rate regimes are not a phenomenon peculiar only to South Africa. In the past they have been implemented by the BLEU, France, Italy and the Netherlands in one form or another. More recently, multiple exchange regimes have been adopted by other developing countries such as Mexico, Brazil, Venezuela and Argentina. The rationale for imposing a two- or multi-tier exchange regime is to protect the balance of payments from volatile short-term capital flows due to political and economic uncertainty inherent in developing economies. The focus of this paper is on the insulation properties of dual market systems against foreign shocks. These shocks may take the form of foreign interest rate increases or increases in foreign perceptions of risk. An implication of these insulation properties is that the monetary authorities are able to pursue a monetary policy independent of external constraints.en_ZA
dc.identifier.apacitationGalloway, D. W. (1990). <i>Dual exchange rates : theory, insulation properties and the South African experience</i>. (Thesis). University of Cape Town ,Faculty of Commerce ,School of Economics. Retrieved from http://hdl.handle.net/11427/17271en_ZA
dc.identifier.chicagocitationGalloway, D W. <i>"Dual exchange rates : theory, insulation properties and the South African experience."</i> Thesis., University of Cape Town ,Faculty of Commerce ,School of Economics, 1990. http://hdl.handle.net/11427/17271en_ZA
dc.identifier.citationGalloway, D. 1990. Dual exchange rates : theory, insulation properties and the South African experience. University of Cape Town.en_ZA
dc.identifier.ris TY - Thesis / Dissertation AU - Galloway, D W AB - Dual exchange rate regimes are not a phenomenon peculiar only to South Africa. In the past they have been implemented by the BLEU, France, Italy and the Netherlands in one form or another. More recently, multiple exchange regimes have been adopted by other developing countries such as Mexico, Brazil, Venezuela and Argentina. The rationale for imposing a two- or multi-tier exchange regime is to protect the balance of payments from volatile short-term capital flows due to political and economic uncertainty inherent in developing economies. The focus of this paper is on the insulation properties of dual market systems against foreign shocks. These shocks may take the form of foreign interest rate increases or increases in foreign perceptions of risk. An implication of these insulation properties is that the monetary authorities are able to pursue a monetary policy independent of external constraints. DA - 1990 DB - OpenUCT DP - University of Cape Town LK - https://open.uct.ac.za PB - University of Cape Town PY - 1990 T1 - Dual exchange rates : theory, insulation properties and the South African experience TI - Dual exchange rates : theory, insulation properties and the South African experience UR - http://hdl.handle.net/11427/17271 ER - en_ZA
dc.identifier.urihttp://hdl.handle.net/11427/17271
dc.identifier.vancouvercitationGalloway DW. Dual exchange rates : theory, insulation properties and the South African experience. [Thesis]. University of Cape Town ,Faculty of Commerce ,School of Economics, 1990 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/17271en_ZA
dc.language.isoengen_ZA
dc.publisher.departmentSchool of Economicsen_ZA
dc.publisher.facultyFaculty of Commerceen_ZA
dc.publisher.institutionUniversity of Cape Town
dc.subject.otherForeign Exchangeen_ZA
dc.titleDual exchange rates : theory, insulation properties and the South African experienceen_ZA
dc.typeMaster Thesis
dc.type.qualificationlevelMasters
dc.type.qualificationnameMComen_ZA
uct.type.filetypeText
uct.type.filetypeImage
uct.type.publicationResearchen_ZA
uct.type.resourceThesisen_ZA
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