- International Monetary Fund
- Published Date:
- April 1998
©1998 International Monetary Fund
Cover design and composition:
Massoud Etemadi, Julio Prego, and the IMF Graphics Section
Published April 1998
Reprinted March 2000
To order IMF publications, please contact:
International Monetary Fund, Publication Services
700 19th Street, N.W., Washington, D.C. 20431, U.S.A.
Tel: (202) 623-7430 Telefax: (202) 623-7201
The Economic Issues series aims to make available to a broad readership of nonspecialists some of the economic research produced in the IMF on topical issues. The raw material of the series is mainly IMF Working Papers, technical papers produced by IMF staff members and visiting scholars, as well as policy-related research papers. This material is edited and partly redrafted for a general readership.
The following paper draws on material originally contained in Chapter 4 of the October 1997 World Economic Outlook, “Exchange Rate Arrangements and Economic Performance in Developing Countries,” by Francesco Caramazza and Jahangir Aziz. Neil Wilson prepared the current version. Readers interested in the original material may purchase a copy of the October 1997 World Economic Outlook from IMF Publication Services ($35.00) or view the full text on the IMF’s Internet site at http://www.imf.org.