#  Exchange Rate Policies for Emerging Markets 

 



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"[Systematic Managed Floating](/file_url/682)," 2019, [*Open Economies Review*](https://link.springer.com/article/10.1007/s11079-019-09528-8)*,* [April, vol 30, no.2](https://link.springer.com/journal/11079/30/2) pp.255-295. [Reprinted, 2021,](/publications/systematic-managed-floating-0) in *The Asian Monetary Policy Forum -- Insights for Central Banking* (Singapore: World Scientific Publ. Co. Pte. Ltd,), edited by S,Davis. E.Robinson, & B.Yeung, Davis, pp. 160-223.

["Choosing an Exchange Rate Regime](/file_url/1131),” 2011, [*The Handbook of Exchange Rates*](https://onlinelibrary.wiley.com/doi/book/10.1002/9781118445785)*,* edited by Jessica James, Ian W. Marsh & Lucio Sarno (John Wiley).[ M-RCBG WP 16-2011](https://www.hks.harvard.edu/sites/default/files/centers/mrcbg/files/MRCBG_FWP_2011_16-2011_Frankel_Exchange_Rate.pdf).

“[Estimation of De Facto Flexibility Parameter and Basket Weights](/file_url/1178) [in Evolving Exchange Rate Regimes](/file_url/1183),” with [Daniel Xie](https://www.tsinghua.edu.cn/iesen/info/1021/1150.htm); [proofs](/file_url/1181), [*American Economic Review Papers & Proceedings*, 100, no.2, May 2010, pp.568-72](https://www.aeaweb.org/articles?id=10.1257/aer.100.2.568). ​​​[Presented](/file_url/1180) at De Nederlandsche Bank, Amsterdam, June 2010; [presented](/file_url/1179) at [Atlanta](/file_url/1179) AEA meetings, Jan. 2010. HKS RWP 10-005; NBER [WP No. 15620](http://www.nber.org/papers/w15620); Peterson Institute for International Economics [WP 10-1](http://www.iie.com/publications/interstitial.cfm?ResearchID=1465), 2010. [Replication files](/file_url/1182).

“[New Estimation of China’s Exchange Rate Regime](/file_url/1192),” 2009, in [Pacific Economic Review vol.14, no.3, pp.346-360](https://onlinelibrary.wiley.com/doi/full/10.1111/j.1468-0106.2009.00454.x) (Wiley InterScience, [Blackwell](http://www.blackwellpublishing.com/journal.asp?ref=1361-374X) Publ.). "[New Estimation of the RMB Regime](https://www.researchgate.net/profile/Jeffrey-Frankel-2/publication/226962118_New_Estimation_of_the_Renminbi_Regime/links/602350354585158939931cb8/New-Estimation-of-the-Renminbi-Regime.pdf)" (incl. appendix tables, in *China’s Emerging Financial Markets: Challenges and Opportunities*, J.Tatom, G.Yago, and J. Barth, eds. (Springer). RWP08-077, Harvard University; NBER [WP no. 14700](http://www.nber.org/papers/w14700).  
  
"[Estimation of De Facto Exchange Rate Regimes](/file_url/1193): [Synthesis of The Techniques for Inferring Flexibility and Basket Weights](/file_url/1194)," with Shang-Jin Wei, 2008, [*IMF Staff Papers*, 55, pp.384-416](https://link.springer.com/article/10.1057/imfsp.2008.18) [Full version](/file_url/1195), with all the tables, [Annual Research Conference](http://www.imf.org/external/np/res/seminars/2007/arc/index.htm), [IMF, Washington DC, Nov. 16, 2007](http://www.imf.org/external/pubs/ft/survey/so/2007/RES1121A.htm); [Slides](/file_url/1196); [replication files](/file_url/1198). HKS RWP-026, May 2008, with half the tables; r[eplication files](/file_url/1197). Complete version, with all tables, [HKS CID WP 157, March 2008](https://www.hks.harvard.edu/centers/cid/publications/faculty-working-papers/cid-working-paper-no.-157).

"[On the Rand: Determinants of the South African Exchange Rate](https://onlinelibrary.wiley.com/doi/full/10.1111/j.1813-6982.2007.00130.x?casa_token=H4lDVgp18_kAAAAA:i1uicZrYrz-3KxZE3IawzW2W8o4__556K6WRtSv7_ngbhG2dtesDTMeYA4frTvcSyghrUdcLAuBPTMHz)," [*South African Journal of Economics*](http://www.blackwellpublishing.com/journal.asp?ref=0038-2280&site=1), 75, no.3, September 2007. U.Stellenbosch, [Slides](/file_url/1200); Harvard, [Slides](/file_url/1199), April 2006. Harvard [CID WP139](https://www.hks.harvard.edu/centers/cid/publications/faculty-working-papers/cid-working-paper-no.-139) *&* KSG RWP07-015; [NBER WP 13050](http://papers.nber.org/papers/w13050), [April 2007](http://www.nber.org/papers/w13050). [*"*](http://hks.harvard.edu/fs/jfrankel/OnTheRandUpdateAug07.doc)[On the Rand: Update Note](/file_url/1201)," July 2007*,* South Africa.  
  
“The Balassa-Samuelson Relationship and the Renminbi," KSG, Dec. 2006. \[Cited in "[Push to tap into EM currency returns](http://www.ft.com/cms/s/0/1170ed2e-4112-11e0-bf62-00144feabdc0.html#axzz1FTc0a0Nd)," *Financial Times*, Feb. 27, 2011.\]

["Contractionary Currency Crashes ](/file_url/1202) [in Developing Countries](/file_url/1203)," [*IMF Staff Papers* 52, no.2, pp 149-192](https://link-springer-com.ezp-prod1.hul.harvard.edu/content/pdf/10.2307/30035893.pdf), 2005. [*The Mundell Fleming Lecture*](https://www.imf.org/en/News/Articles/2015/09/28/04/54/tr041105)*,* IMF 5th Annual Research Conference, Nov. 5, 2004. [CID WP 117](https://www.hks.harvard.edu/sites/default/files/centers/cid/files/publications/faculty-working-papers/117.pdf); RWP04-037, Harvard University. [NBER WP No. 11508](http://www.nber.org/papers/w11508).

 "[On the Tenge: Monetary and Exchange Rate Policy for Kazakhstan](/file_url/1204)," *Consultancy for government of Kazakhstan*, [CID,](http://www.cid.harvard.edu/) Apr. 2005. Russian translation, ADB, 2009.

["](http://hks.harvard.edu/fs/jfrankel/ADBpaperOnExRateRegimes.pdf)[Experience of and Lessons from Exchange Rate Regimes in Emerging Economie](/file_url/1001)s[," ](http://hks.harvard.edu/fs/jfrankel/ADBpaperOnExRateRegimes.pdf), In *Monetary and Financial Cooperation in East Asia*, Asian Development Bank (Macmillan Press), 2003. Written for a study coordinated by Takatoshi Ito and Yung Chul Park. [HKS](/file_url/1205) [RWP03-011](/file_url/1002); [NBER WP](http://www.nber.org/papers/w10032)10032.

["](https://ideas.repec.org/p/ecl/harjfk/rwp03-003.html)[A Proposed Monetary Regime for Small Commodity-Exporters: Peg the Export Price (‘PEP’)](/file_url/1206), (['PEP'](/file_url/1207))," *International Finance*, [vol. 6, no. 1, Spring 2003, 61-88](https://onlinelibrary.wiley.com/doi/abs/10.1111/1468-2362.00106?casa_token=xXN7BxNPSToAAAAA:JUs0HDvYBku3PRex0rfV01lIAuk7KYZOJM-qYdLtfgiml9p0nntajekRmoJzU1TL8wvyufe5jzY-dimw). [HKS RWP03-003](https://ideas.repec.org/p/ecl/harjfk/rwp03-003.html), Harvard University. CLICK HERE FOR MORE ON: Peg the Export Price (PEP).

"[A Proposal to Anchor Monetary Policy by the Price of the Export Commodity](/file_url/1407)" with Ayako Saiki, [Journal of Economic Integration, Sept. 2002, 17, no. 3, 417-448.](https://www.jstor.org/stable/23000852)

Sort   ![goldpeg WGC.jpg](/sites/g/files/omnuum8121/files/styles/hwp_1_1__100x100_scale/public/frankel/files/goldpegsmall_01.jpg?itok=LCfVJVZi) 

 



"[Should Gold-Exporters Peg Their Currencies to Gold?](/file_url/1124)"  
[Research Study No. 29](/file_url/1124) for the [World Gold Council](http://www.gold.org/value/official/puiblications/), London, 2002.   






"[Verifiability](https://web.archive.org/web/20170810000735id_/https://sites.hks.harvard.edu/fs/jfrankel/vervan.pdf) and the [Vanishing Intermediate](/file_url/1408) [Exchange Rate Regime](/file_url/1409)," with Sergio Schmukler and Luis Servén; in *Brookings Trade Forum 2000,* edited by Susan Collins and Dani Rodrik (Brookings Institution, Washington DC)*.* [NBER WP 7901.](https://www.nber.org/papers/w7901)

"[Verifying Exchange Rate Regimes](/file_url/1410)," with Eduardo Fajnzylber, Sergio Schmukler, and Luis Serven, 2001, [*Journal of Development Economics*, 66, no. 809, Oct.: 351-386](https://www.sciencedirect.com/science/article/pii/S0304387801001675). [HKS, April 2002](https://papers.ssrn.com/sol3/papers.cfm?abstract_id=296961). "Verifiability: A Rationale for the Failure of Intermediate Exchange Rate Regimes," InterAmerican Seminar in Economics, Buenos Aires, Dec. 1999, organized by Sebastian Edwards and Edgardo Zablotsky. Revised as [World Bank Policy Research WP No. 2397](https://elibrary.worldbank.org/doi/abs/10.1596/1813-9450-2397).

“[Seven points on Exchange Rate Systems for Emerging Markets: One Size Assuredly Does Not Fit All](/file_url/1411),” 1999 Annual Meetings of The World Bank Group and the IMF, Sept. 25, 1999.

"The New Financial Architecture: Exchange Rate Regimes and Financial Integration," Policy Brief no. 51, The Brookings Institution, Washington, DC, June 1999.

"Dollarization in Latin America: Solution or Straitjacket?" remarks at the CFR, Washington DC, April 6, 1999, and IMF, June 24, 1999.

"No Single Currency Regime is Right for All Countries," testimony, House Committee on Banking & Fin. Services, May 21, 1999.

"[Monetary Regime Choices for a Semi-Open Country](/file_url/1412)," in *Capital Controls, Exchange Rates and Monetary Policy in the World Economy*, S. Edwards, ed., (Cambridge U. Press, 1995): 35-69. [UCB CIDER wp 1994](https://ageconsearch.umn.edu/record/233378/?v=pdf). Written for conference organized by Yung Chul Park, Seoul, Nov. 6-7, 1992.  
  
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 See also:- [ Exchange Rate Policies for Emerging Markets ](/emerging-markets-terms/exchange-rate-policies-emerging-markets)