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This is the first book dedicated to the scrutinization of Myanmar's
unofficial foreign exchange market, its roots in restrictive
administrative controls on foreign exchange and international
trade, and its effects on the country's economic performance. This
book integrates vast pieces of records and data with first-hand
information from extensive fieldwork to create an overall picture
of the chaotic but seemingly efficient foreign exchange market in
Myanmar, a transitional economy in Southeast Asia whose economic
systems had been less known due to its isolation until recently.
This book illustrates how the unofficial foreign exchange market
emerged during the country's transition to a market-based economy,
how informal currency deals proliferated under restrictive
controls, and why they persist despite the significant economic
reforms since 2011. Refuting the conventional wisdom of foreign
exchange policy reforms, this research clarifies path-dependent
features of foreign exchange market systems, and it discusses
possible solutions for modernizing economic systems. This book is
highly recommended to readers who seek an in-depth analytical
narrative about informal economic activities and foreign exchange
policy reforms in a fragile state.
This book sheds light on the dollarization trends of four
transitional economies in Southeast Asia: Cambodia, Lao PDR,
Myanmar, and Vietnam. Moving beyond the tendency to focus on the
Latin American experience of dollarization and prolonged high
inflation, the chapters in this book compare how payment
dollarization has been more persistent than other types of
dollarization in this region due to network externalities. The book
illustrates that dollarization started in the underdeveloped
financial system in these countries and that dollarization
interacted with financial development, which is in contrast to
dollarization in Latin America. This project extends the frontiers
of empirical studies on dollarization. It will be of interest to
students, researchers and policy makers concerned with
dollarization and economics in Southeast Asia.
This is the first book dedicated to the scrutinization of Myanmar's
unofficial foreign exchange market, its roots in restrictive
administrative controls on foreign exchange and international
trade, and its effects on the country's economic performance. This
book integrates vast pieces of records and data with first-hand
information from extensive fieldwork to create an overall picture
of the chaotic but seemingly efficient foreign exchange market in
Myanmar, a transitional economy in Southeast Asia whose economic
systems had been less known due to its isolation until recently.
This book illustrates how the unofficial foreign exchange market
emerged during the country's transition to a market-based economy,
how informal currency deals proliferated under restrictive
controls, and why they persist despite the significant economic
reforms since 2011. Refuting the conventional wisdom of foreign
exchange policy reforms, this research clarifies path-dependent
features of foreign exchange market systems, and it discusses
possible solutions for modernizing economic systems. This book is
highly recommended to readers who seek an in-depth analytical
narrative about informal economic activities and foreign exchange
policy reforms in a fragile state.
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Donker Web
Fanie Viljoen
Paperback
(2)
R270
R200
Discovery Miles 2 000
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