| Document Type
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BL
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| Record Number
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890008
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| Main Entry
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Kubo, Kōji
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| Title & Author
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Myanmar's foreign exchange market : : controls, reforms, and informal market /\ Koji Kubo.
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| Publication Statement
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Singapore :: Springer,, 2018.
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| Page. NO
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1 online resource
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| ISBN
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9789811317897
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: 9811317895
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9789811317880
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9811317887
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| Bibliographies/Indexes
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Includes bibliographical references and index.
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| Contents
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Intro; Preface; Contents; About the Author; Abbreviations; List of Figures; List of Tables; 1 Introductory Chapter: Myanmar's Foreign Exchange Market-Controls, Reforms, andInformal Market; 1 Introduction; 2 Bank-Based Forex Market; 2.1 Market Structure; 2.2 Market Evolution; 3 Unofficial Forex Market; 3.1 Causes ofUnofficial Market Formation; 3.2 Market Structure; 3.3 Unofficial Markets intheASEAN-4 Forerunners; 4 Research Question andIts Rationale; 4.1 Research Question; 4.2 Rationale forResearch Question; 5 Outline ofThis Book; 5.1 Overview oftheMyanmar Economy.
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3.2 Resource Boom4 Sources ofReal Exchange Rate Appreciation; 4.1 Linkage betweentheTwo Resource Booms andCurrency Appreciation; 4.2 Other Factors behind Currency Appreciation; 5 Lifting ofExchange Restrictions since2011; 5.1 Import Liberalization andKyat Depreciation; 5.2 Implications oftheAppreciation Episode; 6 Concluding Remarks; References; 5 Foreign Exchange Market Reform since2011: Linkage betweentheOfficial andUnofficial Markets; 1 Introduction; 2 Outline ofReforms since2011; 2.1 Forex Market Reform; 2.2 Reform oftheCentral Bank andtheFinancial Market.
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5.2 Outline ofThis BookReferences; 2 Piecemeal Reforms inthe1990s andForex Market Segmentation betweenState andPrivate Sectors; 1 Introduction; 2 The Myanmar Way toIts Transition toaMarket Economy: Late 1980s andEarly 1990s; 2.1 Before Transition; 2.2 Initial Transition Strategies; 3 Macroeconomic Outcome ofTransition inIts Initial Stage; 4 Foreign Exchange Certificates andAborted Exchange Rate Reform intheMid-1990s; 5 Link betweenState andPrivate Sectors; 5.1 Flows ofForeign Exchange fromthePrivate toState Sector; 5.2 Impact onthePrivate Sector; 6 Concluding Remarks.
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7 Sources ofUnofficial Market Persistence7.1 Informal Currency Deals forOfficial Imports; 7.2 Complementarities betweenInformal Currency Deals andInformal Economic Activities; 8 Concluding Remarks; Appendix: Balance ofPayments, FY 1995-2005 (U.S. Dollar, Million); References; 4 Import Controls, Natural Resource Booms, andExtraordinary Real Exchange Rate Appreciation in2007-2011; 1 Introduction; 2 Trends inExchange Rates andExternal Balance; 2.1 Exchange Rate Trends; 2.2 External Balance andComposition ofExports; 3 Determinants oftheReal Exchange Rate; 3.1 Money Supply.
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| Abstract
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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.
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| Subject
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Foreign exchange-- Burma.
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BUSINESS ECONOMICS-- Finance.
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Development economics emerging economies.
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Distributive industries.
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Economic systems structures.
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| Subject
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Finance.
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| Subject
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Foreign exchange.
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| Subject
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Burma.
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| Dewey Classification
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332.45609591
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| LC Classification
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HG3969.7
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