TY - BOOK ID - 11262971 TI - Efficiency Costs of Myanmar’s Multiple Exchange Rate Regime AU - Hori, Masahiro. AU - Wong, Yu Ching. PY - 2008 VL - WP/08/199 SN - 1462361846 1452735964 9786612841507 1282841505 1451870574 1451915101 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Foreign exchange rates KW - Economic policy KW - Econometric models. KW - Burma KW - Exchange rates KW - Fixed exchange rates KW - Flexible exchange rates KW - Floating exchange rates KW - Fluctuating exchange rates KW - Foreign exchange KW - Rates of exchange KW - Rates KW - Birmanskiĭ Soi︠u︡z KW - Union of Burma KW - Burma (Union) KW - Socialist Republic of the Union of Burma KW - Pyidaungsu Myanmma Naing Ngan-Daw KW - Birmanie KW - Birmânia KW - Myanmar KW - Mien Chin KW - Burmah KW - Pyidaungzu Myanma Naingngandaw KW - Myanma Naingngandaw KW - Pyidaungsu Socialist Thammada Myanma Naingngandaw KW - Mranʻ mā KW - Praññʻ thoṅʻ cu Chuirhayʻlacʻ Sammata Mranʻ mā Nuiṅʻ ṅaṃ toʻ KW - Union of Myanmar KW - Birma KW - Myanma KW - Republic of the Union of Myanmar KW - Pyidaunzu Thanmăda Myăma Nainngandaw KW - Mianmar KW - Unie van Mianmar KW - Unie van Birma KW - Pyi-daung-zu Myan-mar Naing-ngan-daw KW - Myanma Birliyi Respublikası KW - М'янма KW - M'i︠a︡nma KW - Рэспубліка Саюз М'янма KW - Rėspublika Sai︠u︡z M'i︠a︡nma KW - П'ідаўнзу М'янма Найнганда KW - P'idaŭnzu M'i︠a︡nma Naĭnhanda KW - Саюз М'янма KW - Sai︠u︡z M'i︠a︡nma KW - Mijanmar KW - Mijanmarska Unija KW - Мианмар KW - Република Съюз Мианмар KW - Republika Sŭi︠u︡z Mianmar KW - República de la Unió de Myanmar KW - Birmanya KW - Barma KW - Svazová republika Myanmar KW - Undeb Myanmar KW - Myanmar Unionens Republik KW - Pyidaungsu Thamada Myanmar Naing-Ngan-Daw KW - Pye Tawngsu Thammada Myanma Naingngan KW - Republik der Union von Myanmar KW - Myanmari Liidu Vabariik KW - Μιανμάρ KW - ʼΕνωση του Μιανμαρ KW - Enōsē tou Mianmar KW - Βιρμανία KW - Virmania KW - Μπούρμα KW - Bourma KW - Δημοκρατία της ʼΕνωσης της Μιανμάρ KW - Dēmokratia tēs Enōsēs tēs Mianmar KW - Unión de Myanmar KW - República de la Unión de Myanmar KW - Birmo KW - Mjanmao KW - Mjanmaa Unio KW - Myanmarko Batasuna KW - République de l'Union du Myanmar KW - Myanmarin tasavallan unioni KW - Puruma KW - Maenmar KW - Unión de Birmania KW - Mjanmar KW - Mjanma KW - Unija Mjanmar KW - Mianmari Államszövetség Köztársasága KW - ミャンマー KW - 미얀마 KW - Miyanma KW - 버마 KW - Bŏma KW - 缅甸 KW - Miandian KW - Praññʻ thoṅʻ cu Sammata Mranʻ mā Nuiṅʻ ṅaṃ toʻ KW - Mranʻ mā Nuiṅʻ ṅaṃ toʻ KW - Pyidaungzu Thammada Myanma Naingngandaw KW - National Unity Government of Myanmar KW - National Unity Government of the Republic of the Union of Myanmar KW - Exports and Imports KW - Foreign Exchange KW - Macroeconomics KW - Public Enterprises KW - Public-Private Enterprises KW - Trade: General KW - Currency KW - Civil service & public sector KW - International economics KW - Public sector KW - Exports KW - Market exchange rates KW - Exchange rate arrangements KW - Finance, Public UR - https://www.unicat.be/uniCat?func=search&query=sysid:11262971 AB - Myanmar's multiple exchange rate system creates various economic distortions. This paper describes the exchange rate practices in Myanmar, develops a model of foreign exchange markets, and presents the efficiency costs imposed by quasi-fiscal operation under the current exchange rate regime. The results of our model-based analyses indicate that the equilibrium exchange rate under the unified market could be at around K 400-500 per U.S. dollar, and using the equilibrium exchange rate (instead of the official exchange rate) as the accounting rate increases trade openness to more than 20 percent from less than 1 percent measured by official statistics. The total efficiency loss caused by the current multiple exchange rate regime is estimated at about 14-17 percent of GDP in 2006/07. ER -