TY - BOOK ID - 84541941 TI - Welfare Effects of Uzbekistan's Foreign Exchange Regime. AU - International Monetary Fund. AU - International Monetary Fund PY - 2000 SN - 146230057X 1452797692 1281602086 1451894937 9786613782779 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Banks and Banking KW - Exports and Imports KW - Foreign Exchange KW - Taxation and Subsidies: Other KW - Trade: General KW - Central Banks and Their Policies KW - Currency KW - Foreign exchange KW - International economics KW - Banking KW - Exchange rates KW - Exports KW - Market exchange rates KW - Quasi-fiscal operations KW - International trade KW - Central banks KW - Banks and banking, Central KW - Uzbekistan, Republic of UR - https://www.unicat.be/uniCat?func=search&query=sysid:84541941 AB - In addition to transferring about 16 percent of GDP from exporters to importers, Uzbekistan’s quasi-fiscal multiple exchange rate regime generates identifiable welfare losses of 2-8 percent of GDP on import markets and up to 15 percent on export markets. These excess burdens have increased substantially with the growing difference of exchange rates. The welfare analysis allows some conclusions regarding the optimal reform strategy: (i) welfare losses will decline overproportionally as exchange rates unify; (ii) exchange rate unification should be supplemented by changing the explicit fiscal system; (iii) at a minimum, Uzbekistan would benefit from moving to an explicit fiscal regime. ER -