This paper presents a theoretical framework to analyze the issue of exchange rate reform in the presence of parallel markets. In Ghana, which has carried out one of the most thorough structural adjustment programs in Africa, an increasingly high inflation rate has been attributed to major devaluations of the official exchange rate. The authors dispute this conclusion based on careful testing and simulations using a macroeconomic model estimated with...
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详细
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1990/05/31
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政策研究报告
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WPS427
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1
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1
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2010/07/01
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Exchange reform, parallel markets, and inflation in Africa : the case of Ghana
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inflation