The choice of an exchange rate arrangement affects the volatility of the exchange rate: higher flexibility goes ahead with increasing volatility and vice versa (Flood and Rose 1995, 1999). We investigate the exchange rate volatility of six Central and Eastern European countries (CEEC) between...

Evolution of the exchange regime in the reform era : the transition to an equilibrium exchange rate : developments since mid-2005 -- Policy challenges under the existing currency regime : independence of monetary policy : rebalancing economic growth : potential effects on the banking system :...

"This is the first book to collect academic studies examining issues related to the potential internationalization of the remninbi. It considers polisy implications, documents the rising regional importance of the renminbi and discusses key issues in the increasing use of the renminbi in...