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The Papua New Guinea Kina's Fear of Floating

Chakriya Bowman
Australian National University - Crawford School of Economics and Government

June 2005

Abstract:
Calvo and Reinhart (2002) demonstrated that there is a pervasive 'fear of floating' to be found in emerging market currencies, and that officially announced currency regimes may diverge from actual central bank practice. The Papua New Guinea kina is officially a floating currency, but there are a number of reasons why this is unlikely to be the case in practice. This analysis uses the Calvo and Reinhart method to show that, like many other emerging market 'floating' currencies, the kina more closely resembles a managed regime.

Keywords: Foreign exchange, currency behavior

JEL Classifications: F31, G15

Working Paper Series

Date posted: July 26, 2005 ; Last revised: July 26, 2005

Suggested Citation

Bowman, Chakriya, The Papua New Guinea Kina's Fear of Floating (June 2005). Available at SSRN: http://ssrn.com/abstract=759204

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Contact Information

Chakriya Bowman (Contact Author)

Australian National University - Crawford School of Economics and Government ( email )

Coombs Building 9
Canberra ACT 0200 0200
Australia