Australia’s transition from crawling peg to floating exchange rate

Authors

  • M. POLASEK
  • M.K. LEWIS

DOI:

https://doi.org/10.13133/2037-3643/11081

Keywords:

Australia, foreign exchange market, floating exchange rates, crawling peg

Abstract

The Australian government began to deregulate its foreign exchange market and move to floating exchange rates in late 1983. Prior to that date there had been a wide range of controls over the foreign exchange market, which became increasingly difficult to sustain in the light of domestic and international developments. After an analysis of the previous form of 'crawling peg' control, a review is made of the financial innovations and changes in the economic environment which forced a move to floating rates. Finally, the experience of floating rates since 1983 is examined.


JEL: F31

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Published

2013-11-21

How to Cite

POLASEK, M., & LEWIS, M. (2013). Australia’s transition from crawling peg to floating exchange rate. PSL Quarterly Review, 38(153). https://doi.org/10.13133/2037-3643/11081

Issue

Vol. 38 No. 153 (1985)

Section

Editorial

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