01608cas a2200241 a 4500 AALejournalIMF010040 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451960587 1018-5941 BD-DhAAL BD-DhAAL International Monetary Fund. Trade Reform Under Partial Currency Convertibility : Some Suggestive Results. Washington, D.C. : International Monetary Fund, 1988. 1 online resource (28 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper discusses the macroeconomic implications of trade reform in the presence of capital account restrictions. The latter is modelled by recognizing prior constraints on free currency convertibility that are imposed via the use of a multiple exchange rate system. The results of the analysis indicate that the preferred sequence of liberalization need not be of the commonly advocated 'current account first' variety, and that real depreciation rather than real appreciation is in fact a more probable outcome following domestic tariff liberalization. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1988/069 Full text available on IMF http://elibrary.imf.org/view/journals/001/1988/069/001.1988.issue-069-en.xml IMF e-Library