Changes In Exchange Rate Regime In Emerging Economies And Policy Options

Based on the existing theory of exchange rate and exchange rate regime, especially on Exchange Rate Regime Reform Theory of Emerging Economies, this paper does some in-depth study in the characteristics and impact of exchange rate regime reform in emerging economies, including "Asian Tigers" and the "BRIC" countries. Then, the article does a thorough analysis of Path Selection of the Exchange Rate Regime Reform, separately from the point of view in the economic scale, industrial structure, economic opening, macro-economic regulation, financial system, economic crisis and the price system. Finally, a number of specific policies recommendations on supporting reforms of exchangge rate system of our country are made.By analyzing, we draw the following conclusions:First, the exchange rate regime reform is a systematic project which needs continuous improvement in various supporting systems; Second, the exchange rate regime reform is a gradual process that requires the appropriate conditions gradually improved; Again, the exchange rate regime reform is an orderly process, every project needs to be reformed according to the impact of real economy; Finally, the exchange rate regime reform is a process of optimal allocation of resources, which is the necessary condition of improving efficiency of resources use and the transformation of economic growth.