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The Art of Currency Manipulation : How to Profiteer by Deliberately Distorting Exchange Rates

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dc.contributor.authorBasu, Kaushik
dc.date.accessioned2014-02-03T21:17:09Z
dc.date.available2014-02-03T21:17:09Z
dc.date.issued2013-09
dc.description.abstractA frequent charge in foreign exchange markets in developing countries is that of manipulators being at work. Since to buy is to raise prices and to sell is to lower prices, the question that naturally arises is whether the widespread charge of market manipulation is valid. The paper shows that (whether or not "widespreadness" has any merit) it is possible for a player to manipulate and profiteer. By using some simple principles of game theory, the paper outlines a strategy that a manipulator may use. The aim of this paper is not to provide a manual for the manipulator but to enable the regulator to understand the art and develop policies to curb manipulation.en
dc.identifierhttp://documents.worldbank.org/curated/en/2013/09/18269054/art-currency-manipulation-profiteer-deliberately-distorting-exchange-rates
dc.identifier.doi10.1596/1813-9450-6608
dc.identifier.urihttps://hdl.handle.net/10986/16835
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper;No. 6608
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectAUCTIONS
dc.subjectCENTRAL BANK
dc.subjectCENTRAL BANKS
dc.subjectCLARITY
dc.subjectCOLLATERAL
dc.subjectCOMPETITIVE MARKETS
dc.subjectCONDITIONAL SALE
dc.subjectCONTINUOUS AUCTIONS
dc.subjectCURRENCY
dc.subjectCURRENCY DEPRECIATION
dc.subjectDEMAND FUNCTION
dc.subjectDEPRECIATIONS
dc.subjectDERIVATIVES
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPMENT ECONOMICS
dc.subjectDEVELOPMENT POLICY
dc.subjectDOMESTIC CURRENCY
dc.subjectDOMESTIC MARKET
dc.subjectDUOPOLY
dc.subjectEMERGING ECONOMIES
dc.subjectEMERGING MARKET
dc.subjectEMERGING MARKET ECONOMIES
dc.subjectEQUILIBRIA
dc.subjectEQUILIBRIUM
dc.subjectEQUILIBRIUM BEHAVIOR
dc.subjectEQUILIBRIUM PRICE
dc.subjectEQUILIBRIUM PRICES
dc.subjectEXCHANGE RATE
dc.subjectEXCHANGE RATE FLUCTUATIONS
dc.subjectEXCHANGE RATE MOVEMENTS
dc.subjectEXCHANGE RATES
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL STUDIES
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN EXCHANGE MARKET
dc.subjectFOREIGN EXCHANGE MARKETS
dc.subjectFOREIGN EXCHANGE RESERVES
dc.subjectFOREIGN EXCHANGE RISK
dc.subjectFORWARD MARKETS
dc.subjectFUTURES
dc.subjectFUTURES MARKETS
dc.subjectGAME THEORY
dc.subjectINSIDER TRADING
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL ECONOMICS
dc.subjectMARKET ECONOMIES
dc.subjectMARKET MANIPULATION
dc.subjectMARKET PLAYERS
dc.subjectMARKET POWER
dc.subjectMARKET PRICE
dc.subjectMARKET REGULATORS
dc.subjectMARKET STRUCTURE
dc.subjectMONOPOLY
dc.subjectNASH EQUILIBRIUM
dc.subjectOLIGOPOLY
dc.subjectPRICE CHANGE
dc.subjectPRICE LEVEL
dc.subjectPRICE MOVEMENTS
dc.subjectREGULATOR
dc.subjectREGULATORS
dc.subjectSALE
dc.subjectSTOCK MARKET
dc.subjectSUPPLY FUNCTIONS
dc.subjectTREASURIES
dc.subjectUNCERTAINTY
dc.subjectWEALTH
dc.titleThe Art of Currency Manipulation : How to Profiteer by Deliberately Distorting Exchange Ratesen
dspace.entity.typePublication
okr.crossref.titleThe Art of Currency Manipulation: How to Profiteer by Deliberately Distorting Exchange Rates
okr.date.disclosure2013-09-01
okr.date.doiregistration2025-04-10T11:49:40.782022Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2013/09/18269054/art-currency-manipulation-profiteer-deliberately-distorting-exchange-rates
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeFinance and Markets
okr.globalpracticeFinance and Markets
okr.globalpracticeTrade and Competitiveness
okr.guid590721468181780602
okr.identifier.doi10.1596/1813-9450-6608
okr.identifier.externaldocumentum000158349_20130918094113
okr.identifier.internaldocumentum18269054
okr.identifier.reportWPS6608
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2013/09/18/000158349_20130918094113/Rendered/PDF/WPS6608.pdfen
okr.topicMacroeconomics and Economic Growth::Markets and Market Access
okr.topicFinance and Financial Sector Development::Currencies and Exchange Rates
okr.topicEconomic Theory and Research
okr.topicPrivate Sector Development::Emerging Markets
okr.topicFinance and Financial Sector Development::Debt Markets
okr.unitOffice of the Chief Economist, Development Economics Vice Presidency
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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