The political economy of BDCs and black market premiums

We seem to fall into a recurring cycle of bad policy with regards to the foreign exchange market. It is possible that policy makers implement bad policy by accident. However it is also possible that policy makers implement bad policy by design. Could bad policy in the foreign exchange market be the result of political calculations? In my article in the guardian today, I hypothesize on this question. Available here and in print.

http://guardian.ng/business-services/the-political-economy-of-bdcs-and-black-market-premiums/

 

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