Bhagwati, Jagdish N creator text United Kingdom National Bureau of Economic Research 1978 monographic 19p. Among the significant economic effects attendant upon the working of exchange control regimes are those that relate to illegal transactions. Since exchange control regimes have been defined comprehensively to include those foreign trade regimes that have a large complement of price instruments as well as quantitative restrictions, there is now need to distinguish between the price and quantitative instruments in discussing the emergence of illegal transactions. Smuggling Faking transactions False billing http://iffoadatabase.trustafrica.org/iff/the_consequences_of_exchange_control_regimes.pdf http://iffoadatabase.trustafrica.org/iff/the_consequences_of_exchange_control_regimes.pdf