Title of article :
Exchange rate regime durability and performance in developing versus advanced economies$
Author/Authors :
Aasim M. Husain، نويسنده ,
Issue Information :
روزنامه با شماره پیاپی سال 2005
Pages :
30
From page :
35
To page :
64
Abstract :
Drawing on new data and advances in exchange rate regimes’ classification, we find that countries appear to benefit by having increasingly flexible exchange rate systems as they become richer and more financially developed. For developing countries with little exposure to international capital markets, pegs are notable for their durability and relatively low inflation. In contrast, for advanced economies, floats are distinctly more durable and also appear to be associated with higher growth. For emerging markets, our results parallel the Baxter and Stockman classic exchange regime neutrality result, though pegs are the least durable and expose countries to higher risk of crisis. r 2004 Elsevier B.V. All rights reserved.
Keywords :
Durability , Performance , Exchange rate regimes , classification
Journal title :
Journal of Monetary Economics
Serial Year :
2005
Journal title :
Journal of Monetary Economics
Record number :
845853
Link To Document :
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