How do countries choose their exchange rate regime? / prepared by Hélène Poirson. [recurso electrónico]
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Tipo de ítem | Biblioteca actual | Signatura topográfica | Estado | Fecha de vencimiento | Código de barras | |
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Biblioteca Manuel Belgrano | Recurso en línea (Navegar estantería(Abre debajo)) | Disponible |
Bibliografía: p. 31-33.
This paper investigates the determinants of exchange rate regime choice in 93 countries during 1990-98. Cross-country analysis of variations in international reserves and nominal exchange rates shows that (i) truly fixed pegs and independent floats differ significantly from other regimes and (ii) significant discrepancies exist between de jure and de facto flexibility. Regression results highlight the influence of political factors adequacy of reserves, dollarization, exchange rate risk exposure, and some traditional optimal currency area criteria, in particular capital mobility, on exchange rate regime selection.
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