How Central and Eastern European Countries Choose Exchange Rate Regimes
AbstractIn this study, we identify the main determinants of the exchange rate regime choices in Central and Eastern European countries (CEECs). For this purpose, we use an ordered logit model for the offi cial (de jure) and the actual (de facto) exchange rate classifi cations. We fi nd that trade openness and concentration, infl ation differentials, international reserves stocks and fi nancial conditions are the main determinants of the selection of exchange rate regimes in the CEECs.
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Bibliographic InfoArticle provided by Oesterreichische Nationalbank (Austrian Central Bank) in its journal Focus on European Economic Integration.
Volume (Year): (2006)
Issue (Month): 2 ()
Pages: 69 - 84
Postal: Oesterreichische Nationalbank, Documentation Management and Communications Services, Otto-Wagner Platz 3, A-1090 Vienna, Austria
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