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Gelişmekte Olan Ülkelerde Döviz Kuru Rejimi Tercihi: Yerel Sorunlara Global Çözümler

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  • Rüstem YANAR

Abstract

This paper argues “bipolar hypothesis” from the emerging markets perspective. According to this hypothesis, with high capital mobility the only viable exchange rate regime choice is between “hard pegs” and “free floating”. Indeed today the advanced countries are either float or part of Monetary Union. But in Emerging Markets are different from Advanced. This paper investigates choice of exchange rate regime in 25 emerging countries after 1973. In these countries, intermediate regimes exist as implicit or explicit because of economic and financial characteristics, “original sin” and “fear of floating”.

Suggested Citation

  • Rüstem YANAR, 2008. "Gelişmekte Olan Ülkelerde Döviz Kuru Rejimi Tercihi: Yerel Sorunlara Global Çözümler," Sosyoekonomi Journal, Sosyoekonomi Society, issue 2008-2.
  • Handle: RePEc:sos:sosjrn:080209
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    Keywords

    Exchange Rate Regime; Bipolarity Hypothesis; Emerging Market Countries.;
    All these keywords.

    JEL classification:

    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
    • F59 - International Economics - - International Relations, National Security, and International Political Economy - - - Other

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