Choice and Performance of Exchange Rate Regimes in Developing Countries: The Case of Chile
AbstractAlthough an optimal exchange rate regime is dependent on country’s characteristics, intermediate regimes, especially the Managed Floating Plus (MFP) regime and Basket, Band and Crawling Peg (BBC) regime, seem to be viable options for developing countries. This work aims to analyze the issue of exchange rate regime choice and macroeconomic performance in developing countries, particularly in Chile. The analysis of exchange rate volatility, foreign exchange reserves volatility, inflation rate variation and export growth rate seems to prove that the adoption of the crawling band regime was an effective option as a successful transition to a more flexible exchange rate regime.
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BBC; Chile; macroeconomic performance; MFP; exchange rate regime;
Find related papers by JEL classification:
- E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
- F31 - International Economics - - International Finance - - - Foreign Exchange
- F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General
- O24 - Economic Development, Technological Change, and Growth - - Development Planning and Policy - - - Trade Policy; Factor Movement; Foreign Exchange Policy
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- Reinhart, Carmen & Rogoff, Kenneth, 2004.
"The modern history of exchange rate arrangements: A reinterpretation,"
14070, University Library of Munich, Germany.
- Carmen M. Reinhart & Kenneth S. Rogoff, 2004. "The Modern History of Exchange Rate Arrangements: A Reinterpretation," The Quarterly Journal of Economics, MIT Press, vol. 119(1), pages 1-48, February.
- Carmen M. Reinhart & Kenneth S. Rogoff, 2002. "The Modern History of Exchange Rate Arrangements: A Reinterpretation," NBER Working Papers 8963, National Bureau of Economic Research, Inc.
- Atish R. Ghosh & Anne-Marie Gulde & Holger C. Wolf, 2003. "Exchange Rate Regimes: Choices and Consequences," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262072408.
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