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Choice and Performance of Exchange Rate Regimes in Developing Countries: The Case of Chile

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Author Info

  • Miguel Gouvêa

    (University of Coimbra, Faculty of Economics)

  • António Portugal Duarte

    (University of Coimbra, Faculty of Economics)

Abstract

Although 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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Bibliographic Info

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This chapter was published in:

  • Stefan Bogdan Salej & Dejan Eric & Srdjan Redzepagic & Ivan Stosic (ed.), 2011. "Contemporary Issues in the Integration Processes of Western Balkan Countries in the European Union," Books, Institute of Economic Sciences, Institute of Economic Sciences, number conissue, December.
    This item is provided by Institute of Economic Sciences in its series Book Chapters with number conissue-19.

    Handle: RePEc:ibg:chaptr:conissue-19

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    Related research

    Keywords: BBC; Chile; macroeconomic performance; MFP; exchange rate regime;

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    1. 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.
    2. Atish R. Ghosh & Anne-Marie Gulde & Holger C. Wolf, 2003. "Exchange Rate Regimes: Choices and Consequences," MIT Press Books, The MIT Press, The MIT Press, edition 1, volume 1, number 0262072408, December.
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