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The Choice of Exchange Rate Regimes in the MENA Countries: a Probit Analysis

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  • Sfia Daly

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    Abstract

    This paper analysis the choice of exchange regimes of 17 economies in the MENA region for the period 1990-2000. For this purpose we use both de jure and de facto regime classifications and estimate a series of binomial and multinomial probit models. Regressions results highlight the important influence of economic development and international reserve levels on exchange regime selection.

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    File URL: http://www.wdi.umich.edu/files/Publications/WorkingPapers/wp899.pdf
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    Bibliographic Info

    Paper provided by William Davidson Institute at the University of Michigan in its series William Davidson Institute Working Papers Series with number wp899.

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    Length: pages
    Date of creation: 01 Nov 2007
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    Handle: RePEc:wdi:papers:2007-899

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    Keywords: Exchange regime choice; MENA countries; probit model;

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    4. Stanley Fischer, 2001. "Exchange Rate Regimes: Is the Bipolar View Correct?," Journal of Economic Perspectives, American Economic Association, American Economic Association, vol. 15(2), pages 3-24, Spring.
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    19. George Tavlas, 1994. "The theory of monetary integration," Open Economies Review, Springer, Springer, vol. 5(2), pages 211-230, March.
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    Cited by:
    1. Omar Bakkou, 2014. "The Suitable Exchange Rate Regime for the Moroccan Economy," International Journal of Economics and Financial Issues, Econjournals, vol. 4(3), pages 612-621.

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