The choice of exchange rate regimes in developing countries: A mulitnominal panal analysis
AbstractThis paper analyses the choices of exchange rate regimes in developing countries since 1980. Static and dynamic random-effects multinominal panel models are estimated using simulation-based techniques. Explanatory variables include OCA fundamentals, stabilization considerations, currency crises factors, and political and institutional features. The results reveal strong state dependence in regime choices. --
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Bibliographic InfoPaper provided by ZEI - Center for European Integration Studies, University of Bonn in its series ZEI Working Papers with number B 32-2004.
Date of creation: 2004
Date of revision:
exchange rate regimes; developing country; multinomial logit model; static and dynamic panel; simulation;
Find related papers by JEL classification:
- F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
- C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions
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