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The choice of exchange regimes by transition countries

  • Roxana NANU
  • Radu BUZIERNESCU

    (University of Craiova)

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    Within the assurance process of accession to the EU of the transition countries, the option for choosing the type of monetary and exchange policy regime had also a fundamental role, respectively in choosing an optimal combination between the two types of policies. This choice has been made, mainly, depending on the specific of the transition economies, so that to be chosen those monetary policy regimes, respectively the exchange rate regimes (exchange policy), adequate to the economy situation of each country, but there also have been taken into account other variables with direct implications upon the choosing option of the exchange rate regime, and, implicitly, to the monetary policy in order to control the internal prices and the exchange rate. After the comparative analysis made upon the countries which accessed to the EU in 2004 and taking into account the ideas from the specialty literature, we distinguished three groups of factors which affect the choice of the exchange rate regime of a country: economic base, variable referring to the macroeconomic control and variables referring to the risk of monetary crises.

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    Article provided by University of Craiova, Faculty of Economics and Business Administration in its journal Finance - Challenges of the Future.

    Volume (Year): 1 (2008)
    Issue (Month): 7 (May)
    Pages: 139-145

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    Handle: RePEc:aio:fpvfcf:v:1:y:2008:i:7:p:139-145
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