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Exchange Rate Regime Choice in Historical Perspective

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  • Michael D. Bordo

Abstract

In this paper, I survey the issue of exchange rate regime choice from the perspective of both the industrial and emerging economies taking an historical perspective. I first survey the theoretical issues beginning with a taxonomy of regimes. I then examine the empirical evidence on the delineation of regimes and their macroeconomic performance. The penultimate section provides a brief history of monetary regimes in industrial and emerging economies. The conclusion considers the case for a managed float regime for today's emerging economies.

Suggested Citation

  • Michael D. Bordo, 2003. "Exchange Rate Regime Choice in Historical Perspective," IMF Working Papers 2003/160, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2003/160
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    References listed on IDEAS

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