Exchange rate regime durability and performance in developing countries versus advanced economies
By: Aasim M. Husain, Ashoka Mody, Kenneth S. Rogoff.
Contributors: Mody, Ashoka.; Rogoff, Kenneth S.; National Bureau of Economic Research.
Series: NBER working paper series ;; working paper 10673; Working paper series (National Bureau of Economic Research : Online) ;; working paper no. 10673.
Publisher: National Bureau of Economic Research
Published: 2004
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Description: "Drawing on new data and advances in exchange rate regimes' classification, we find that countries appear to benefit by having increasingly flexible exchange rate systems as they become richer and more financially developed.  For developing countries with little exposure to international capital markets, pegs are notable for their durability and relatively low inflation.  In contrast, for advanced economies, floats are distinctly more durable and also appear to be associated with higher growth.  For emerging markets, our results parallel the Baxter and Stockman classic exchange regime neutrality result, though pegs are the least durable and expose countries to higher risk of crisis"--National Bureau of Economic Research web site.
Notes: Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 1/11/2005.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.