From Fixed to Float: A Competing Risks Analysis

This paper examines the determinants of exchange rate regime of a country. A competing risks model (CRM) is estimated. It is found that the way a country exits a fixed exchange rate regime is affected nonlinearly by the duration of the peg. In addition, countries with a lower growth rate of reserves, more incidences of banking crises, higher trade concentration and lower degree of capital-account liberalisation are more likely to have a crisis-driven exit.

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Year of publication:	2014-12-22
Authors:	Chong, Terence Tai Leung ; He, Qing ; Chan, Wing Hong

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Type of publication:	Book / Working Paper
Language:	English
Notes:	Chong, Terence Tai Leung and He, Qing and Chan, Wing Hong (2014): From Fixed to Float: A Competing Risks Analysis.
Classification:	F31 - Foreign Exchange
Source:	BASE

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