The Choice of Exchange Rate Regime in Developing Countries: A Multinational Panel Analysis

This Paper analyses the choices of exchange rate regimes in developing countries since 1980. Static and dynamic random-effects multinomial 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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Year of publication:	2004-02
Authors:	von Hagen, Jürgen ; Zhou, Jizhong
Institutions:	C.E.P.R. Discussion Papers
Subject:	developing countries \| exchange rate regimes \| multinomial logit model \| simulation \| static and dynamic panel

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Extent:	application/pdf
Series:	CEPR Discussion Papers.
Type of publication:	Book / Working Paper
Notes:	Number 4227
Classification:	C25 - Discrete Regression and Qualitative Choice Models ; F33 - International Monetary Arrangements and Institutions ; F41 - Open Economy Macroeconomics
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005789054