Zhou, Jizhong; von Hagen, Jürgen - Zentrum für Europäische Integrationsforschung (ZEI), … - 2004
This paper uses a panel probit model with simultaneous equations to explain the joint determination of de facto and de jure exchange rate regimes in developing countries since 1980. We also derive an ordered-choice panel probit model to explain the causes of discrepancies between the two regime...