Hagen, Jürgen von; Zhou, Jizhong - 2002 - Preliminary version, May 2002
exchange rate policies in transition economies. Since official and de facto regime choices are not independent of each other …, we adopt a bivariate probit model to describe the joint determination of the two regime choices. After finding the … important determinants of both regime choices, we use a univariate probit model to describe the determination of regime …