Besancenot, Damien; Vranceanu, Radu - In: Revue d'économie politique 116 (2006) 4, pp. 555-574
At the end of the nineties, many developing countries featured an open capital market and relied heavily on dollar-debt financing of their private sector. This paper analyses whether, in this context, adopting a clean floating exchange rate regime can be a sustainable policy choice. In the...