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growing. The paper investigates the impact of exchange rate stability on growth for a sample of 41 mostly small open economies … important transmission channels from exchange rate stability to more growth. It is argued that fixed exchange rates provide a … accelerating growth. Panel estimations reveal a robust negative relationship between exchange rate volatility and growth for …
Persistent link: https://www.econbiz.de/10011604819
We investigate official and implicit nominal anchors for six Central and Eastern European countries during 1994 to 2002. Most of these countries have moved from fixed to more flexible regimes and adopted a form of inflation targeting. Achieving their new official targets has had mixed success....
Persistent link: https://www.econbiz.de/10010317614
added up to a total of 4 percentage points to real GDP growth during periods when Thailand had to weather these three major …
Persistent link: https://www.econbiz.de/10011142014
Using panel data for 15 economies from 2001-12, I identify determinants of central bank foreign exchange intervention in emerging markets (“EMsâ€) with flexible to moderately managed exchange rates. Similar to other studies, I find that central banks tend to “lean against the...
Persistent link: https://www.econbiz.de/10011142147
. While not especially susceptible to banking or currency crises, hard pegs are significantly more prone to growth collapses …
Persistent link: https://www.econbiz.de/10011123856
We examine the relationship between South African Rand and gold price volatility using monthly data for the period 1980-2010. Our main findings is that prior to capital account liberalization the causality runs from South African Rand to gold price volatility but the causality runs the other way...
Persistent link: https://www.econbiz.de/10011242268
This paper assesses the role of trade patterns in shaping the volatility of the effective exchange rate under two alternative peg regimes: a hard peg to a single currency and a peg to a basket of currencies. I link the changes in the nominal effective exchange rate of a pegged currency to the...
Persistent link: https://www.econbiz.de/10011242283
This study examines the drivers of growth in Sub-Saharan African countries, using aggregate data, from the past decade …. We correlate recent growth experience to key determinants of growth, including private and public investment, government … specification, higher private and public investments boost growth. Some evidence is found that government consumption exerts a drag …
Persistent link: https://www.econbiz.de/10010790257
assesses the relationship between (i) growth and various determinants, including the exchange regime, the real exchange rate … exchange rate, the exchange regime, and liberalization. We find that in our sample, for the determinants of growth, investment …
Persistent link: https://www.econbiz.de/10010790391
facilitate the exchange of goods, services, and capital, and to sustain sound economic growth. The paper reviews the stability of … the overall system of exchange rates by examining macroeconomic performance (inflation, growth, crises) under alternative …
Persistent link: https://www.econbiz.de/10010790495