Are Pegged and Intermediate Regimes More Crisis Prone? /

This paper provides evidence on the susceptibility of different types of exchange rate regimes to currency crises during 1990-2001. It explores the incidence of crises, identified as episodes of severe exchange market pressure, to seek evidence on whether pegged regimes are more crisis prone than fl...

תיאור מלא

מידע ביבליוגרפי
מחבר ראשי: Bubula, Andrea
מחברים אחרים: Otker, Inci
פורמט: כתב-עת
שפה:English
יצא לאור: Washington, D.C. : International Monetary Fund, 2003.
סדרה:IMF Working Papers; Working Paper ; No. 2003/223
גישה מקוונת:Full text available on IMF
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490 1 |a IMF Working Papers 
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500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a This paper provides evidence on the susceptibility of different types of exchange rate regimes to currency crises during 1990-2001. It explores the incidence of crises, identified as episodes of severe exchange market pressure, to seek evidence on whether pegged regimes are more crisis prone than floating regimes and on whether certain types of pegged regimes are more crisis prone than others. The paper finds that pegged regimes, as a whole, have been characterized by a higher incidence of crises than floating regimes, for countries that are more integrated with international capital markets; and that intermediate regimes (mainly soft pegs and tightly-managed floating regimes) have been more crisis prone than both hard pegs and other floating regimes-a view consistent with the bipolar view of exchange rate regimes. The degree of crisis proneness seems to be broadly similar across different types of intermediate regimes. 
538 |a Mode of access: Internet 
700 1 |a Otker, Inci. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2003/223 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2003/223/001.2003.issue-223-en.xml  |z IMF e-Library