Evolution and Performance of Exchange Rate Regimes /

Using recent advances in the classification of exchange rate regimes, this paper finds no support for the popular bipolar view that countries will tend over time to move to the polar extremes of free float or rigid peg. Rather, intermediate regimes have shown remarkable durability. The analysis sugg...

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Détails bibliographiques
Auteur principal: Husain, Aasim
Autres auteurs: Brooks, Robin, Mody, Ashoka, Oomes, Nienke
Format: Revue
Langue:English
Publié: Washington, D.C. : International Monetary Fund, 2003.
Collection:IMF Working Papers; Working Paper ; No. 2003/243
Accès en ligne:Full text available on IMF
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245 1 0 |a Evolution and Performance of Exchange Rate Regimes /  |c Aasim Husain, Ashoka Mody, Nienke Oomes, Robin Brooks. 
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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 Using recent advances in the classification of exchange rate regimes, this paper finds no support for the popular bipolar view that countries will tend over time to move to the polar extremes of free float or rigid peg. Rather, intermediate regimes have shown remarkable durability. The analysis suggests that as economies mature, the value of exchange rate flexibility rises. For countries at a relatively early stage of financial development and integration, fixed or relatively rigid regimes appear to offer some anti-inflation credibility gain without compromising growth objectives. As countries develop economically and institutionally, there appear to be considerable benefits to more flexible regimes. For developed countries that are not in a currency union, relatively flexible exchange rate regimes appear to offer higher growth without any cost in credibility. 
538 |a Mode of access: Internet 
700 1 |a Brooks, Robin. 
700 1 |a Mody, Ashoka. 
700 1 |a Oomes, Nienke. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2003/243 
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