Balance Sheet Effects and the Choice of Exchange Rate Regime in Developing Countries

We investigate the choice of regime amongst hard pegs, soft pegs, managed floats and independent floats for a panel of developing countries. There is evidence of a matched ordering of regimes and country characteristics. We find some evidence for the 'balance sheet' hypothesis that foreign...

Full description

Bibliographic Details
Main Authors:	Bleaney, Michael, Francisco, Manuela
Format:	Journal Article
Language:	EN
Published:	2012
Subjects:	International Monetary Arrangements and Institutions F330 International Linkages to Development Role of International Organizations O190
Online Access:	http://hdl.handle.net/10986/5426

id	okr-10986-5426
recordtype	oai_dc
spelling	okr-10986-54262021-04-23T14:02:22Z Balance Sheet Effects and the Choice of Exchange Rate Regime in Developing Countries Bleaney, Michael Francisco, Manuela International Monetary Arrangements and Institutions F330 International Linkages to Development Role of International Organizations O190 We investigate the choice of regime amongst hard pegs, soft pegs, managed floats and independent floats for a panel of developing countries. There is evidence of a matched ordering of regimes and country characteristics. We find some evidence for the 'balance sheet' hypothesis that foreign liabilities in the banking system and foreign debt are associated with less exchange rate flexibility, particularly when a 'de facto' regime classification is used. Easily the best predictor of a country's current regime is its regime in the previous year. 2012-03-30T07:32:46Z 2012-03-30T07:32:46Z 2008 Journal Article Journal of International Trade and Economic Development 09638199 http://hdl.handle.net/10986/5426 EN http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank Journal Article
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	EN
topic	International Monetary Arrangements and Institutions F330 International Linkages to Development Role of International Organizations O190
spellingShingle	International Monetary Arrangements and Institutions F330 International Linkages to Development Role of International Organizations O190 Bleaney, Michael Francisco, Manuela Balance Sheet Effects and the Choice of Exchange Rate Regime in Developing Countries
relation	http://creativecommons.org/licenses/by-nc-nd/3.0/igo
description	We investigate the choice of regime amongst hard pegs, soft pegs, managed floats and independent floats for a panel of developing countries. There is evidence of a matched ordering of regimes and country characteristics. We find some evidence for the 'balance sheet' hypothesis that foreign liabilities in the banking system and foreign debt are associated with less exchange rate flexibility, particularly when a 'de facto' regime classification is used. Easily the best predictor of a country's current regime is its regime in the previous year.
format	Journal Article
author	Bleaney, Michael Francisco, Manuela
author_facet	Bleaney, Michael Francisco, Manuela
author_sort	Bleaney, Michael
title	Balance Sheet Effects and the Choice of Exchange Rate Regime in Developing Countries
title_short	Balance Sheet Effects and the Choice of Exchange Rate Regime in Developing Countries
title_full	Balance Sheet Effects and the Choice of Exchange Rate Regime in Developing Countries
title_fullStr	Balance Sheet Effects and the Choice of Exchange Rate Regime in Developing Countries
title_full_unstemmed	Balance Sheet Effects and the Choice of Exchange Rate Regime in Developing Countries
title_sort	balance sheet effects and the choice of exchange rate regime in developing countries
publishDate	2012
url	http://hdl.handle.net/10986/5426
_version_	1764395012881121280

Balance Sheet Effects and the Choice of Exchange Rate Regime in Developing Countries

Similar Items