Exchange-rate regimes and economic growth: An empirical evaluation
| dc.contributor.author | Sosvilla Rivero, Simón Javier | |
| dc.contributor.author | Ramos-Herrera, María del Carmen | |
| dc.date.accessioned | 2023-06-19T14:54:22Z | |
| dc.date.available | 2023-06-19T14:54:22Z | |
| dc.date.issued | 2014 | |
| dc.description.abstract | Based on a dataset of 123 economies, this paper empirically investigates the relation between exchange-rate regimes and economic growth. We find that growth performance is best under intermediate exchange rate regimes, while the smallest growth rates are associated with flexible exchange rates. Nevertheless, this conclusion is tempered when we analyze the countries by income level: even though countries that adopt intermediate exchange-rate regimes are characterized by higher economic growth, the higher the level of income, less difference in growth performance across exchange rate regimes. | |
| dc.description.department | Depto. de Análisis Económico y Economía Cuantitativa | |
| dc.description.faculty | Fac. de Ciencias Económicas y Empresariales | |
| dc.description.refereed | TRUE | |
| dc.description.sponsorship | Spanish Ministry of Economy and Competitiveness | |
| dc.description.status | pub | |
| dc.eprint.id | https://eprints.ucm.es/id/eprint/30649 | |
| dc.identifier.doi | 10.1080/13504851.2014.894625 | |
| dc.identifier.issn | 1350-4851 | |
| dc.identifier.officialurl | http://www.tandfonline.com/loi/rael20#.VW3gF8_tmkp | |
| dc.identifier.uri | https://hdl.handle.net/20.500.14352/34695 | |
| dc.issue.number | 12 | |
| dc.journal.title | Applied Economics Letters | |
| dc.language.iso | eng | |
| dc.page.final | 873 | |
| dc.page.initial | 870 | |
| dc.publisher | Taylor & Francis | |
| dc.relation.projectID | ECO2011-23189 | |
| dc.rights.accessRights | open access | |
| dc.subject.jel | E42 | |
| dc.subject.jel | F31 | |
| dc.subject.keyword | Exchange rate regime | |
| dc.subject.keyword | Economic growth | |
| dc.subject.ucm | Desarrollo económico | |
| dc.subject.ucm | Econometría (Economía) | |
| dc.subject.ucm | Economía internacional | |
| dc.subject.unesco | 5307.03 Modelos y Teorías del desarrollo Económico | |
| dc.subject.unesco | 5307.04 Estudios del desarrollo Económico | |
| dc.subject.unesco | 5302 Econometría | |
| dc.subject.unesco | 5310 Economía Internacional | |
| dc.title | Exchange-rate regimes and economic growth: An empirical evaluation | |
| dc.type | journal article | |
| dc.volume.number | 21 | |
| dcterms.references | Bailliu, J., Lafrance, R. and Perrault, J. F. (2003) Does exchange rate policy matter for growth?, International Finance, 6, 381–414. doi:10.1111/j.1367-0271.2003.00123.x . De Grauwe, P. and Schnabl, G. (2004) Exchange rates regimes and macroeconomic stability in Central and Eastern Europe, Working Paper 1182, CESifo, Munich. Dornbusch, R. (2001) Fewer monies better monies, discussion on exchange rates and the choice of monetary-policy regimes, The American Economic Review, 91, 238–42. doi:10.1257/aer.91.2.238 . Edwards, S. and Levy-Yeyati, E. L. (2005) Flexible exchange rates as shock absorbers, European Economic Review, 49, 2079–105. doi:10.1016/j.euroecorev.2004.07.002 . Friedman, M. (1953) The case for flexible exchange rates, in Essays in Positive Economics, Friedman, M. (Ed), University of Chicago Press, Chicago, IL, pp. 157–203. Ghosh, A., Gulde, A. and Wolf, H. (2002) Exchange Rate Regimes: Choices and Consequences, MIT Press, Cambridge, MA. Ilzetzki, E. O., Reinhart, C. M. and Rogoff, K. S. (2011) Exchange rate arrangements entering the 21st century: which anchor will hold? Unpublished, University of Maryland and Harvard University. Mundell, R. A. (1995) Exchange rate systems and economic growth, Rivista Di Politica Economica, 83, 3–36. Newey, W. K. and West, K. D. (1987) A simple, positive semidefinite, heteroskedasticity and autocorrelation consistent covariance matrix, Econometrica, 55, 703–8. doi:10.2307/1913610 . Obstfeld, M. and Rogoff, K. (2000) New directions for stochastic open economy models, Journal of International Economics, 50, 117–53. doi:10.1016/S0022-1996(99)00034-3 . Petreski, M. (2009) Exchange-rate regime and economic growth: a review of the theoretical and empirical literature, Economics, Discussion Paper No. 2009–31, Kiel Institute for the World Economy, Kiel. Reinhart, C. M. and Rogoff, K. S. (2004) The modern history of exchange rate arrangements: a reinterpretation, The Quarterly Journal of Economics, 119, 1–48. doi:10.1162/003355304772839515 . | |
| dspace.entity.type | Publication | |
| relation.isAuthorOfPublication | 13e83682-e923-4f28-a770-1140d295a334 | |
| relation.isAuthorOfPublication.latestForDiscovery | 13e83682-e923-4f28-a770-1140d295a334 |
Download
Original bundle
1 - 1 of 1
Loading...
- Name:
- Exchange-rate regimes and growth-AEL (final%2C enviado).pdf
- Size:
- 98.66 KB
- Format:
- Adobe Portable Document Format
