To float or to trail: evidence on the impact of exchange rate regimes
- Autores
- Levy Yeyati, Eduardo; Sturzenegger, Federico
- Año de publicación
- 2001
- Idioma
- inglés
- Tipo de recurso
- documento de conferencia
- Estado
- versión publicada
- Descripción
- We study the relationship between exchange rate regimes and economic growth for a sample of 154 countries over the post-Bretton Woods period (1974-1999), using a new de facto classification of regimes based on the actual behavior of the relevant macroeconomic variables. In contrast with previous studies, we find that, for developing countries, less flexible exchange rate regimes are strongly associated with slower growth, as well as with greater output volatility. For industrial countries, on the contrary, regimes do not appear to have any significant impact on growth. The results are robust to endogeneity corrections and a number of alternative specifications borrowed from the growth literature.
Departamento de Economía - Materia
-
Ciencias Económicas
economía internacional
tipo de cambio - Nivel de accesibilidad
- acceso abierto
- Condiciones de uso
- http://creativecommons.org/licenses/by/3.0/
- Repositorio
.jpg)
- Institución
- Universidad Nacional de La Plata
- OAI Identificador
- oai:sedici.unlp.edu.ar:10915/3778
Ver los metadatos del registro completo
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To float or to trail: evidence on the impact of exchange rate regimesLevy Yeyati, EduardoSturzenegger, FedericoCiencias Económicaseconomía internacionaltipo de cambioWe study the relationship between exchange rate regimes and economic growth for a sample of 154 countries over the post-Bretton Woods period (1974-1999), using a new de facto classification of regimes based on the actual behavior of the relevant macroeconomic variables. In contrast with previous studies, we find that, for developing countries, less flexible exchange rate regimes are strongly associated with slower growth, as well as with greater output volatility. For industrial countries, on the contrary, regimes do not appear to have any significant impact on growth. The results are robust to endogeneity corrections and a number of alternative specifications borrowed from the growth literature.Departamento de Economía2001-05info:eu-repo/semantics/conferenceObjectinfo:eu-repo/semantics/publishedVersionObjeto de conferenciahttp://purl.org/coar/resource_type/c_5794info:ar-repo/semantics/documentoDeConferenciaapplication/pdfhttp://sedici.unlp.edu.ar/handle/10915/3778enginfo:eu-repo/semantics/altIdentifier/url/http://www.depeco.econo.unlp.edu.ar/jemi/2001/trabajo12.pdfinfo:eu-repo/semantics/openAccesshttp://creativecommons.org/licenses/by/3.0/Creative Commons Attribution 3.0 Unported (CC BY 3.0)reponame:SEDICI (UNLP)instname:Universidad Nacional de La Platainstacron:UNLP2025-09-29T10:49:21Zoai:sedici.unlp.edu.ar:10915/3778Institucionalhttp://sedici.unlp.edu.ar/Universidad públicaNo correspondehttp://sedici.unlp.edu.ar/oai/snrdalira@sedici.unlp.edu.arArgentinaNo correspondeNo correspondeNo correspondeopendoar:13292025-09-29 10:49:21.646SEDICI (UNLP) - Universidad Nacional de La Platafalse |
| dc.title.none.fl_str_mv |
To float or to trail: evidence on the impact of exchange rate regimes |
| title |
To float or to trail: evidence on the impact of exchange rate regimes |
| spellingShingle |
To float or to trail: evidence on the impact of exchange rate regimes Levy Yeyati, Eduardo Ciencias Económicas economía internacional tipo de cambio |
| title_short |
To float or to trail: evidence on the impact of exchange rate regimes |
| title_full |
To float or to trail: evidence on the impact of exchange rate regimes |
| title_fullStr |
To float or to trail: evidence on the impact of exchange rate regimes |
| title_full_unstemmed |
To float or to trail: evidence on the impact of exchange rate regimes |
| title_sort |
To float or to trail: evidence on the impact of exchange rate regimes |
| dc.creator.none.fl_str_mv |
Levy Yeyati, Eduardo Sturzenegger, Federico |
| author |
Levy Yeyati, Eduardo |
| author_facet |
Levy Yeyati, Eduardo Sturzenegger, Federico |
| author_role |
author |
| author2 |
Sturzenegger, Federico |
| author2_role |
author |
| dc.subject.none.fl_str_mv |
Ciencias Económicas economía internacional tipo de cambio |
| topic |
Ciencias Económicas economía internacional tipo de cambio |
| dc.description.none.fl_txt_mv |
We study the relationship between exchange rate regimes and economic growth for a sample of 154 countries over the post-Bretton Woods period (1974-1999), using a new de facto classification of regimes based on the actual behavior of the relevant macroeconomic variables. In contrast with previous studies, we find that, for developing countries, less flexible exchange rate regimes are strongly associated with slower growth, as well as with greater output volatility. For industrial countries, on the contrary, regimes do not appear to have any significant impact on growth. The results are robust to endogeneity corrections and a number of alternative specifications borrowed from the growth literature. Departamento de Economía |
| description |
We study the relationship between exchange rate regimes and economic growth for a sample of 154 countries over the post-Bretton Woods period (1974-1999), using a new de facto classification of regimes based on the actual behavior of the relevant macroeconomic variables. In contrast with previous studies, we find that, for developing countries, less flexible exchange rate regimes are strongly associated with slower growth, as well as with greater output volatility. For industrial countries, on the contrary, regimes do not appear to have any significant impact on growth. The results are robust to endogeneity corrections and a number of alternative specifications borrowed from the growth literature. |
| publishDate |
2001 |
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2001-05 |
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info:eu-repo/semantics/conferenceObject info:eu-repo/semantics/publishedVersion Objeto de conferencia http://purl.org/coar/resource_type/c_5794 info:ar-repo/semantics/documentoDeConferencia |
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eng |
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eng |
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