Cover Evolution and Performance of Exchange Rate Regimes
Evolution and Performance of Exchange Rate Regimes
Download PDF (10.9 MB) Download Epub

Abstract

The issue of the appropriate exchange rate regime for individual countries has been perennially lively, and the role played by international capital flows and domestic financial systems in determining the performance of these regimes has gained prominence in the policy debate. Using recent advances in the classification of exchange rate regimes, the key message in this paper is that, as economies and their institutions mature, the value of exchange rate flexibility increases. This study assesses the historical durability and performance of alternative exchange rate regimes, with special focus on developing and emerging market countries. It describes trends in the distribution of regimes and examines the transitions between regimes. It also reviews the performance of exchange rate regimes in terms of inflation and business cycles.

Buy Book in Print
Author:
Mr. Robin Brooks
Search for other papers by Mr. Robin Brooks in
Current site
Google Scholar
PubMed Close
,
Mr. Kenneth Rogoff
Search for other papers by Mr. Kenneth Rogoff in
Current site
Google Scholar
PubMed Close
,
Mr. Ashoka Mody https://isni.org/isni/0000000404811396 International Monetary Fund

Search for other papers by Mr. Ashoka Mody in
Current site
Google Scholar
PubMed Close
,
Nienke Oomes https://isni.org/isni/0000000404811396 International Monetary Fund

Search for other papers by Nienke Oomes in
Current site
Google Scholar
PubMed Close
, and
Mr. Aasim M. Husain
Search for other papers by Mr. Aasim M. Husain in
Current site
Google Scholar
PubMed Close
Series:
Occasional Papers
Publisher:
International Monetary Fund
Language:
English
Publication Date:
26 May 2004
DOI:
https://doi.org/10.5089/9781589063273.084
ISBN:
9781589063273
ISSN:
0251-6365
Pages:
62
Keywords:
OP; regime; inflation benefit; policy credibility; policy goal; country; intermediate regime; regime choice; Exchange rate arrangements; Emerging and frontier financial markets; Exchange rate flexibility; Exchange rates; Inflation; Global; East Asia
Legal-disclaimer:
The views expressed in this book are those of the authors and should not be reported as or attributed to the International Monetary Fund, its Executive Board, or the governments of any of its member countries.
  • Collapse
  • Expand