Exchange-rate regimes and economic growth: An empirical evaluation
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. Neve...
| Autores: | , |
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| Tipo de recurso: | artículo |
| Fecha de publicación: | 2014 |
| País: | España |
| Institución: | Universidad Complutense de Madrid (UCM) |
| Repositorio: | Docta Complutense |
| Idioma: | inglés |
| OAI Identifier: | oai:docta.ucm.es:20.500.14352/34695 |
| Acceso en línea: | https://hdl.handle.net/20.500.14352/34695 |
| Access Level: | acceso abierto |
| Palabra clave: | E42 F31 Exchange rate regime Economic growth Desarrollo económico Econometría (Economía) Economía internacional 5307.03 Modelos y Teorías del desarrollo Económico 5307.04 Estudios del desarrollo Económico 5302 Econometría 5310 Economía Internacional |
| Sumario: | 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. |
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