发帖
雷达卡
发达经济体和发展中经济体汇率制度的持久性和表现，EXCHANGE RATE REGIME DURABILITY AND PERFORMANCE IN DEVELOPING VERSUS ADVANCED ECONOMIES，Aasim M. Husain,Ashoka Mody，Kenneth S. Rogoff，发表于July 2004。
ABSTRACT
Drawing on new data and advances in exchange rate regimes’ classification, we find that countries appear to benefit by having increasingly flexible exchange rate systems as they become richer and more financially developed. For developing countries with little exposure to international capital markets, pegs are notable for their durability and relatively low inflation. In contrast, for advanced economies, floats are distinctly more durable and also appear to be associated with higher growth. For emerging markets, our results parallel the Baxter and Stockman classic exchange regime neutrality result, though pegs are the least durable and expose countries to higher risk of crisis.
京公网安备 11010802022788号
