汇率制度经典论文之一Levy-Yeyati，Sturzenegger，To Float or to Fix

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浮动还是固定：汇率制度对经济增长的证据，To Float or to Fix: Evidence on the Impact of Exchange Rate Regimes on Growth，Eduardo Levy-Yeyati，Federico Sturzenegger， 发表于American Economic Review，2003（93）。

Abstract

We study therelationship between exchange rate regimes and economic growth for asample of 183 countries over the post-Bretton Woods period, using a newde facto classification of regimes based on the actual behavior of therelevant macroeconomic variables. In contrast with previous studies, wefind that, for developing countries, less flexible exchange rateregimes are associated with slower growth, as well as with greateroutput volatility. For industrial countries, regimes do not appear tohave any significant impact on growth. The results are robust toendogeneity corrections and a number of alternative specificationsborrowed from the growth literature. (JEL F31, F41)

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关键词：STURZENEGGER Levy-Yeyati float YATI 汇率制度 Eduardo Levy-Yeyati

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