Exchange Rate Regime Choice In Historical Perspective
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Exchange Rate Regime Choice in Historical Perspective
Author | : Michael D. Bordo |
Publisher | : International Monetary Fund |
Total Pages | : 29 |
Release | : 2003-08-01 |
Genre | : Business & Economics |
ISBN | : 1451857764 |
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In this paper, I survey the issue of exchange rate regime choice from the perspective of both the industrial and emerging economies taking an historical perspective. I first survey the theoretical issues beginning with a taxonomy of regimes. I then examine the empirical evidence on the delineation of regimes and their macroeconomic performance. The penultimate section provides a brief history of monetary regimes in industrial and emerging economies. The conclusion considers the case for a managed float regime for today's emerging economies.
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