Exchange Rate Regime Choice in Historical Perspective

Author/Editor:

Michael D. Bordo

Publication Date:

August 1, 2003

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

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.

Series:

Working Paper No. 2003/160

Subject:

English

Publication Date:

August 1, 2003

ISBN/ISSN:

9781451857764/1018-5941

Stock No:

WPIEA1602003

Pages:

28

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