Crises and exchange rate regimes: Times to break down the bipolar view?

Abstract : We revisit the link between crises and exchange rate regimes (ERR). Using a wide panel of 90 developed and developing countries over the period 1980-2009, we find that corner ERR are not more prone to crises compared to intermediate ERR. This finding holds for different types of crises (banking, currency and debt), and is robust to a wide set of alternative specifications. Consequently, we clearly break down the traditional bipolar view: countries that aim at preventing crisis episodes should focus less on the choice of the ERR, and instead implement sound structural macroeconomic policies.
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Applied Economics, Taylor & Francis (Routledge), 2016, 48 (46), pp.4393-4409
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https://halshs.archives-ouvertes.fr/halshs-01293590
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Soumis le : vendredi 25 mars 2016 - 09:26:06
Dernière modification le : lundi 6 mars 2017 - 08:46:44

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Jean-Louis Combes, Alexandru Minea, Mousse Ndoye Sow. Crises and exchange rate regimes: Times to break down the bipolar view?. Applied Economics, Taylor & Francis (Routledge), 2016, 48 (46), pp.4393-4409. <halshs-01293590>

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