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Preprints, Working Papers, ... Year : 2015

Crises and Exchange Rate Regimes: Time to break down the bipolar view?

Abstract

We revisit the link between crises and exchange rate regimes (ERR). Using a 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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Dates and versions

halshs-00944372 , version 1 (10-02-2014)
halshs-00944372 , version 2 (08-06-2015)

Identifiers

  • HAL Id : halshs-00944372 , version 2

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Jean-Louis Combes, Alexandru Minea, Mousse Ndoye Sow. Crises and Exchange Rate Regimes: Time to break down the bipolar view?. 2015. ⟨halshs-00944372v2⟩
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