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Article dans une revue Applied Economics Année : 2016

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

Résumé

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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halshs-01293590, version 1 (25-03-2016)

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  • HAL Id : halshs-01293590 , version 1

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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, 2016, 48 (46), pp.4393-4409. ⟨halshs-01293590⟩
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