The Duration of Intermediate Exchange Rate Regimes and Capital Controls

Raul Razo-Garcia

No 11-01, Carleton Economic Papers from Carleton University, Department of Economics

Abstract: We perform a survival analysis of the policy composed of an intermediate exchange rate regime and a closed financial account. The analysis proposed is novel because we overcome the potential endogeneity between the two policies by analyzing the duration of the policy mix, estimate a multiple destinations model and control for unobserved heterogeneity. The deepness of the financial system, inflation, per capita income, size, trade openness, and the global acceptance of intermediate regimes and capital controls affect the duration of the policy mix. Finally, the evidence shows that the single destination model hides interesting factors affecting the duration of the regime.

JEL-codes: F32 F33 (search for similar items in EconPapers)
Pages: 40 pages
Date: 2011-01-31, Revised 2011-10-17
New Economics Papers: this item is included in nep-ifn, nep-mon and nep-opm
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Published: Carleton Economic Papers

Downloads: (external link)
http://www.carleton.ca/economics/wp-content/uploads/cep11-01.pdf

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:car:carecp:11-01

Ordering information: This working paper can be ordered from

Access Statistics for this paper

More papers in Carleton Economic Papers from Carleton University, Department of Economics C870 Loeb Building, 1125 Colonel By Drive, Ottawa Ontario, K1S 5B6 Canada.
Bibliographic data for series maintained by Court Lindsay ().