Choice of Exchange Rate Regime in Central and Eastern European Countries: an Empirical Analysis

Agnieszka Markiewicz ()

Working Papers of Department of Economics, Leuven from KU Leuven, Faculty of Economics and Business (FEB), Department of Economics, Leuven

Abstract: This paper identifies the sources of divergences between current exchange rate policies in Central and Eastern European countries (CEECs). We use an ordered logit model for the official (de jure) and the actual (de facto) exchange rate classifications. We find that the differences of the exchange rate strategies among CEECs cannot be explained by these classifications. Financial and trade openness are the major determinants of divergences among exchange rate strategies in CEECs. More financially and trade integrated countries switch to more rigid regimes.

Date: 2005-03
New Economics Papers: this item is included in nep-cba, nep-ifn, nep-opm and nep-tra
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Persistent link: https://EconPapers.repec.org/RePEc:ete:ceswps:ces0501

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