Fixed Exchange Rate Regimes and Price Stability: Evidence from MENA Countries

Darine Ghanem

Working Papers from LAMETA, Universtiy of Montpellier

Abstract: In this study, we empirically test whether pegged regime was successful in achieving and maintaining consistently low inflation rates in 17 MENA countries over the period of 1980-2007. Taking into account unobserved country heterogeneity, as well as, the endogeneity of exchange rate regimes we estimate a dynamic panel data model of the effects of exchange rate regimes on inflation using officially announced exchange rate regimes in addition to de facto regimes in place. Our findings suggest a strong link between the choice of the exchange rate regime and inflation performance.[...]

Pages: 37 pages
Date: 2010-11, Revised 2010-11
New Economics Papers: this item is included in nep-ara and nep-mon
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Persistent link: https://EconPapers.repec.org/RePEc:lam:wpaper:10-16

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