Are Monetary Rules and Reforms Complements or Substitutes? A Panel Analysis for the World versus OECD Countries

Ansgar Belke, Bernhard Herz and Lukas Vogel

Working Papers from Oesterreichische Nationalbank (Austrian Central Bank)

Abstract: This paper investigates the relationship between the exchange rate regime and the degree of structural reforms using panel data techniques. We look at a broad sample of countries (the “world sample”) and also an OECD sample. Our main findings suggest that adopting a fixed exchange rate rule is positively correlated with the degree of overall structural reforms and the trade component. The paper also highlights the fact that considering a heterogeneous panel of countries as opposed to a limited does not matter for this results.

Keywords: exchange rates; monetary policy regime; liberalisation; panel data (search for similar items in EconPapers)
JEL-codes: D78 E52 E61 (search for similar items in EconPapers)
Pages: 51
Date: 2006-07-06
New Economics Papers: this item is included in nep-cba, nep-ifn, nep-knm, nep-mac and nep-mon
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.oenb.at/dam/jcr:fff2cb40-f810-4226-a02 ... p129_tcm16-45583.pdf (application/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:onb:oenbwp:129

Ordering information: This working paper can be ordered from
Oesterreichische Nationalbank, Economic Studies Division, POB 61, A-1011 Vienna, Austria

The price is Free subject to availability.

Access Statistics for this paper

More papers in Working Papers from Oesterreichische Nationalbank (Austrian Central Bank) P.O. Box 61, A-1011 Vienna, Austria. Contact information at EDIRC.
Bibliographic data for series maintained by Markus Knell ().