Gelişmekte Olan Ülkelerde Döviz Kuru Rejimi Tercihi: Yerel Sorunlara Global Çözümler

Rüstem Yanar

Sosyoekonomi Journal, 2008, issue 2008-2

Abstract: This paper argues “bipolar hypothesis” from the emerging markets perspective. According to this hypothesis, with high capital mobility the only viable exchange rate regime choice is between “hard pegs” and “free floating”. Indeed today the advanced countries are either float or part of Monetary Union. But in Emerging Markets are different from Advanced. This paper investigates choice of exchange rate regime in 25 emerging countries after 1973. In these countries, intermediate regimes exist as implicit or explicit because of economic and financial characteristics, “original sin” and “fear of floating”.

Keywords: Exchange Rate Regime; Bipolarity Hypothesis; Emerging Market Countries. (search for similar items in EconPapers)
JEL-codes: F41 F42 F59 (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:sos:sosjrn:080209

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