Beyond Trade – Is Reform Effort Affected by the Exchange Rate Regime? A Panel Analysis for the World versus OECD Countries

Ansgar Belke, Bernhard Herz and Lukas Vogel

Economie Internationale, 2006, issue 107, 29-58

Abstract: This paper examines the contemporaneous relationship between the exchange rate regime and structural economic reforms over a period of 30 years. We investigate empirically whether structural reforms are complements or substitutes for monetary commitment in the attempt to improve macroeconomic performance. The results contradict the hypothesis that exchange rate commitments may have slowed down the pace of structural reform, but neither provide robust evidence that losing the possibility of an exchange rate adjustment promotes labor and product market reforms.

Keywords: Exchange rates; monetary policy regime; liberalisation; panel data; political economy of reform; exchange rate regime; exchange rate policy; deregulation; models (search for similar items in EconPapers)
JEL-codes: D78 E52 E61 (search for similar items in EconPapers)
Date: 2006
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://www.cepii.fr/IE/rev107/ei107b.htm (text/html)

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:cii:cepiei:2006-3tb

Access Statistics for this article

More articles in Economie Internationale from CEPII research center Contact information at EDIRC.
Bibliographic data for series maintained by ().