Exchange-Rate Regimes in Slovakia and the New EU Member States (in Slovak)

Jarko Fidrmuc and Matus Senaj

Czech Journal of Economics and Finance (Finance a uver), 2006, vol. 56, issue 1-2, 40-57

Abstract: Using a large data set for 167 developed countries and emerging and transition economies, the authors estimate probability models (probit and ordered probit) based on available de jure and de facto classifications for 1970–1995 and 1995–1999. They show that economic openness, trade concentration, and national deficit increase the probability of fixed exchange rates. In contrast, large countries are more likely to choose floating exchange rates then small ones. Financial crisis also increases the probability of more flexible regimes. Finally, the authors present probabilities of adoption of various exchange-rate regimes for selected countries. The results confirm the preference for more rigid exchange-rate regimes (e.g. monetary union) by small EU economies, including the ten new EU member states.

Keywords: economic and monetary union; exchange-rate regimes; ordered probit (search for similar items in EconPapers)
JEL-codes: C33 C35 F42 (search for similar items in EconPapers)
Date: 2006
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://journal.fsv.cuni.cz/storage/1044_s_040_057.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:fau:fauart:v:56:y:2006:i:1-2:p:40-57

Access Statistics for this article

More articles in Czech Journal of Economics and Finance (Finance a uver) from Charles University Prague, Faculty of Social Sciences Contact information at EDIRC.
Bibliographic data for series maintained by Natalie Svarcova ().