Choice and Performance of Exchange Rate Regimes in Developing Countries: The Case of Chile

Miguel Gouvêa and António Portugal Duarte
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Miguel Gouvêa: University of Coimbra, Faculty of Economics

Chapter 19 in Contemporary Issues in the Integration Processes of Western Balkan Countries in the European Union, pp 304-321 from Institute of Economic Sciences

Abstract: Although an optimal exchange rate regime is dependent on country’s characteristics, intermediate regimes, especially the Managed Floating Plus (MFP) regime and Basket, Band and Crawling Peg (BBC) regime, seem to be viable options for developing countries. This work aims to analyze the issue of exchange rate regime choice and macroeconomic performance in developing countries, particularly in Chile. The analysis of exchange rate volatility, foreign exchange reserves volatility, inflation rate variation and export growth rate seems to prove that the adoption of the crawling band regime was an effective option as a successful transition to a more flexible exchange rate regime.

Keywords: BBC; Chile; macroeconomic performance; MFP; exchange rate regime (search for similar items in EconPapers)
JEL-codes: E42 F31 F40 O24 (search for similar items in EconPapers)
ISBN: 978-961-93203-0-3
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