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Exchange-rate regimes and economic growth: An empirical evaluation

Simon Sosvilla-Rivero () and María del Carmen Ramos-Herrera
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María del Carmen Ramos-Herrera: Department of Quantitative Economics, Universidad Complutense de Madrid

No 14-01, Working Papers from Asociación Española de Economía y Finanzas Internacionales

Abstract: Based on a dataset of 123 economies, this paper empirically investigates the relation between exchange-rate regimes and economic growth. We find that growth performance is best under intermediate exchange rate regimes, while the smallest growth rates are associated with flexible exchange rates. Nevertheless, this conclusion is tempered when we analyze the countries by income level: even though countries that adopt intermediate exchange-rate regimes are characterized by higher economic growth, the higher the level of income, less difference in growth performance across exchange rate regimes.

Keywords: Exchange rate regime; economic growth (search for similar items in EconPapers)
JEL-codes: E42 F31 (search for similar items in EconPapers)
Pages: 11 pages
Date: 2014-01
New Economics Papers: this item is included in nep-cba, nep-fdg, nep-gro, nep-mac, nep-mon and nep-opm
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Journal Article: Exchange-rate regimes and economic growth: an empirical evaluation (2014) Downloads
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