Crises and Exchange Rate Regimes: Time to break down the bipolar view?

Jean-Louis Combes, Alexandru Minea and Mousse Sow ()

No 201326, Working Papers from CERDI

Abstract: We revisit the link between crises and exchange rate regimes (ERR). Using a panel of 90 developed and developing countries over the period 1980-2009, we find that corner ERR are not more prone to crises compared to intermediate ERR. This finding holds for different types of crises (banking, currency and debt), and is robust to a wide set of alternative specifications. Consequently, we clearly break down the traditional bipolar view: countries that aim at preventing crisis episodes should focus less on the choice of the ERR, and instead implement sound structural macroeconomic policies.

Keywords: Exchange rate regimes; Economic crises; Bipolar view (search for similar items in EconPapers)
JEL-codes: C35 F33 G1 (search for similar items in EconPapers)
Pages: 45
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Published in Applied Economics, 2016, pages 4393-4409
Published in Applied Economics

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Related works:
Journal Article: Crises and exchange rate regimes: time to break down the bipolar view? (2016)
Working Paper: Crises and exchange rate regimes: Times to break down the bipolar view? (2016)
Working Paper: Crises and Exchange Rate Regimes: Time to break down the bipolar view? (2015)
Working Paper: Crises and Exchange Rate Regimes: Time to break down the bipolar view? (2015)
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