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Crises and exchange rate regimes: Times to break down the bipolar view?

Jean-Louis Combes, Alexandru Minea and Mousse Ndoye Sow
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Mousse Ndoye Sow: IMF - International Monetary Fund - International Monetary Fund

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Abstract: We revisit the link between crises and exchange rate regimes (ERR). Using a wide 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; cerdi (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (11)

Published in Applied Economics, 2016, 48 (46), pp.4393-4409

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Related works:
Journal Article: Crises and exchange rate regimes: time to break down the bipolar view? (2016) Downloads
Working Paper: Crises and Exchange Rate Regimes: Time to break down the bipolar view? (2015) Downloads
Working Paper: Crises and Exchange Rate Regimes: Time to break down the bipolar view? (2015) Downloads
Working Paper: Crises and Exchange Rate Regimes: Time to break down the bipolar view? (2013) Downloads
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