Does the exchange rate regime shape currency misalignments in emerging and developing countries?

Carl Grekou ()
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Carl Grekou: EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique

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Abstract: Relying on a panel of 73 emerging and developing countries and on de facto exchange rate regimes' classification —over the 1980-2012 period, we re-examine empirically the relationship between exchange rate regimes and currency misalignments. Overall our results suggest that no exchange rate regime performs better than the others as currency misalignments do not substantially and significantly differ across exchange rate regimes. This finding is in contrast to the different arguments (both theoretical and empirical) in favor or against any particular regime and instead supports the exchange regime neutrality view.

Keywords: Currency misalignments; Exchange rate regimes; Emerging and developing countries. (search for similar items in EconPapers)
Date: 2016
Note: View the original document on HAL open archive server: https://hal.science/hal-04141583
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