 Do “Flexible” Exchange Rates of Developing Countries Behave Like the Floating Exchange Rates of Industrialized Countries?Peter Wickham No 2002/082, IMF Working Papers from International Monetary Fund Abstract: The paper examines the behavior of daily spot exchange rates for a sample of industrialized countries which are generally considered to be floating with only occasional official foreign exchange market intervention. This behavior is then compared to the behavior of the exchange rates of a sample of sixteen developing countries whose regimes are often classified as being “flexible”. Considerable differences in the way these developing countries’ exchange rate regimes operate is apparent from the daily data, with some sharing similarities with the regimes of the industrialized countries and with others demonstrating regime shifts and other marked discontinuities. Keywords: WP; exchange rate; developing country; dollar; intervention; market; Flexible and floating exchange rates; exchange rate data; exchange market intervention; Kenyan shilling; currency peg; Indian rupee; exchange market pressure; exchange rate objective; low-frequency exchange rate; Zimbabwe dollar; currency board arrangement; Hong Kong dollar; Philippine peso; Exchange rates; Currency markets; Currencies; Exchange rate arrangements; Foreign exchange intervention; Africa; Asia and Pacific (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:imf:imfwpa:2002/082 Ordering information: This working paper can be ordered from Access Statistics for this paper More papers in IMF Working Papers from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC. |
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