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Exchange arrangements and economic growth. What relationship is there?

Alexis Cruz-Rodriguez

MPRA Paper from University Library of Munich, Germany

Abstract: This article provides empirical support for the hypothesis that different exchange rate regimes have an impact on economic growth in advanced, emerging and developing countries. The effects of different exchange rate arrangements on economic growth are examined through least squares dummy variable regressions using panel data on 125 countries during the post-Bretton Woods period (1974-1999). Also, this article addresses the issue of measurement errors in the classification of exchange rate regimes by using four different classification schemes. Three de facto and one de jure classifications are used. Consequently, the sensitivity of these results to alternative exchange rate classifications is also tested. The empirical findings indicate that developing countries with fixed regimes tend to have a higher economic growth.

Keywords: Exchange rate regimes; economic growth (search for similar items in EconPapers)
JEL-codes: F31 F33 O47 (search for similar items in EconPapers)
Date: 2022-07-25
New Economics Papers: this item is included in nep-fdg, nep-gro and nep-opm
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