Déterminants du choix optimal d’un régime de change dans les pays en voie de développement

Derterminants of an Optimal Exchange Rate Regime In Developing Countries

Ayoub Rabhi

MPRA Paper from University Library of Munich, Germany

Abstract: This paper examines the determinants of the choice of an exchange rate regime by adopting a politico-economic approach, based on an econometric model that combines both an economic and a political dimension; the study is carried out via a panel data probit model for the period 2006-2016 and includes a sample of 19 developing countries. We provide empirical evidence that the political factor is an important determinant in the choice of exchange rate regime for developing countries, on one hand we find that democratic developing countries have a strong tendency to choose flexible exchange rate regimes, on the other hand, the wealth of countries is considered as a crucial element that favors the adoption of flexibility of exchange rate regimes.

Keywords: Exchange rate regimes; panel data; democracy; probit model; developing countries. (search for similar items in EconPapers)
JEL-codes: E5 E6 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:123920

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