State dependence and exchange rate regime choice
A new empirical explanation to the polarization phenomenon
Bibliographic Data
| ID | 15068136 |
|---|---|
| Authors | Jiye Lu (Shantou University), Najid Ahmad (0000-0002-7305-825X, Hunan University of Science and Technology, corresponding author) |
| Year | 2020 |
| Volume | 33 |
| Issue | 1 |
| Pages | 3209-3237 |
| Publication date | 2020-01-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Economic Research-Ekonomska Istraživanja (JOURNAL) |
| Journal identifiers | ISSN: 1331-677X • E-ISSN: 1848-9664 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/1331677x.2019.1691931 |
| OpenAlex | W2990876225 |
| Language | EN |
| References cited | 34 |
This paper, using the dynamic multinomial choice random effect panel Logit model, and focusing on the intermediate exchange rate regimes, tries to provide new empirical explanations to the special polarization phenomenon. The main findings are as follows: Firstly, the state dependence can influence the choice of exchange rate regimes greatly, and the state dependence can explain the phenomenon of the special polarization. Secondly, the non-state dependence factors influence exchange rate regimes choice of different development stage economies in different manner. The non-state dependence factors can also explain the special polarization. Thirdly, the policy makers will choose the less-flexible exchange rate regimes with the increasing of capital account openness. The intermediate exchange rate regimes can survive and stabilize the economy under certain conditions. Lastly, this paper draws a series of important conclusions and policy implications
Econometrics · Economics · Exchange rate · Macroeconomics · Multinomial logistic regression · Openness to experience · Phenomenon · Physics · Quantum mechanics · Statistics · Chemistry · Fiscal Policies and Political Economy · Global Financial Crisis and Policies · Mathematics · Monetary Policy and Economic Impact · Psychology
Finance and Development
Applied Choice Analysis
Exchange Rates and Financial Fragility
Fear of Floating
The Modern History of Exchange Rate Arrangements
The external wealth of nations mark II
Exchange Rate Regimes in Developing and Emerging Economies and the Incidence of IMF Programs
Why do countries float the way they float
What matters for financial development? Capital controls, institutions, and interactions
Exchange Rate Regime Transitions
The Mirage of Fixed Exchange Rates
Mobility in the Urban Labor Market
Distinguished Lecture on Economics in Government-Exchange Rate Regimes
| Highly cited | No |
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