Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund. Western Hemisphere Department.
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| ISBN: | 1451894805
9781451894806
1281345393
9781281345394
1462318738
9781462318735
1452776504
9781452776507
9786613778963
6613778966
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| Notes: | Includes bibliographical references (pages 24-27).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | This paper examines whether decisions about the appropriate exchange rate regime in six Central American countries were based on longer-run economic fundamentals or on the confluence of historical and political circumstances. To uncover any actual relationship both across countries and across time, we estimate several probit and multinomial logit models of exchange rate regime choice with data spanning the period 1974-2001. We find that theoretical long-run determinants, such as trade openness, export share with the major trading partner, economic size, and per capita income, are adequate, but not robust, predictors of exchange rate regime choice. However, we were not able to establish a statistically significant association between the terms of trade fluctuations or capital account openness and a particular regime in any specification using our sample.
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| Other form: | Print version: Papaioannou, Michael G. Determinants of the choice of exchange rate regimes in six Central American countries. [Washington, D.C.] : International Monetary Fund, ©2003
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| Standard no.: | 10.5089/9781451894806.001
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