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Abstract:

We study the relationship between exchange rate regimes and economic growth for a sample of 183 countries over the post-Bretton Woods period, using a new de facto classification of regimes based on the actual behavior of the relevant macroeconomic variables. In contrast with previous studies, we find that, for developing countries, less flexible exchange rate regimes are associated with slower growth, as well as with greater output volatility. For industrial countries, regimes do not appear to have any significant impact on growth. The results are robust to endogeneity corrections and a number of alternative specifications borrowed from the growth literature.

Registro:

Documento: Artículo
Título:To float or to fix: Evidence on the impact of exchange rate regimes on growth
Autor:Levy-Yeyati, E.; Sturzenegger, F.
Filiación:Business School, Universidad Torcuato Di Tella, Miñones 2177, (1428) Buenos Aires, Argentina
Año:2003
Volumen:93
Número:4
Página de inicio:1173
Página de fin:1193
DOI: http://dx.doi.org/10.1257/000282803769206250
Título revista:American Economic Review
Título revista abreviado:Am. Econ. Rev.
ISSN:00028282
Registro:https://bibliotecadigital.exactas.uba.ar/collection/paper/document/paper_00028282_v93_n4_p1173_LevyYeyati

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Citas:

---------- APA ----------
Levy-Yeyati, E. & Sturzenegger, F. (2003) . To float or to fix: Evidence on the impact of exchange rate regimes on growth. American Economic Review, 93(4), 1173-1193.
http://dx.doi.org/10.1257/000282803769206250
---------- CHICAGO ----------
Levy-Yeyati, E., Sturzenegger, F. "To float or to fix: Evidence on the impact of exchange rate regimes on growth" . American Economic Review 93, no. 4 (2003) : 1173-1193.
http://dx.doi.org/10.1257/000282803769206250
---------- MLA ----------
Levy-Yeyati, E., Sturzenegger, F. "To float or to fix: Evidence on the impact of exchange rate regimes on growth" . American Economic Review, vol. 93, no. 4, 2003, pp. 1173-1193.
http://dx.doi.org/10.1257/000282803769206250
---------- VANCOUVER ----------
Levy-Yeyati, E., Sturzenegger, F. To float or to fix: Evidence on the impact of exchange rate regimes on growth. Am. Econ. Rev. 2003;93(4):1173-1193.
http://dx.doi.org/10.1257/000282803769206250