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Persistence, capital account openness, and financial sector health in exchange rate regime choice

Chowdhury, Mohammad Tarequl Hasan, Bhattacharya, Prasad Sankar, Mallick, Debdulal and Ulubaşoğlu, Mehmet Ali 2015, Persistence, capital account openness, and financial sector health in exchange rate regime choice, Economic record, vol. 91, no. 294, pp. 279-299, doi: 10.1111/1475-4932.12204.

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Title Persistence, capital account openness, and financial sector health in exchange rate regime choice
Author(s) Chowdhury, Mohammad Tarequl Hasan
Bhattacharya, Prasad Sankar
Mallick, Debdulal
Ulubaşoğlu, Mehmet AliORCID iD for Ulubaşoğlu, Mehmet Ali orcid.org/0000-0003-3055-5755
Journal name Economic record
Volume number 91
Issue number 294
Start page 279
End page 299
Total pages 21
Publisher Wiley
Place of publication Chichester, Eng.
Publication date 2015-09
ISSN 0013-0249
1475-4932
Summary This paper investigates empirically the persistence in exchange rate regimes as well as the role of capital account openness and financial sector health (measured by financial development and financial sector fragility) in exchange rate regime determination for a panel of 143 countries covering the post-Bretton Woods period. The results demonstrate that while low- and high-income countries exhibit highly persistent exchange rate regimes, middle-income countries display relatively lower persistence. For middle-income countries, capital account openness and the level of financial development play important roles in exchange rate regime choice. The fragility of the financial sector does not affect the exchange rate regime determination.
Language eng
DOI 10.1111/1475-4932.12204
Field of Research 140210 International Economics and International Finance
Socio Economic Objective 910104 Exchange Rates
HERDC Research category C1 Refereed article in a scholarly journal
ERA Research output type C Journal article
Copyright notice ©2015, Wiley
Persistent URL http://hdl.handle.net/10536/DRO/DU:30074267

Document type: Journal Article
Collection: Department of Economics
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