Exchange Rate Regime Choice in Historical Perspective
28 Pages Posted: 15 Feb 2006
Date Written: August 2003
In this paper, I survey the issue of exchange rate regime choice from the perspective of both the industrial and emerging economies taking an historical perspective. I first survey the theoretical issues beginning with a taxonomy of regimes. I then examine the empirical evidence on the delineation of regimes and their macroeconomic performance. The penultimate section provides a brief history of monetary regimes in industrial and emerging economies. The conclusion considers the case for a managed float regime for today`s emerging economies.
Keywords: Gold standard Bretton Woods system exchange rate regimes
JEL Classification: E42 F31 F33
Suggested Citation: Suggested Citation