Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/33378 
Erscheinungsjahr: 
2005
Schriftenreihe/Nr.: 
IZA Discussion Papers No. 1798
Verlag: 
Institute for the Study of Labor (IZA), Bonn
Zusammenfassung: 
We test the significance of the relationship between the exchange rate regime and the degree of structural reforms by estimating panel regressions for a world and an OECD country sample. The empirical results suggest a positive correlation between on the one side the adoption of an exchange rate rule and on the other side overall structural reforms as well as reforms in the money and banking sector in the broad country sample. For government size and for market regulation, we do not find any robust significant effect, however. The results do not confirm the main implication of Calmfors-type models, namely a higher degree of reforms under monetary policy autonomy. They corroborate conditional policy convergence and, partly, that limiting monetary policy autonomy fosters structural reforms.
Schlagwörter: 
exchange rates
monetary policy regime
liberalisation
panel data
political economy of reform
JEL: 
D78
E52
E61
Dokumentart: 
Working Paper

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