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dc.contributor.authorZhou, Jizhongen_US
dc.contributor.authorvon Hagen, Jürgenen_US
dc.date.accessioned2006-06-08en_US
dc.date.accessioned2010-09-01T09:48:56Z-
dc.date.available2010-09-01T09:48:56Z-
dc.date.issued2004en_US
dc.identifier.urihttp://hdl.handle.net/10419/39625-
dc.description.abstractThis paper uses a panel probit model with simultaneous equations to explain the joint determination of de facto and de jure exchange rate regimes in developing countries since 1980. We also derive an ordered-choice panel probit model to explain the causes of discrepancies between the two regime choices. Both models are estimated using simulation-based maximum likelihood methodsl. The results of the simultaneous equations model suggest that the two regime choices are dependent of each other and exhibit considerable state dependence. The ordered probit model provides evidence that regime discrepancies reflect an error-correction mechanism, and the discrepancies are persistent over time.en_US
dc.language.isoengen_US
dc.publisherZEI Bonnen_US
dc.relation.ispartofseriesZEI working paper B 31-2004en_US
dc.subject.jelF33en_US
dc.subject.jelF41en_US
dc.subject.jelC35en_US
dc.subject.ddc330en_US
dc.subject.keywordde facto exchange rate regimesen_US
dc.subject.keyworddeveloping countriesen_US
dc.subject.keywordsimultaneous equations modelen_US
dc.subject.keywordsimulated maximum likelihooden_US
dc.subject.stwWechselkurssystemen_US
dc.subject.stwWechselkurspolitiken_US
dc.subject.stwSchätzungen_US
dc.subject.stwEntwicklungsländeren_US
dc.titleFear of floating and fear of pegging: An empirical anaysis of de facto exchange rate regimes in developing countriesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn512930651en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:zeiwps:B312004-
Appears in Collections:ZEI Working Papers, Zentrum für Europäische Integrationsforschung, Universität Bonn

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