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dc.contributor.authorZhou, Jizhongen
dc.contributor.authorvon Hagen, Jürgenen
dc.date.accessioned2006-06-08-
dc.date.accessioned2010-09-01T09:48:56Z-
dc.date.available2010-09-01T09:48:56Z-
dc.date.issued2004-
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
dc.language.isoengen
dc.publisher|aRheinische Friedrich-Wilhelms-Universität Bonn, Zentrum für Europäische Integrationsforschung (ZEI) |cBonnen
dc.relation.ispartofseries|aZEI Working Paper |xB 31-2004en
dc.subject.jelF33en
dc.subject.jelF41en
dc.subject.jelC35en
dc.subject.ddc330en
dc.subject.keywordde facto exchange rate regimesen
dc.subject.keyworddeveloping countriesen
dc.subject.keywordsimultaneous equations modelen
dc.subject.keywordsimulated maximum likelihooden
dc.subject.stwWechselkurssystemen
dc.subject.stwWechselkurspolitiken
dc.subject.stwSchätzungen
dc.subject.stwEntwicklungsländeren
dc.titleFear of floating and fear of pegging: An empirical anaysis of de facto exchange rate regimes in developing countries-
dc.type|aWorking Paperen
dc.identifier.ppn512930651en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:zeiwps:B312004en

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