SavedAdd your journal

Journals / ODTÜ Gelişme Dergisi / 2009 / Cilt: 36 - Sayı: 1

Different exchange rate regimes in terms of inflation and growth outcomes

Ekonomik büyüme ve enflasyon sonuçları bakımından farklı kur rejimi

Yusuf BAYRAKTUTAN
MEHMET HİLMİ ÖZKAYA
Pages
51–70
DOI
—
🏛️Bibliographic metadata and full text access for this article are provided via DergiPark.
DergiPark Record ↗
✨

AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

On the other hand, growth performances of exchange rate regimes do not exhibit significant difference.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:Macroeconomic performance of different exchange rate regimes is expected to be an indicator of choosing exchange rate regimes.
📊
Key Findings & Data:This study focuses on this indicator; ie, it aims to evaluate macroeconomic performance of exchange rate regimes considering inflation and growth criteria.
💡
Conclusion & Impact:On the other hand, growth performances of exchange rate regimes do not exhibit significant difference.
🔬Design:Research Article
📍Scope:2004 Verileri
⚙️Variables:Domain Parameters

Abstract

Macroeconomic performance of different exchange rate regimes is expected to be an indicator of choosing exchange rate regimes. This study focuses on this indicator; ie, it aims to evaluate macroeconomic performance of exchange rate regimes considering inflation and growth criteria. According to the ampirical results of this study, which uses the data of 97 countries for 1975-2004 period and de jure classification, and which adopts panel data methodology, fixed exchange rate regimes indicate the best inflation performance. The results of the analysis varies in the countries with different income. Accordingly, the more the level of income increases, the less is the difference in inflation performances of Exchange rate regimes. On the other hand, growth performances of exchange rate regimes do not exhibit significant difference.

Özet

Bu çalışmanın amacı, farklı kur rejimlerinin makroekonomik performans sonuçlarını enflasyon ve büyüme bağlamında değerlendirmektir. 1975-2004 dönemi ve 97 ülkeyi kapsayan, resmi sınıflandırma ve panel veri analiz yöntemini benimseyen analizin sonuçlarına göre, en iyi enflasyon performansını sabit kur rejimleri ortaya koymaktadır. Farklı gelir grubuna ait ülkelerde analiz sonuçları değişmekte; gelir seviyesi arttıkça kur rejimleri arasındaki enflasyon performans farklılığı azalmaktadır. Buna karşılık, farklı kur rejimlerinin büyüme performansları önemli derecede farklılık göstermemektedir.

🔖

Cite This Article

BAYRAKTUTAN, Y., ÖZKAYA, M. H. (2009). Different exchange rate regimes in terms of inflation and growth outcomes. ODTÜ Gelişme Dergisi, Cilt: 36 - Sayı: 1, 51–70. https://ajindex.com/articles/292056

📄 Full Text PDF Viewer

📄

PDF görüntüleyici hazırlanıyor...

References (10)

  1. Aghevlı, Buan, B., Khan, M. S. and Montıel, P. J. (1991), "Exchange Rate Policy in Developing Countries: Some Analytical Issues", IMF Occasional Paper 78. AlZENMAN, J. (1994), "Monetary and Real Shocks, Productive Capacity and Exchange Rate Regimes", Economica, 61 (244), 407-34.
  2. Baıllıu, J. (2000), "Private Capital Flows, Financial Development, and Economic Growth in Developing Countries", Bank of Canada Working Paper, No, 2000-15M. Bailliu, J., Lafrance, R. and Perrault, F. (2000), "Exchange Rate Regimes and Economic Growth in Emerging Markets", Bank of Canada Conference Paper, (Çevrimiçi) http://www.bankofcanada.ca/en/res/wp/2000/bailliu.pdf, 23.05.2005. ------(2002), "Does Exchange Rate Policy Matter For Growth?", Bank of Canada Working Paper 2002-17, 2002.
  3. Barlevy, G. (2006), "The Cost of Business Cycles under Endogenous Growth", (Çevrimiçi)http://www.faculty.econ.northwestern.edu/faculty/barlevy/lucas6.pdf,15.05.2006.
  4. BLEANEY, M. (2001), "Exchange Rate Regimes and Inflation Persistence", IMF Staff Papers, Vol. 47, No 3, 2001, 387-401.
  5. BOHM, H, and FUNKE, M. (2001), "Does The Nominal Exchange Rate Regime Matter For Investment?", CESifo Working Paper, No, 578. BORDO, M. D. (2004), "Exhange Rate Regimes for The Twenty-First Century: An Historical Perspective", Oesterreichische Nationalbank Working Paper, No: 92, 12-13.
  6. BRODA, C. (2004), "Terms of Trade and Exchange Rate Regimes in Developing Countries", Journal of International Economics, 63, 2004, 31-58.
  7. BUBULA, A. and ÖTKER-ROBE, İ. (2002), "The Evolution of Exchange Rate Regimes Since 1990: Evidence From De Facto Policies", IMF Working Paper, 02/155. CALVO, G. A., and Reinhart, C. M. (2000), "Fear of Floating", NBER Working Paper Series, No: 7993. Calvo, G. A., Reinhart, C. M. and Vegh, C. A. (1994), "Targeting The Real Exchange Rate: Theory and Evidence", IMF Working Paper, No: 94/22. Chang, R. and Valesco, A. (2000), "Exchange Rate Policy For Developing Countries",The American Economic Review, 90 (2), 71-75.
  8. COTE, A. (1994), "Exchange Rate Volatility and Trade: A Survey", Bank of Canada Working Paper, No, 1994-5.
  9. COUDERT, V. and DUBERT, M. (2004), "Does Exchange Regime Explain Differences in Economic Results For Asian Countries?", CEPR Working Paper, No: 2004-05.
  10. DEVEREUX, M. (2000), "A Simple Dynamic General Equilibrium Model of Trade-off Between Fixed and Floating Exchange Rates", CEPR Working Paper, No: 2403. DOMAÇ, İ., Kyle P. and Yuzefovıch, Y. (2001), "Does The Exchange Regime Affect Macroecon