| Description |
1 online resource (27 pages) |
| Series |
IMF working paper, 2227-8885 ; WP/03/59 |
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IMF working paper ; WP/03/59.
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| Summary |
This paper examines whether decisions about the appropriate exchange rate regime in six Central American countries were based on longer-run economic fundamentals or on the confluence of historical and political circumstances. To uncover any actual relationship both across countries and across time, we estimate several probit and multinomial logit models of exchange rate regime choice with data spanning the period 1974-2001. We find that theoretical long-run determinants, such as trade openness, export share with the major trading partner, economic size, and per capita income, are adequate, but not robust, predictors of exchange rate regime choice. However, we were not able to establish a statistically significant association between the terms of trade fluctuations or capital account openness and a particular regime in any specification using our sample |
| Bibliography |
Includes bibliographical references (pages 24-27) |
| Notes |
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL |
|
English |
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digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL |
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Print version record |
| Subject |
Foreign exchange -- Central America -- Econometric models
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Currency question -- Central America -- Econometric models
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Currency question -- Latin America -- Econometric models
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Currency question -- Econometric models
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Foreign exchange -- Econometric models
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Latin America
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Central America
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| Form |
Electronic book
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| Author |
International Monetary Fund. Western Hemisphere Department.
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| ISBN |
1451894805 |
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9781451894806 |
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1281345393 |
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9781281345394 |
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1462318738 |
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9781462318735 |
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1452776504 |
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9781452776507 |
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9786613778963 |
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6613778966 |
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