Exchange Rate Regime Choice in Historical Perspective

August 1, 2003

Preview Citation

Format: Chicago

Michael D. Bordo Exchange Rate Regime Choice in Historical Perspective, (USA: International Monetary Fund, 2003) accessed November 21, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

In this paper, I survey the issue of exchange rate regime choice from the perspective of both the industrial and emerging economies taking an historical perspective. I first survey the theoretical issues beginning with a taxonomy of regimes. I then examine the empirical evidence on the delineation of regimes and their macroeconomic performance. The penultimate section provides a brief history of monetary regimes in industrial and emerging economies. The conclusion considers the case for a managed float regime for today's emerging economies.

Subject: Commodities, Conventional peg, Currency boards, Exchange rate arrangements, Exchange rates, Foreign exchange, Gold

Keywords: Bretton Woods system, Conventional peg, Core country, Country, Currency boards, East Asia, Europe, Exchange rate, Exchange rate arrangements, Exchange rate regime choice, Exchange rate regimes, Exchange rates, Fiat money, Global, Gold, Gold standard, Member nation, Periphery country, Regime, Regime choice, Regime classification, Western Europe, WP

Publication Details

Pages:

28
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2003/160
Stock No:

WPIEA1602003
ISBN:

9781451857764
ISSN:

1018-5941

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