Politics in a Tight Fix: The Role of Politics in Determining the Sustainability of Hard Exchange Rate Regimes - Couverture souple

Healy, Conor

Couverture souple

ISBN 10 : 3639001362 ISBN 13 : 9783639001365

Editeur : VDM Verlag Dr. Müller, 2008

Synopsis

What are the main determinants of exchange rate regime survival and collapse? In particular, what are the structures and institutions of domestic and international politics that best sustain the harder exchange fix arrangements (currency boards, dollarizations and monetary unions)? This work examines the role of political structures in determining the survival prospects of these harder regimes. It looks at domestic and international levels jointly, arguing that they cannot be viewed in isolation as they determine the regime's survival prospects together. It contextualizes the political analysis by combining it with the existing political and economic theory. The study further adopts an empirical approach, using duration models to assess the political and economic determinants of survival. The theory and the statistical analysis then inform three case studies (Argentina, Panama and the African CFA zone). A better understanding of the institutions that sustain a fix regime should allow policymakers to make a more informed decision about when it is most advisable to pursue this policy. Further, the analysis should assist scholars in better understanding not only exchange regime sustainability, but also the role that economics and politics jointly play in shaping successful exchange rate policy more generally.

Détails de l'édition

• Éditeur: VDM Verlag Dr. Müller
• Date d'édition: 2008
• Langue: anglais
• ISBN 10: 3639001362
• ISBN 13: 9783639001365
• Reliure: Broché
• Nombre de pages: 356
• Coordonnées du fabricant: non disponible
• Personne responsable: non disponible