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Exchange Rate Regimes, Inflation and Growth in Developing Countries -- An Assessment

Author

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  • Bleaney Michael

    (University of Nottingham)

  • Francisco Manuela

    (World Bank and University of Minho)

Abstract

Official and four alternative regime classification schemes based on observed exchange rate behaviour are used to examine the relationship with inflation and growth in 91 developing countries over the period 1984-2001. Apart from one scheme that produces markedly unfavourable results for floating (for reasons that are discussed in the paper), the consistent findings are that (a) floats have similar growth rates to soft pegs and only slightly higher inflation; and (b) hard pegs have lower inflation and slower growth than other regimes.

Suggested Citation

  • Bleaney Michael & Francisco Manuela, 2007. "Exchange Rate Regimes, Inflation and Growth in Developing Countries -- An Assessment," The B.E. Journal of Macroeconomics, De Gruyter, vol. 7(1), pages 1-20, July.
    • Handle: RePEc:bpj:bejmac:v:7:y:2007:i:1:n:18
    DOI: 10.2202/1935-1690.1546
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