IDEAS home Printed from https://ideas.repec.org/a/prs/recofi/ecofi_0987-3368_1999_num_52_2_3534.html
   My bibliography  Save this article

Régime de change et croissance économique en Méditerranée

Author

Listed:
  • Jean-Marc Rizzo

Abstract

[eng] Exchange rate regime and economic growth in the mediterranean area . Inevitably, the monetary authorities of the mediterranean countries will wonder whether they have an incentive to peg their currency to the euro. If they use it as an instrument of anti-inflationary policy or as a mean to achieve credibility, this choice can be beneficial. But, what about a growth target ? Yet, to date, relatively few studies examine the potential for exchange rate regime non-neutrality in terms of growth and the answer remains ambiguous. This paper asks if the exchange rate regime does really matter when growth is a priority. The case of the Mediterranean area is analysed and compared to those of the Latin American and south-east Asian countries. [fre] Inévitablement, les autorités monétaires des pays du sud méditerranéen vont être conduites à se poser la question des bénéfices qu’ils pourraient escompter d’un rattachement de leur monnaie domestique à l’euro. Si leur objectif prioritaire est de réduire l’inflation ou d’acquérir une crédibilité monétaire nul doute que cette option peut se révéler bénéfique. Mais que dire s’il s’agit de doper la croissance ? À ce jour, peu d’études empiriques mettent en lumière les effets du régime de change sur la croissance et il demeure difficile d’apporter une réponse tranchée. La question que pose cet article est justement celle du degré d’importance réel du choix du régime de change dans l’hypothèse où la croissance constitue une priorité. L’expérience passée de la Méditerranée est analysée et mise en perspective au moyen d’une comparaison avec celles de l’Amérique latine et de l’Asie du Sud-Est.

Suggested Citation

  • Jean-Marc Rizzo, 1999. "Régime de change et croissance économique en Méditerranée," Revue d'Économie Financière, Programme National Persée, vol. 52(2), pages 133-145.
  • Handle: RePEc:prs:recofi:ecofi_0987-3368_1999_num_52_2_3534
    DOI: 10.3406/ecofi.1999.3534
    Note: DOI:10.3406/ecofi.1999.3534
    as

    Download full text from publisher

    File URL: https://doi.org/10.3406/ecofi.1999.3534
    Download Restriction: no

    File URL: https://www.persee.fr/doc/ecofi_0987-3368_1999_num_52_2_3534
    Download Restriction: no

    File URL: https://libkey.io/10.3406/ecofi.1999.3534?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Frankel, Jeffrey A. & Romer, David & Cyrus, Teresa, 1995. "Trade and Growth in East Asian Countries: Cause and Effect?," Center for International and Development Economics Research (CIDER) Working Papers 233408, University of California-Berkeley, Department of Economics.
    2. Sebastian Edwards, 1996. "The Determinants of the Choice between Fixed and Flexible Exchange-Rate Regimes," NBER Working Papers 5756, National Bureau of Economic Research, Inc.
    3. Sebastian Edwards, 1995. "Trade Policy, Exchange Rates, and Growth," NBER Chapters, in: Reform, Recovery, and Growth: Latin America and the Middle East, pages 13-52, National Bureau of Economic Research, Inc.
    4. Rizzo, Jean-Marc, 1998. "The economic determinants of the choice of an exchange rate regime: a probit analysis," Economics Letters, Elsevier, vol. 59(3), pages 283-287, June.
    5. Fischer, Stanley, 1993. "The role of macroeconomic factors in growth," Journal of Monetary Economics, Elsevier, vol. 32(3), pages 485-512, December.
    6. Magnus Blomström & Robert E. Lipsey & Mario Zejan, 1996. "Is Fixed Investment the Key to Economic Growth?," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 111(1), pages 269-276.
    7. Mr. Stanley Fischer & Mr. Carlos A. Végh Gramont & Ms. Ratna Sahay, 1996. "Stabilization and Growth in Transition Economies: The Early Experience," IMF Working Papers 1996/031, International Monetary Fund.
    8. Terence C. Mills & Geoffrey E. Wood, 1993. "Does the exchange rate regime affect the economy?," Review, Federal Reserve Bank of St. Louis, issue Jul, pages 3-20.
    9. Jong-Il Kim & Lawrence J. Lau, 1996. "The sources of Asian Pacific economic growth," Canadian Journal of Economics, Canadian Economics Association, vol. 29(s1), pages 448-454, April.
    10. Nazrul Islam, 1995. "Growth Empirics: A Panel Data Approach," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 110(4), pages 1127-1170.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Diaz-Bautista, Alejandro, 2002. "The role of telecommunications infrastructure and human capital: Mexico´s economic growth and convergence," ERSA conference papers ersa02p102, European Regional Science Association.
    2. Celal Kucuker, 2003. "Türkiye Ýktisat Kongresi Büyüme Stratejileri Çalýþma Grubu," Working Papers 2003/5, Turkish Economic Association.
    3. Durlauf, Steven N. & Quah, Danny T., 1999. "The new empirics of economic growth," Handbook of Macroeconomics, in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 4, pages 235-308, Elsevier.
    4. Petreski, Marjan, 2009. "Analysis of exchange-rate regime effect on growth: theoretical channels and empirical evidence with panel data," Economics Discussion Papers 2009-49, Kiel Institute for the World Economy (IfW Kiel).
    5. Robert W. Arnold, 2003. "Modeling Long-Run Economic Growth: Technical Paper 2003-04," Working Papers 14497, Congressional Budget Office.
    6. Domac, Ilker & Peters, Kyle & Yuzefovich, Yevgeny, 2001. "Does the exchange rate regime affect macroeconomic performance : evidence from transition economics," Policy Research Working Paper Series 2642, The World Bank.
    7. Ramon Moreno, 2001. "Pegging and stabilization policy in developing countries," Economic Review, Federal Reserve Bank of San Francisco, pages 17-29.
    8. Baharumshah, Ahmad Zubaidi & Slesman, Ly & Wohar, Mark E., 2016. "Inflation, inflation uncertainty, and economic growth in emerging and developing countries: Panel data evidence," Economic Systems, Elsevier, vol. 40(4), pages 638-657.
    9. Sai Ding & John Knight, 2011. "Why has China Grown So Fast? The Role of Physical and Human Capital Formation," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 73(2), pages 141-174, April.
    10. Ebeke Christian & Fouejieu Armand, 2018. "Inflation targeting and exchange rate regimes in emerging markets," The B.E. Journal of Macroeconomics, De Gruyter, vol. 18(2), pages 1-24, June.
    11. Rajesh Sharma, 2018. "Health and economic growth: Evidence from dynamic panel data of 143 years," PLOS ONE, Public Library of Science, vol. 13(10), pages 1-20, October.
    12. Levy Yeyati, Eduardo & Sturzenegger, Federico & Reggio, Iliana, 2010. "On the endogeneity of exchange rate regimes," European Economic Review, Elsevier, vol. 54(5), pages 659-677, July.
    13. Nicholas Apergis & Stephen M. Miller, 2007. "Total Factor Productivity and Monetary Policy: Evidence from Conditional Volatility," International Finance, Wiley Blackwell, vol. 10(2), pages 131-152, July.
    14. Kosuke Imai & Jeremy Weinstein, 2000. "Measuring the Economic Impact of Civil War," CID Working Papers 51A, Center for International Development at Harvard University.
    15. Aiyar, Shekhar & Duval, Romain & Puy, Damien & Wu, Yiqun & Zhang, Longmei, 2018. "Growth slowdowns and the middle-income trap," Japan and the World Economy, Elsevier, vol. 48(C), pages 22-37.
    16. Jeffrey Frankel & Andrew Rose, 2002. "An Estimate of the Effect of Common Currencies on Trade and Income," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 117(2), pages 437-466.
    17. He, Jie & Roland-Holst, David, 2004. "Chinese Growth and Atmospheric Pollution: An Empirical Assessment of Challenges and Opportunities," Conference papers 331279, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    18. Stephen M. Miller & Frank S. Russek, 2003. "The Relationship Between Large Fiscal Adjustments And Short‐Term Output Growth Under Alternative Fiscal Policy Regimes," Contemporary Economic Policy, Western Economic Association International, vol. 21(1), pages 41-58, January.
    19. Ashvin Ahuja & Thammarak Moenjak, 2002. "Economic Arrangements and Long-Term Growth in Thailand," Working Papers 2002-05, Monetary Policy Group, Bank of Thailand.
    20. Uzma Zia, 2019. "An Evidence of Diverging SAARC Economies," PIDE-Working Papers 2019:170, Pakistan Institute of Development Economics.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:prs:recofi:ecofi_0987-3368_1999_num_52_2_3534. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Equipe PERSEE (email available below). General contact details of provider: https://www.persee.fr/collection/ecofi .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.