The political economy of exchange rate regimes in transition economies
In: The review of international organizations, Band 5, Heft 1, S. 1-25
ISSN: 1559-7431
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In: The review of international organizations, Band 5, Heft 1, S. 1-25
ISSN: 1559-7431
World Affairs Online
SSRN
Working paper
This paper studies Latin American exchange rate regimes since 1960. We model government exchange rate regime choice, constrained by politics. The model implies that the larger the tradable sectors exposed to international competition, the less likely is the maintenance of a fixed exchange rate regime. It also implies that the probability of the maintenance of a fixed exchange rate increases as an election approaches. We evaluate these implications with hazard models to analyze the duration dependence of Latin American exchange rate arrangements from 1960 to 1994. We find substantial empirical evidence to support the model. Results are robust to the inclusion of a variety of other economic and political variables, to different time and country samples, and to different definitions of regime arrangement. Controlling for economic factors, a one percentage point increase in the size of the manufacturing sector is associated with a reduction of six months in the longevity of a country?s currency peg. An impending election increases the conditional likelihood of staying on a peg by about 8 percent, while the aftershock of an election conversely increases the conditional probability of going off a peg by 4 percent.
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In: IMF Staff Papers 55, 3 (September 2008): 417-444
SSRN
In: Studies in comparative international development: SCID, Band 56, Heft 3, S. 297-315
ISSN: 1936-6167
World Affairs Online
In: Politische Vierteljahresschrift: PVS : German political science quarterly, Band 38, Heft 4, S. 896
ISSN: 0032-3470
In: Politische Vierteljahresschrift: PVS : German political science quarterly, Band 38, Heft 4, S. 896-898
ISSN: 0032-3470
In: Latin American politics and society, Band 44, Heft 2, S. 125
ISSN: 1548-2456
In: Bulletin of Latin American research: the journal of the Society for Latin American Studies (SLAS), Band 8, Heft 1, S. 173
ISSN: 1470-9856
In: Comparative political studies: CPS, Band 29, Heft 6, S. 689-717
ISSN: 1552-3829
A similar set of concepts has been central to the literatures on the formation of trade policy coalitions and the "new economics of institutions": the political and economic consequences of the degree to which assets are specific to a particular economic activity. In this survey, the authors take the necessary first step of summarizing the main findings of these two literatures and then suggest ways in which the issue might be joined. In addition to providing a more coherent understanding of the findings of these two literatures and some new directions for them, the authors show that many puzzles remain in the field of trade politics—puzzles for which there are no appealing answers or, where there are answers, no strong evidence in support of them. This essay, then, in addition to being a theoretical review of the literature, puts forward an agenda for future study of international trade politics.
In: Comparative political studies: CPS, Band 29, Heft 6, S. 689-717
ISSN: 0010-4140
In: European Union politics: EUP, Band 1, Heft 2, S. 251-263
ISSN: 1741-2757
In: International organization, Band 61, Heft 4, S. 763-782
ISSN: 0020-8183
World Affairs Online
In: Journal of Interamerican Studies and World Affairs, Band 30, Heft 4, S. 171
In: Comparative political studies: CPS, Band 49, Heft 7, S. 811-1034
ISSN: 0010-4140
World Affairs Online