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This paper proposes a template for assessing whether or not a country's economic and financial characteristics make it an appropriate candidate for a pegged exchange rate regime. The template employs quantifiable measures of attributes-trade orientation, financial integration, economic diversification, macroeconomic stabilization, credibility, and "fear-of-floating" type effects-that have been identified in the literature as key potential determinants of regime choice. To illustrate, the template is applied to Kazakhstan and Pakistan. The results indicate a fairly strong case against a pegged regime in Pakistan. The implications for Kazakhstan are mixed, although changes in that economy in recent years strengthen the case against a peg.
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Econometric models, Foreign exchange ratesPlaces
Kazakhstan, PakistanShowing 1 featured edition. View all 1 editions?
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1
To peg or not to peg: a template for assessing the nobler
2006, International Monetary Fund, Middle East and Central Asia Dept.
in English
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Book Details
Edition Notes
"February 2006."
Includes bibliographical references (p. 26-27).
Also available on the World Wide Web.
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