State dependence and exchange rate regime choice: a new empirical explanation to the polarization phenomenon
This paper, using the dynamic multinomial choice random effect panel Logit model, and focusing on the intermediate exchange rate regimes, tries to provide new empirical explanations to the special polarization phenomenon. The main findings are as follows: Firstly, the state dependence can influence...
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Online Access: | http://dx.doi.org/10.1080/1331677X.2019.1691931 |
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doaj-cdfb3069b0d9468d8a8a97d057195c012021-04-06T13:27:28ZengTaylor & Francis GroupEkonomska Istraživanja1331-677X1848-96642020-01-013313209323710.1080/1331677X.2019.16919311691931State dependence and exchange rate regime choice: a new empirical explanation to the polarization phenomenonJiye Lu0Najid Ahmad1School of Business, Shantou UniversitySchool of Business, Hunan University of Science and TechnologyThis paper, using the dynamic multinomial choice random effect panel Logit model, and focusing on the intermediate exchange rate regimes, tries to provide new empirical explanations to the special polarization phenomenon. The main findings are as follows: Firstly, the state dependence can influence the choice of exchange rate regimes greatly, and the state dependence can explain the phenomenon of the special polarization. Secondly, the non-state dependence factors influence exchange rate regimes choice of different development stage economies in different manner. The non-state dependence factors can also explain the special polarization. Thirdly, the policy makers will choose the less-flexible exchange rate regimes with the increasing of capital account openness. The intermediate exchange rate regimes can survive and stabilize the economy under certain conditions. Lastly, this paper draws a series of important conclusions and policy implications.http://dx.doi.org/10.1080/1331677X.2019.1691931exchange rate regimes choicespecial polarizationstate dependence |
collection |
DOAJ |
language |
English |
format |
Article |
sources |
DOAJ |
author |
Jiye Lu Najid Ahmad |
spellingShingle |
Jiye Lu Najid Ahmad State dependence and exchange rate regime choice: a new empirical explanation to the polarization phenomenon Ekonomska Istraživanja exchange rate regimes choice special polarization state dependence |
author_facet |
Jiye Lu Najid Ahmad |
author_sort |
Jiye Lu |
title |
State dependence and exchange rate regime choice: a new empirical explanation to the polarization phenomenon |
title_short |
State dependence and exchange rate regime choice: a new empirical explanation to the polarization phenomenon |
title_full |
State dependence and exchange rate regime choice: a new empirical explanation to the polarization phenomenon |
title_fullStr |
State dependence and exchange rate regime choice: a new empirical explanation to the polarization phenomenon |
title_full_unstemmed |
State dependence and exchange rate regime choice: a new empirical explanation to the polarization phenomenon |
title_sort |
state dependence and exchange rate regime choice: a new empirical explanation to the polarization phenomenon |
publisher |
Taylor & Francis Group |
series |
Ekonomska Istraživanja |
issn |
1331-677X 1848-9664 |
publishDate |
2020-01-01 |
description |
This paper, using the dynamic multinomial choice random effect panel Logit model, and focusing on the intermediate exchange rate regimes, tries to provide new empirical explanations to the special polarization phenomenon. The main findings are as follows: Firstly, the state dependence can influence the choice of exchange rate regimes greatly, and the state dependence can explain the phenomenon of the special polarization. Secondly, the non-state dependence factors influence exchange rate regimes choice of different development stage economies in different manner. The non-state dependence factors can also explain the special polarization. Thirdly, the policy makers will choose the less-flexible exchange rate regimes with the increasing of capital account openness. The intermediate exchange rate regimes can survive and stabilize the economy under certain conditions. Lastly, this paper draws a series of important conclusions and policy implications. |
topic |
exchange rate regimes choice special polarization state dependence |
url |
http://dx.doi.org/10.1080/1331677X.2019.1691931 |
work_keys_str_mv |
AT jiyelu statedependenceandexchangerateregimechoiceanewempiricalexplanationtothepolarizationphenomenon AT najidahmad statedependenceandexchangerateregimechoiceanewempiricalexplanationtothepolarizationphenomenon |
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1721538264779718656 |