Country Characteristics and the Choice of the Exchange Rate Regime: Are Mini-skirts Followed by Maxis? |
Common terms and phrases
alternative exchange alternative exchange rate annual observations covering Bank of Finland binomial models concentration of foreign countries are classified countries peg currencies float currency composite dependent variable obtains developing countries DIVCOM diversification of foreign diversification of trade DIVGEO EMS countries EMS economies exchange rate arrangements exchange rate fluctuations exchange rate practices exchange rate regime exchange rate system flexible exchange rate floaters floating exchange rate fluctuations in exchange FOLLOWED BY MAXIS foreign trade GDPCAP geographical diversification Group B Group IMF's classification INCONV inconvertibility dummy independently floating international financial integration international trade Kruskal-Wallis test large countries let their currencies logit logit and probit Mann-Whitney test means and medians medians of country microeconomic nonordered Nordic countries obtains the value optimal currency areas probit models producing sector real sector restrict exchange rate restrict fluctuations rigid exchange rate single currency small economies subgroups tend to restrict terms of trade U.S. dollar