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Real exchange rate misalignments in developing countries: The role of exchange rate flexibility and capital account openness

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Date

2020

Authors

Mahraddika, Wishnu

Journal Title

Journal ISSN

Volume Title

Publisher

Documentation Francaise

Abstract

This paper examines the association between real exchange rate (RER) misalignments, exchange rate flexibility, and capital account openness using a panel dataset for 60 developing countries over the period 1980-2014. The analysis is based on an alternative measure of RER that is more consistent with the theoretical concept of RER than the commonly used index, and misalignment estimates that account for country-specific underlying factors. The results suggest that the exchange rate regime and capital account policy are significantly related to the degree of persistence and the magnitude of RER misalignments.

Description

Keywords

Real exchange rate, Exchange rate regime, Capital account openness

Citation

URI

http://hdl.handle.net/1885/295480

Collections

ANU Research Publications

Source

International Economics

Type

Journal article

Book Title

Entity type

Access Statement

License Rights

DOI

10.1016/j.inteco.2020.04.004

Restricted until

2099-12-31

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1-s2.0-S2110701719303270-main.pdf (1.33 MB)

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