Beyond trade : Is reform effort affected by the exchange rate regime?

Titelangaben

Belke, Ansgar ; Herz, Bernhard ; Vogel, Lukas:
Beyond trade : Is reform effort affected by the exchange rate regime?
In: Economie Internationale. Bd. 107 (2006) Heft 3 . - S. 29-58.
ISSN 1777-5582

Volltext

Link zum Volltext (externe URL):

Abstract

This paper examines the contemporaneous relationship between the exchangerate regime and structural economic reforms over a period of 30 years. We investigate empirically whether structural reforms are complements or substitutes for monetary commitment in the attempt to improve macroeconomic performance. The results contradict the hypothesis that exchange rate commitments may have slowed down the pace of structural reform, but neither provide robust evidence that losing the possibility of an exchange rate adjustment promotes labor and product market reforms.