Arbeitspapier
Monetary commitment and structural reforms: A dynamic panel analysis for transition economies
This paper examines the contemporaneous relationship between the exchange rate regime and structural economic reforms for a sample of CEEC/CIS transition countries. We investigate empirically whether structural reforms are complements or substitutes for monetary commitment in the attempt to improve macroeconomic performance. Both EBRD and EFW data suggest a negative relationship between flexible exchange rate arrangements and external liberalization. Another finding from the EFW sample is that economic liberalisation has tended to be stronger under better macroeconomic fundamentals, suggesting that the impact of good macroeconomic conditions as facilitating structural reforms outweighs countervailing effects in the sense of lower reform pressure.
- Sprache
-
Englisch
- Erschienen in
-
Series: IZA Discussion Papers ; No. 6775
- Klassifikation
-
Wirtschaft
Positive Analysis of Policy Formulation and Implementation
Monetary Policy
Policy Objectives; Policy Designs and Consistency; Policy Coordination
Financial Aspects of Economic Integration
- Thema
-
exchange rate regime
structural reform
panel data
political economy of reform
transition countries
Wechselkurssystem
Wirtschaftsreform
Wirtschaftliche Anpassung
Übergangswirtschaft
Public Choice
Transformationsstaaten
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Belke, Ansgar
Vogel, Lukas
- Ereignis
-
Veröffentlichung
- (wer)
-
Institute for the Study of Labor (IZA)
- (wo)
-
Bonn
- (wann)
-
2012
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
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Objekttyp
- Arbeitspapier
Beteiligte
- Belke, Ansgar
- Vogel, Lukas
- Institute for the Study of Labor (IZA)
Entstanden
- 2012
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