Financial Analytics: Science and Experience

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Financial Analytics: Science and Experience

47(137) - 2012 December

Choosing of currency regime by country with emerging economies

ISSUE 47, DECEMBER 2012

Available online: 18 December 2012

Subject Heading: CURRENCY MARKET

JEL Classification:

Novak A.E. Lecturer of department "Financial Management", the National Research University - the Higher School of Economics in Nizhny Novgorod
aenovak@hse.ru

Khvostova I.E. Lecturer of department "Financial Management", the National Research University - the Higher School of Economics in Nizhny Novgorod
ikhvostova@hse.ru

Kabaev V.N. Student of Economic faculty, the National Research University - the Higher School of Economics in Nizhny Novgorod
kabaevslava@mail.ru

The article is devoted to the problem of using fixed exchange rate regime for countries with poorly-developed financial systems. We present and analyze a classification of regimes and problems they cause and solve. The paper investigates peg regimes in five countries with high dependence on foreign market. Using Frankel-Wei methodology and moving average method we show inconsistency between declared currency regimes and the observed ones.

Keywords: exchange rate regime, peg, independent, monetary policy, rolling regression

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ISSN 2311-8768 (Online)
ISSN 2073-4484 (Print)

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