@article {29709,
	title = {Exchange Rate Regime Durability and Performance in Developing versus Advanced Economies},
	journal = {Journal of Monetary Economics},
	volume = {52},
	year = {2005},
	note = {{\textcopyright} Copyright Elsevier Science. Posted with permission of Elsevier Science. One copy may be printed for individual use only.
 NBER Working Paper $\#$10673 },
	pages = {35-64},
	abstract = {Drawing on new data and advances in exchange rate regimes{\textquoteright} classification, we find that countries appear to benefit by having increasingly flexible exchange rate systems as they become richer and more financially developed. For developing countries with little exposure to international capital markets, pegs are notable for their durability and relatively low inflation. In contrast, for advanced economies, floats are distinctly more durable and also appear to be associated with higher growth. For emerging markets, our results parallel the Baxter and Stockman classic exchange regime neutrality result, though pegs are the least durable and expose countries to higher risk of crisis.},
	author = {Aasim Husain and Ashoka Mody and Kenneth Rogoff}
}
