메뉴 건너뛰기




Volumn 30, Issue 5, 2007, Pages 709-732

Why the middle is unstable: The political economy of exchange rate regimes and currency crises

Author keywords

[No Author keywords available]

Indexed keywords

CURRENCY; ECONOMIC INSTABILITY; EXCHANGE RATE; POLITICAL ECONOMY;

EID: 34247339691     PISSN: 03785920     EISSN: 14679701     Source Type: Journal    
DOI: 10.1111/j.1467-9701.2007.01023.x     Document Type: Article
Times cited : (21)

References (59)
  • 2
    • 0000652243 scopus 로고
    • 'Why Are Stabilizations Delayed?'
    • Alesina, A. and A. Drazen (1991), 'Why Are Stabilizations Delayed?', American Economic Review, 81, 5, 1170-88.
    • (1991) American Economic Review , vol.81 , Issue.5 , pp. 1170-1188
    • Alesina, A.1    Drazen, A.2
  • 4
    • 85022947074 scopus 로고    scopus 로고
    • 'Financial Interdependence and the State'
    • (Summer)
    • Andrews, D. and T. D. Willett (1997), 'Financial Interdependence and the State', International Organization, 51 (Summer), 479-511.
    • (1997) International Organization , vol.51 , pp. 479-511
    • Andrews, D.1    Willett, T.D.2
  • 7
    • 0003991207 scopus 로고    scopus 로고
    • Arbertman, M. and J. Kugler (eds.) (Boulder, CO: Westview Press)
    • Arbertman, M. and J. Kugler (eds.) (1997), Political Capacity & Economic Behavior (Boulder, CO: Westview Press).
    • (1997) Political Capacity & Economic Behavior
  • 9
    • 33745772474 scopus 로고    scopus 로고
    • 'Sustaining Fixed Rates: The Political Economy of Currency Pegs in Latin America'
    • Blomberg, S. B., J. Frieden and E. H. Stein (2005), 'Sustaining Fixed Rates: The Political Economy of Currency Pegs in Latin America', Journal of Applied Economics, VIII, 2, 203-25.
    • (2005) Journal of Applied Economics , vol.8 , Issue.2 , pp. 203-225
    • Blomberg, S.B.1    Frieden, J.2    Stein, E.H.3
  • 11
    • 34247368608 scopus 로고    scopus 로고
    • 'The Interactions of Government Strength and Alternative Exchange Rate Regimes in Avoiding Currency Crises'
    • Presented at the (Princeton University, 17-18 November)
    • Chiu, E. and T. D. Willett (2006), 'The Interactions of Government Strength and Alternative Exchange Rate Regimes in Avoiding Currency Crises', Presented at the International Political Economy Society Conference (Princeton University, 17-18 November).
    • (2006) International Political Economy Society Conference
    • Chiu, E.1    Willett, T.D.2
  • 13
    • 84898282608 scopus 로고    scopus 로고
    • (Ann Arbor, MI: University of Michigan Press)
    • Clark, W. (2003), Capitalism Not Globalism (Ann Arbor, MI: University of Michigan Press).
    • (2003) Capitalism Not Globalism
    • Clark, W.1
  • 15
    • 0009376307 scopus 로고    scopus 로고
    • 'The Political Economy of Delayed Reform'
    • Drazen, A. (1996), 'The Political Economy of Delayed Reform', Journal of Policy Reform, 1, 1, 25-46.
    • (1996) Journal of Policy Reform , vol.1 , Issue.1 , pp. 25-46
    • Drazen, A.1
  • 17
    • 0000515718 scopus 로고
    • 'Resistance to Reform: Status Quo Bias in the Presence of Individual Specific Uncertainty'
    • Fernandez, R. and D. Rodrik (1991), 'Resistance to Reform: Status Quo Bias in the Presence of Individual Specific Uncertainty', American Economic Review, 81, 1146-55.
    • (1991) American Economic Review , vol.81 , pp. 1146-1155
    • Fernandez, R.1    Rodrik, D.2
  • 18
    • 0003520090 scopus 로고    scopus 로고
    • 'No Single Currency Regime is Right For All Countries or For All Times'
    • (August)
    • Frankel, J. (1999), 'No Single Currency Regime is Right For All Countries or For All Times', Princeton Essays in International Finance, No. 214 (August).
    • (1999) Princeton Essays in International Finance , Issue.214
    • Frankel, J.1
  • 19
    • 34247395135 scopus 로고    scopus 로고
    • 'Experience of and Lessons from Exchange Rate Regimes in Emerging Economies'
    • in ed. by Asian Development Bank (Palgrave Macmillan Press, New York)
    • Frankel, J. (2004), 'Experience of and Lessons from Exchange Rate Regimes in Emerging Economies', in Monetary and Financial Integration in East Asia: The Way Ahead, ed. by Asian Development Bank, Vol. 2, (Palgrave Macmillan Press, New York), 91-138.
    • (2004) Monetary and Financial Integration in East Asia: The Way Ahead , vol.2 , pp. 91-138
    • Frankel, J.1
  • 20
    • 0011462465 scopus 로고    scopus 로고
    • 'Verifiability and the Vanishing Intermediate Exchange Rate Regime'
    • in S. Collins and D. Rodrik (eds.) (Washington, DC: Brookings Institution Press)
    • Frankel, J., S. Schmukler and L. Servén (2000), 'Verifiability and the Vanishing Intermediate Exchange Rate Regime', in S. Collins and D. Rodrik (eds.), Brookings Trade Forum 2000 (Washington, DC: Brookings Institution Press).
    • (2000) Brookings Trade Forum 2000
    • Frankel, J.1    Schmukler, S.2    Servén, L.3
  • 21
    • 0003412309 scopus 로고    scopus 로고
    • Frieden, J. and E. Stein (eds.) (Washington, DC: Inter-American Development Bank)
    • Frieden, J. and E. Stein (eds.) (2001), The Currency Game: Exchange Rate Politics in Latin America (Washington, DC: Inter-American Development Bank).
    • (2001) The Currency Game: Exchange Rate Politics in Latin America
  • 22
    • 0002849453 scopus 로고
    • 'The Case for Flexible Exchange Rates'
    • in M. Friedman (Ed.) (Chicago: University of Chicago Press)
    • Friedman, M. (1953), 'The Case for Flexible Exchange Rates', in M. Friedman (Ed.), Essays in Positive Economics (Chicago: University of Chicago Press), 157-203.
    • (1953) Essays in Positive Economics , pp. 157-203
    • Friedman, M.1
  • 23
    • 0012217552 scopus 로고    scopus 로고
    • (Washington, DC: Institute for International Economics)
    • Goldstein, M. (2002), Managed Floating Plus (Washington, DC: Institute for International Economics).
    • (2002) Managed Floating Plus
    • Goldstein, M.1
  • 24
    • 0037542172 scopus 로고    scopus 로고
    • 'Exchange Rate-based Stabilization: A Critical Look at the Stylized Facts'
    • Hamann, A. J. (2001), 'Exchange Rate-based Stabilization: A Critical Look at the Stylized Facts', IMF Staff Papers, 48, 1, 111-38.
    • (2001) IMF Staff Papers , vol.48 , Issue.1 , pp. 111-138
    • Hamann, A.J.1
  • 25
    • 84984490853 scopus 로고
    • 'Distributional Conflict, Financial Adaptation and Delayed Stabilization'
    • Laban, R. and F. Sturzenegger (1994), 'Distributional Conflict, Financial Adaptation and Delayed Stabilization', Economics and Politics, 6, 3, 257-76.
    • (1994) Economics and Politics , vol.6 , Issue.3 , pp. 257-276
    • Laban, R.1    Sturzenegger, F.2
  • 26
    • 0033393856 scopus 로고    scopus 로고
    • 'Democratic Political Institutions and Exchange Rate Commitments in the Developing World'
    • Leblang, D. (1999), 'Democratic Political Institutions and Exchange Rate Commitments in the Developing World', International Studies Quarterly, 43, 4, 599-620.
    • (1999) International Studies Quarterly , vol.43 , Issue.4 , pp. 599-620
    • Leblang, D.1
  • 27
    • 0348162307 scopus 로고    scopus 로고
    • 'To Devalue or to Defend: The Political Economy of Exchange Rate Policy in the Developing World'
    • Leblang, D. (2003a), 'To Devalue or to Defend: The Political Economy of Exchange Rate Policy in the Developing World', International Studies Quarterly, 47, 4, 533-59.
    • (2003) International Studies Quarterly , vol.47 , Issue.4 , pp. 533-559
    • Leblang, D.1
  • 30
    • 0008387930 scopus 로고    scopus 로고
    • 'Institutions and Investors: The Politics of the Financial Crisis in Southeast Asia'
    • (Winter)
    • MacIntyre, A. (2001), 'Institutions and Investors: The Politics of the Financial Crisis in Southeast Asia', International Organization, 55, 1 (Winter), 81-122.
    • (2001) International Organization , vol.55 , Issue.1 , pp. 81-122
    • MacIntyre, A.1
  • 31
    • 34247400848 scopus 로고    scopus 로고
    • 'Exchange Rates Based Stabilization Policy in Latin America'
    • in R. Sweeney, C. Wihlborg and T. D. Willett (eds.) (Boulder, CO: Westview Press)
    • Martin, P., J. Westbrook and T. D. Willett (1999), 'Exchange Rates Based Stabilization Policy in Latin America', in R. Sweeney, C. Wihlborg and T. D. Willett (eds.), Exchange Rate Policies for Emerging Markets (Boulder, CO: Westview Press), 141-64.
    • (1999) Exchange Rate Policies for Emerging Markets , pp. 141-164
    • Martin, P.1    Westbrook, J.2    Willett, T.D.3
  • 32
    • 0003919604 scopus 로고
    • Masson, P. R. and M. P. Taylor (eds.) (Cambridge: Cambridge University Press)
    • Masson, P. R. and M. P. Taylor (eds.) (1993), Policy Issues in the Operation of Currency Unions (Cambridge: Cambridge University Press).
    • (1993) Policy Issues in the Operation of Currency Unions
  • 33
    • 0004120649 scopus 로고    scopus 로고
    • The Meltzer Report. The Official Title is: International Financial Institution Advisory Commission (Washington, DC: no publisher specified), referred to as 'the Meltzer Report'
    • Meltzer, A. H. (2000), The Meltzer Report. The Official Title is: International Financial Institution Advisory Commission, Report of the International Financial Institution Advisory Commission (Washington, DC: no publisher specified), referred to as 'the Meltzer Report'.
    • (2000) Report of the International Financial Institution Advisory Commission
    • Meltzer, A.H.1
  • 39
    • 0024484766 scopus 로고
    • 'Government Spending and Budget Deficits in the Industrialized Countries'
    • Roubini, D. and J. Sachs (1989a), 'Government Spending and Budget Deficits in the Industrialized Countries', Economic Policy, 4, 8, 99-132.
    • (1989) Economic Policy , vol.4 , Issue.8 , pp. 99-132
    • Roubini, D.1    Sachs, J.2
  • 40
    • 0010543423 scopus 로고
    • 'Political and Economic Determinants of Budget Deficits in the Industrial Countries'
    • Roubini, D. and J. Sachs (1989b), 'Political and Economic Determinants of Budget Deficits in the Industrial Countries', European Economic Review, 33, 5, 903-38.
    • (1989) European Economic Review , vol.33 , Issue.5 , pp. 903-938
    • Roubini, D.1    Sachs, J.2
  • 42
    • 3142769014 scopus 로고    scopus 로고
    • 'Adjustments in Different Government Systems'
    • Spolaore, E. (2004), 'Adjustments in Different Government Systems', Economics and Politics, 16, 2, 117-46.
    • (2004) Economics and Politics , vol.16 , Issue.2 , pp. 117-146
    • Spolaore, E.1
  • 44
    • 0000018005 scopus 로고
    • 'The New Theory of Optimum Currency Areas'
    • Tavlas, G. S. (1993), 'The New Theory of Optimum Currency Areas', The World Economy, 16, 6, 663-85.
    • (1993) The World Economy , vol.16 , Issue.6 , pp. 663-685
    • Tavlas, G.S.1
  • 45
    • 0033948850 scopus 로고    scopus 로고
    • 'On the Exchange Rate as a Nominal Anchor: The Rise and Fall of Credibility Hypothesis'
    • Tavlas, G. S. (2000), 'On the Exchange Rate as a Nominal Anchor: The Rise and Fall of Credibility Hypothesis', Economic Record, 76, 233, 183-201.
    • (2000) Economic Record , vol.76 , Issue.233 , pp. 183-201
    • Tavlas, G.S.1
  • 46
    • 7044277618 scopus 로고    scopus 로고
    • 'The Economics of Exchange-rate Regimes: A Review Essay'
    • Tavlas, G. S. (2003), 'The Economics of Exchange-rate Regimes: A Review Essay', The World Economy, 26, 8, 1215-46.
    • (2003) The World Economy , vol.26 , Issue.8 , pp. 1215-1246
    • Tavlas, G.S.1
  • 47
    • 34247359669 scopus 로고    scopus 로고
    • 'Global Capital Flows and National Policy Choices'
    • Paper presented at the (UC Santa Cruz, 14-15 October)
    • Wei, S.-J. and I. Tytell (2005), 'Global Capital Flows and National Policy Choices', Paper presented at the 8th Annual International Economics Conference (UC Santa Cruz, 14-15 October).
    • (2005) 8th Annual International Economics Conference
    • Wei, S.-J.1    Tytell, I.2
  • 49
    • 0032414643 scopus 로고    scopus 로고
    • 'Credibility and Discipline Effects of Exchange Rates as Nominal Anchors: The Need to Distinguish Temporary from Permanent Pegs'
    • Willett, T. D. (1998), 'Credibility and Discipline Effects of Exchange Rates as Nominal Anchors: The Need to Distinguish Temporary from Permanent Pegs', The World Economy, 21, 6, 303-26.
    • (1998) The World Economy , vol.21 , Issue.6 , pp. 303-326
    • Willett, T.D.1
  • 51
    • 34247370328 scopus 로고    scopus 로고
    • 'The Political Economy of External Discipline'
    • Paper prepared for the (San Francisco, 30 August to 2 September)
    • Willett, T. D. (2001), 'The Political Economy of External Discipline', Paper prepared for the 2001 Annual Meetings of the American Political Science Association (San Francisco, 30 August to 2 September).
    • (2001) 2001 Annual Meetings of the American Political Science Association
    • Willett, T.D.1
  • 52
    • 84920752530 scopus 로고    scopus 로고
    • 'The OCA Approach to Exchange Rate Regimes: A Perspective on Recent Development'
    • in D. Salvatore, J. Dean and T. Willett (eds.) (Oxford: Oxford University Press; forthcoming in European Journal of Political Economy)
    • Willett, T. D. (2003a), 'The OCA Approach to Exchange Rate Regimes: A Perspective on Recent Development', in D. Salvatore, J. Dean and T. Willett (eds.), The Dollarization Debate (Oxford: Oxford University Press; forthcoming in European Journal of Political Economy).
    • (2003) The Dollarization Debate
    • Willett, T.D.1
  • 53
    • 0037268771 scopus 로고    scopus 로고
    • 'Fear of Floating Needn't Imply Fixed Rates: An OCA Approach to the Operation of Stable Intermediate Currency Regimes'
    • Willett, T. D. (2003b), 'Fear of Floating Needn't Imply Fixed Rates: An OCA Approach to the Operation of Stable Intermediate Currency Regimes', Open Economies Review, 14, 1, 71-91.
    • (2003) Open Economies Review , vol.14 , Issue.1 , pp. 71-91
    • Willett, T.D.1
  • 54
    • 34247350915 scopus 로고    scopus 로고
    • 'Optimum Currency Area and Political Economy Approaches to Exchange Rate Regimes: Towards a Framework for Integration'
    • Willett, T. D. (2006), 'Optimum Currency Area and Political Economy Approaches to Exchange Rate Regimes: Towards a Framework for Integration', Current Politics and Economics in Europe, 17, 1, 25-52.
    • (2006) Current Politics and Economics in Europe , vol.17 , Issue.1 , pp. 25-52
    • Willett, T.D.1
  • 55
    • 34247333929 scopus 로고
    • 'The Effects of Alternative International Monetary Systems on Inflationary Biases and Macroeconomic Discipline'
    • in R. E. Lombra and W. E. Witte (eds.) (Ames, IA: Iowa State University Press)
    • Willett, T. D. and J. Mullen (1982), 'The Effects of Alternative International Monetary Systems on Inflationary Biases and Macroeconomic Discipline', in R. E. Lombra and W. E. Witte (eds.), Political Economy of International and Domestic Monetary Relations (Ames, IA: Iowa State University Press), 143-56.
    • (1982) Political Economy of International and Domestic Monetary Relations , pp. 143-156
    • Willett, T.D.1    Mullen, J.2
  • 57
    • 34247364191 scopus 로고    scopus 로고
    • 'The Political Economy of Endogenous OCA Analysis and the Early Euro Experience'
    • Presented at the (8 April, Kelly School of Business, Bloomington, Indiana, and the EUSA Workshop on Whither EU Integration and Cooperation, Wilfred Laurier University, 28 April)
    • Willett, T. D., O. Permpoon and C. Wihlborg (2006), 'The Political Economy of Endogenous OCA Analysis and the Early Euro Experience', Presented at the Conference on Perspectives on Monetary, Financial, and Economic Integration (8 April, Kelly School of Business, Bloomington, Indiana, and the EUSA Workshop on Whither EU Integration and Cooperation, Wilfred Laurier University, 28 April).
    • (2006) Conference on Perspectives on Monetary, Financial, and Economic Integration
    • Willett, T.D.1    Permpoon, O.2    Wihlborg, C.3


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.