The Exchange Rate Regime And Economic Performances In Emerging Market Countries (Regions)

The choice of exchange rate regime has been a subject of onging debate in international economics. No single currency regime is right for all countries or at all time .The choice of exchange rate regime is a dynamic course .Now with the push of RMB's free exchange and capital market open-up ,the exchange rate regime of our country is faced with challenge and choice for another time . Now with the integration of international financial market , which exchange rate regime can not only help economic development of a country ,but also avoid financial crisis .Our country is an emerging market country , so this paper makes a comparison with different exchange rate regime and economic performances in emerging market countries since 1990s, so as to find some helpful advices for the choice of exchange rate regime in China.This paper can be divided into five parts. The fist part reviews the revolution of exchange rate regime in emerging market countries (regions) since 1990s and explains the causes .The second part reviews the new theories of exchange rate regime .The third part introduces exchange rate regime and inflation and economic growth . We use 25 emerging market countries (regions) since 1990 as sample and set up a model to study their exchange rate regime and economic performances . The experience result shows it indeed has a relationship with exchange rate regime and economic performance . The forth part introduces exchange rate regime and financial crisis and we should think about factors when emerging market countries (regions) choose their exchange rate regime .The fifth part is about RMB exchange rate regime .In this part we study the RMB exchange rate regime and economic performances and the exchange rate regime reform in China.