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Global trends in the choice of exchange rate regime

Bleaney, Michael; Tian, Mo; Yin, Lin


Michael Bleaney

Assistant Professor

Lin Yin


The raw data suggest that the global trend towards greater exchange rate flexibility that was evident before 1990 has since stopped. An optimum currency area (OCA) model of exchange rate regime choice is estimated. Four different schemes for classifying exchange rate regime are investigated. Trends in the explanatory variables made little difference to the trend towards greater flexibility before 1990 but have worked against it since, largely because of the reduction in inflation. Underlying preferences are still shifting gradually in the direction of greater flexibility.


Bleaney, M., Tian, M., & Yin, L. (2016). Global trends in the choice of exchange rate regime. Open Economies Review, 27(1), 71-85.

Journal Article Type Article
Acceptance Date Jul 27, 2015
Online Publication Date Aug 6, 2015
Publication Date Feb 1, 2016
Deposit Date Jun 20, 2018
Publicly Available Date Jun 20, 2018
Journal Open Economies Review
Print ISSN 0923-7992
Electronic ISSN 1573-708X
Publisher Springer Verlag
Peer Reviewed Peer Reviewed
Volume 27
Issue 1
Pages 71-85
Keywords Exchange rate regimes; Inflation; Openness
Public URL
Publisher URL
Additional Information This is a post-peer-review, pre-copyedit version of an article published in Open Economies Review. The final authenticated version is available online at:


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