The Choice of Exchange Rate Regimes in the MENA Countries: a Probit Analysis

This paper analysis the choice of exchange regimes of 17 economies in the MENA region for the period 1990-2000. For this purpose we use both de jure and de facto regime classifications and estimate a series of binomial and multinomial probit models. Regressions results highlight the important influence of economic development and international reserve levels on exchange regime selection.http://deepblue.lib.umich.edu/bitstream/2027.42/64398/1/wp899.pd