Regímenes de tipo de cambio y crecimiento económico en países en desarrollo

This paper analyzes the relationship between exchange rate regimes and economic growth by using a panel data of 147 developing countries over the years from 1970 to 2007. An “unambiguous” classification derived from the most popular exchange rate regime classifications (IMF, LYS, RR, KS and GGW) is used, in which the observations are divided in a dichotomous criterion between pegged and non-pegged. by applying a dynamic system-GMM panel estimation in a growth equation, no statistically significant evidence was found of a relationship between pegged exchange rate regimes and economic growth in developing countries.