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- W130415086 abstract "Are more democratic governments associated with a larger or smaller gap between their de jure and de facto exchange rate regimes? This paper argues that more democratic governments should be associated with a larger gap because they need to use exchange rate regime commitments and actual exchange rate stability as short-term political substitutes in order to response to divided societal pressure coming through both the voter/electoral channel and the special interest channel, unlike more autocratic governments that face only one-sided political pressure through the special interest channel. Using various country/year democracy indicators and two different de facto regime measures, the statistical results show that not only are more democratic governments associated with a larger absolute regime gap, they are also associated with a larger gap in both possible directions: more actual stability than expected when they have a more flexible de jure regime and less actual stability than expected when they have a more fixed de jure regime." @default.
- W130415086 created "2016-06-24" @default.
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- W130415086 date "2011-01-01" @default.
- W130415086 modified "2023-10-18" @default.
- W130415086 title "Democracy and International Exchange Rate Regime Commitments" @default.
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- W130415086 doi "https://doi.org/10.2139/ssrn.1917021" @default.
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