01 Jan 2002 - 01 Jun 2003
Europe, exchange rate policy, Macroeconomics and macroeconomic policy, Research, transition economies

The Choice of Exchange Rate Regime and the Real Sector. What Can We Learn from the Experience of Transition Economies?


The project won the Global Research Competition 2002 sponsored by Global Development Network. It was carried  by Przemek Kowalski, Wojciech Paczynski, and Lukasz Rawdanowicz. The project has investigated differences in the performance of tradable and non-tradable sectors under corner exchange rate regimes (i.e., fixed vs. floating). Empirical analysis was concentrated on seven Central and East European countries.

The results of the project were presented at a seminar at the University of Dortmund in June 2003 and during the Applied Econometrics Association conference in Toledo in November 2003.


The paper authored by Przemek Kowalski, Wojciech Paczynski and Lukasz Rawdanowicz was published in Post-Communist Economies in Vol. 15, No. 4, 2003, pp. 533-555. The working paper version of the article is available as CASE Network Studies and Analyses no. 248.