Aizenman, Joshua; Chinn, Menzie David; Ito, Hiro - 2021
stability, all reflecting the introduction of the euro. In contrast, emerging market countries pursued exchange rate stability … as their key priority up to the late 1980s while non-emerging market developing countries has pursued it throughout the … period since 1970. As a stark difference from the latter group of countries, emerging market countries have converged towards …