Many studies have attempted to uncover empirical regularities in how countries choose their exchange rate regimes. We survey previous studies showing that, taken as a whole, the literature is inconclusive. Drawing on a large dataset with many potential explanatory variables and a variety of...

Financial globalization has increased dramatically over the past three decades, particularly for advanced economies, while emerging market and developing countries experienced more moderate increases. Divergences across countries stem from different capital control regimes, and factors such as...