Data on Bilateral Exchange Rate Regimes

This new dataset on bilateral exchange rate regimes accounts for the fact that a country’s announcement to peg its currency against another currency is uninformative about the de-jure exchange rate regime prevailing vis-à-vis a third country. The same applies to de-facto exchange rate regimes as compiled, e.g. by Ilzetzki et al. (2018).

Our dataset uses information about countries’ anchor currencies to transform the widely used data on unilateral exchange rate regimes into bilateral data at the country-pair level.

The most recent version of the data covers the years until 2016.

There are two files available for download:

  • Data on bilateral de-facto exchange rate regimes based on the classification of Ilzetzki et al. (2018) for the years 1973-2016 in CSV (86 MB) or Stata 14 format (168 MB)
  • Data on bilateral de-jure exchange rate regimes based on the IMF’s Annual Report on Exchange Arrangements and Exchange Restrictions (AREAR) for the years 2000-2016 in CSV (37 MB) or Stata 14 format (76 MB)

Please consult the Read Me file for a detailed description of the data.

When you use our data on bilateral exchange rate regimes, please acknowledge the following paper as the data source:

Philipp Harms & Jakub Knaze, 2018. "Bilateral De-Jure Exchange Rate Regimes and Foreign Direct Investment: A Gravity Analysis," Working Papers 1808, Gutenberg School of Management and Economics, Johannes Gutenberg-Universität Mainz.

 

Disclaimer: 

We are not responsible for the results of any estimation that uses the data. The data on bilateral de-jure exchange rate regimes is based on the information reported in the IMF's Annual Report on Exchange Arrangements and Exchange Restrictions (AREAER). The data on bilateral de-facto exchange rate regimes is based on information kindly provided by Ethan Ilzetzki and described in: Ethan Ilzetzki & Carmen M. Reinhart & Kenneth S. Rogoff, 2017. "Exchange Arrangements Entering the 21st Century: Which Anchor Will Hold?," NBER Working Papers 23134, National Bureau of Economic Research, Inc (See this link for an updated description of the Ilzetzki et al. dataset.)