Exchange rate regime verification: An alternative method of testing for regime changes

This work proposes a change in persistence test for identifying de facto exchange rate regime changes. The results from 25 African countries show that this approach is able to identify some regime changes not captured by existing methods. ► Postulates a persistence test for identifying exchange rate regime changes. ► Shows that the test can identify regime changes not identified by standard methods. ► Uses data on a set of 25 African countries.