1. Students

2. Does the exchange rate regime impact the number of students who choose to go abroad for university? Question

3. ● International students and a developing economy ● The role of exchange rate regimes in a developing economy Why these variables?

4. ● Floating exchange rate regimes will have more students studying abroad than fixed. ● Fixed exchange rate regimes will have less fluctuations in the amount of students studying abroad. Hypothesis

5. ● David Singer ● Sebastian Edwards ● Michel Beine, Frederic Docquier, and Hillel Rapoport Literature

6. ● Fixed (including traditional peg and currency board ● Crawling peg or band ● Managed Floating ● Free floating (based on Reinhart and Rogoff’s classification) Types of Exchange Rate Regimes

7. ● Number of Outbound Tertiary Students (UNESCO 2014) ● Exchange Rate Regime and other data (Rogoff & Reinhart 2010) ● Mean X: most regimes are a crawling peg or band ● Mean Y: average students studying abroad Methodology

8. ● Years: 1999-20007 ● Number of Countries: 177 ● Number of Country-Year Observations: 1,593 Methodology Cont.

9. ● Why do students study abroad? o improve job prospects o gain world perspective ● Is studying abroad beneficial for a developing country? Implications