Exchange Rate Volatility and Employment Growth in Developing Countries: Evidence from Turkey
Summary Employing a unique panel of 691 private firms that accounted for 26% of total value added in manufacturing in Turkey, the paper explores the impacts of exchange rate volatility on employment growth during the period of 1983-2005. The empirical analysis using a variety of specifications, estimation techniques, and robustness tests suggests that exchange rate volatility has a statistically and economically significant employment growth reducing effect on manufacturing firms. Using point estimates, the results suggest that for an average firm a one standard deviation increase in real exchange rate volatility reduces employment growth in the range of 1.4-2.1 percentage points.
Year of publication: |
2010
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Authors: | Demir, Firat |
Published in: |
World Development. - Elsevier, ISSN 0305-750X. - Vol. 38.2010, 8, p. 1127-1140
|
Publisher: |
Elsevier |
Keywords: | exchange rate volatility employment growth manufacturing firms South Eastern Europe Turkey |
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