Spilimbergo, Antonio; Duttagupta, Rupa - International Monetary Fund (IMF) - 2000
rates limited access to domestic credit and hence limited the supply of exports; and that “competitive depreciation …” neutralized the effects on demand for exports. This paper considers the plausibility of these two mechanisms using a new monthly … database on exports of selected industries. We find evidence that “competitive depreciation” did play a fundamental role in the …