We find that productivity gains in tradables cause an appreciation of the real exchange rate via both tradable and …

1993 and 2001 have exerted on productivity growth. We give theoretical arguments explaining the impact of the real exchange … rate on productivity via its effects either on efficiency growth or on technical progress. Then for the twenty-nine Chinese … provinces we calculate the growth of the productivity and of its two components, using DEA Malmquist index. Finally we present a …

"capital accumulation channel" and the "total factor productivity (TFP) growth channel". This paper carries out the first … undervaluation of the currency boost the overall productivity level in the economy? If so, does this "undervaluation …-induced" productivity improvement significantly enhance growth? And finally, what is the magnitude of the TFP growth channel compared to the …