The paper estimates i) the degree of currency undervaluation and its relationship with per capita income (convergence), as informed by the Harrod-Balassa-Samuelson (HBS) framework. ii) The role of the real effective exchange rate, both its level and its stability over time, for underpinning...

When the OECD Development Centre launched research in 2005 to document the economic, political and social impacts of China's and India's economic growth on sub-Saharan African (SSA) countries, the arrival (or resurgence) of new important players had triggered concerns among traditional donors....

<heading format="display" id="h1" implicit="yes" level="1">Abstract</heading> (1248) Andrea Goldstein, Nicolas Pinaud, Helmut Reisen and Dorothy McCormick Copyright 2009 The Authors. Journal compilation 2009 Blackwell Publishing Ltd.