This paper investigates the role of “absorptive capacity” to manage unexpected shocks to their real economy, with a focus on small, open, natural resource-dependent economies. A quarterly panel data series for 45 countries is constructed, including 23 developing Asian countries for empirical...

This study investigates “impact of exchange rate on economic growth in the presence of structural shocks and political regime changing” by using time series data from 1960 to 2011 in the context of Pakistan. Importance of economic growth-exchange rate nexus elaborated either structural...

The exchange rate is a key macroeconomic factor that affects international trade and the real economy of each country. The development of international trade creates conditions where volatility comes with the exchange rate. The purpose of this paper is to examine the effect of real effective...