Employing propensity score reweighting and event-based strategies, we provide evidence that sustained real exchange rate (RER) misalignments have significant effects on economic development: positive on GDP per capita and capital stock in the case of undervaluation, and negative on the capital...

The present empirical study investigates the dynamic link between the agricultural and industrial output of Pakistan economy using the Autoregressive Distributed Lag (ARDL) bounds testing approach. Empirical results suggest that agricultural output effect on the industrial output in the long run...

Diversification and structural transformation play important roles in influencing the macroeconomic performance of low-income countries (LICs). Increases in income per capita at early stages of development are typically accompanied by a transformation in a country's production and export...