Trade and investment are considered as the crucial determining factors of economic growth, especially in developing countries. Foreign Direct Investment (FDI) has recently become more crucial especially in developing countries which strive for the modernization of their industries and support...

Economists have long debated whether the real exchange rate (RER) has a significant impact on export performance and output growth. Some claim that export performance depends only on nonprice competition and the RER is irrelevant to long-run growth, whereas others argue that the RER is a key...