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The aim of this paper is to investigate the link between currency misalignments and economic growth. Relying on panel … misalignments have a differentiated impact on economic growth depending on their sign: whereas overvaluations negatively affect … economic growth, real exchange rate undervaluations significantly enhance it. This result indicates that undervaluations may …
Persistent link: https://www.econbiz.de/10008493437
Persistent link: https://www.econbiz.de/10009751136
Empirical studies outline developing countries' experience economic growth through an undervalued exchange rate and … that exchange rate overvaluations have negative long term effects on economic growth. This paper examined the impact of … exchange rate movements as well as exchange rate misalignments on economic growth for the Trinidad and Tobago economy over the …
Persistent link: https://www.econbiz.de/10012009873
Empirical studies outline developing countries’ experience economic growth through an undervalued exchange rate and … that exchange rate overvaluations have negative long term effects on economic growth. This paper examined the impact of … exchange rate movements as well as exchange rate misalignments on economic growth for the Trinidad and Tobago economy over the …
Persistent link: https://www.econbiz.de/10011956526
We evaluate the growth effects of real effective exchange rate misalignments for the G20 countries over the period 1980 … which misalignments are derived. Second, we estimate a dynamic panel growth model in which among the traditional … determinants of growth, our measure of misalignments is included. Our findings put forward some important differences between …
Persistent link: https://www.econbiz.de/10008594243
We evaluate the growth effects of real effective exchange rate misalignments for the G20 countries over the period 1980 … which misalignments are derived. Second, we estimate a dynamic panel growth model in which among the traditional … determinants of growth, our measure of misalignments is included. Our findings put forward some important differences between …
Persistent link: https://www.econbiz.de/10008852744
Exchange rate assessment is becoming increasingly relevant for economic surveillance in the European Union (EU). The persistence of different wage, price and productivity dynamics among the Economic and Monetary Union (EMU) countries or EU members with a fixed exchange regime with the euro,...
Persistent link: https://www.econbiz.de/10011261695
The euro zone crisis illustrates the deficiencies of adjustment mechanisms in a monetary union characterized by a large heterogeneity. Exchange rate adjustments being impossible, they are very few alternative mechanisms. At the level of the whole euro zone the euro is close to its equilibrium...
Persistent link: https://www.econbiz.de/10011146223
In this study, we examine both stochastic and deterministic convergence in the logarithm of the relative per capita income of eighteen EU countries. The panel stationary test developed by Carrion-i Silvestre et al. (2005) is employed over the period 1950-2010. The univariate results attained...
Persistent link: https://www.econbiz.de/10010938021
of the Asian financial crisis. Moreover, in order to confirm the coexistence of the different growth patterns within the …
Persistent link: https://www.econbiz.de/10005260211