have a larger impact on growth than appreciations associated with capital inflows. Furthermore, the appreciation per se … tends to have a negative impact on growth. We provide a simple theoretical model that delivers the contrasted growth-appreciation …While the impact of exchange rate changes on economic growth has long been an issue of key importance in international …

have a larger impact on growth than a ppreciations associated with capital inflows. Furthermore, the appreciation per se … tends to have a negative impact on growth. We provide a simple theoretical model that delivers the contrasted growth-appreciation …While the impact of exchange rate changes on economic growth has long been an issue of key importance in international …