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This paper aims to discuss the theory of productivity growth and its empirical applications, several authors emphasize … the impact of real exchange rate devaluation on productivity. The main research question is: does the real exchange rate … have a positive or negative impact on productivity growth? The first step in answering this question is to discuss …
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-constraints and the profitability of engaging in innovation (R&D). We decompose the effects of RER changes on productivity growth …
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