Interpreting Real Exchange Rate Movements in Transition Countries.

Several transition countries have experienced strong real exchange rate appreciations. This paper tests the hypothesis that these appreciations reflect underlying productivity gains in the tradable sector. Using panel data over the period 1993-98, the results show clear evidence of productivity-driv...

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Sonraí bibleagrafaíochta
Údar corparáideach: International Monetary Fund
Formáid: IRIS
Teanga:English
Foilsithe / Cruthaithe: Washington, D.C. : International Monetary Fund, 2001.
Sraith:IMF Working Papers; Working Paper ; No. 2001/056
Rochtain ar líne:Full text available on IMF
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245 1 0 |a Interpreting Real Exchange Rate Movements in Transition Countries. 
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300 |a 1 online resource (35 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a Several transition countries have experienced strong real exchange rate appreciations. This paper tests the hypothesis that these appreciations reflect underlying productivity gains in the tradable sector. Using panel data over the period 1993-98, the results show clear evidence of productivity-driven exchange rate movements in the central and eastern European and Baltic countries. Transition countries, particularly the EU accession countries that have begun to catch up, can expect to experience further productivity-driven real exchange rate appreciations. Evidence from a large cross-section of non-transition countries indicates that catching up by one percent will be associated with a 0.4 percent real appreciation. 
538 |a Mode of access: Internet 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2001/056 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2001/056/001.2001.issue-056-en.xml  |z IMF e-Library