Publication:
Export Surges : The Power of a Competitive Currency

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dc.contributor.authorFreund, Caroline
dc.contributor.authorPierola, Martha Denisse
dc.date.accessioned2012-06-01T21:29:48Z
dc.date.available2012-06-01T21:29:48Z
dc.date.issued2008-10
dc.description.abstractHow can countries stimulate and sustain strong export growth? To answer this question, the authors examine 92 episodes of export surges, defined as significant increases in manufacturing export growth that are sustained for at least seven years. They find that export surges in developing countries tend to be preceded by a large real depreciation-which leaves the exchange rate significantly undervalued-and a reduction in exchange rate volatility. In contrast, in developed countries, the role of the exchange rate is less pronounced. The authors examine why the exchange rate is so important in developing countries and find that the depreciation leads to a significant reallocation of resources in the export sector. In particular, depreciation generates more entries into new export products and new markets, and the percentage of new entries that fail after one year declines. These new products and new markets are important, accounting for 25 percent of export growth during the surge in developing countries. The authors argue that maintaining a competitive currency leads firms to expand the product and market space for exports, inducing a large reorientation of the tradable sector.en
dc.identifierhttp://documents.worldbank.org/curated/en/2008/10/9933586/export-surges-oower-competitive-currency-export-surges-power-competitive-currency
dc.identifier.doi10.1596/1813-9450-4750
dc.identifier.urihttps://hdl.handle.net/10986/6937
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper; No. 4750
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTING
dc.subjectAPARTHEID
dc.subjectASSETS
dc.subjectAVERAGE GROWTH
dc.subjectBALANCE OF PAYMENTS
dc.subjectBALANCE OF PAYMENTS CRISES
dc.subjectBANK POLICY
dc.subjectBASE YEAR
dc.subjectBILATERAL TRADE
dc.subjectBILATERAL TRADE DATA
dc.subjectBLACK MARKET
dc.subjectBLACK MARKET EXCHANGE RATE
dc.subjectCENTRAL BANK
dc.subjectCOMMODITY
dc.subjectCOMMODITY PRICE
dc.subjectCOMMODITY PRICE BOOMS
dc.subjectCOMMON CURRENCY
dc.subjectCOMPARATIVE ADVANTAGE
dc.subjectCOMPETITIVENESS
dc.subjectCONSTANT DOLLARS
dc.subjectCONSUMER PRICE INDEX
dc.subjectCONSUMERS
dc.subjectCONSUMPTION EXPENDITURE
dc.subjectCOUNTRY FIXED EFFECTS
dc.subjectCOUNTRY LEVEL
dc.subjectCOUNTRY SIZE
dc.subjectCROSS-COUNTRY STUDY
dc.subjectCURRENCY
dc.subjectCURRENCY DEPRECIATION
dc.subjectCURRENCY UNIONS
dc.subjectCURRENT ACCOUNT
dc.subjectCURRENT ACCOUNT BALANCE
dc.subjectCURRENT ACCOUNT POSITION
dc.subjectDEBT
dc.subjectDEBT CRISIS
dc.subjectDEBT CRISIS COUNTRIES
dc.subjectDEPENDENT VARIABLE
dc.subjectDEPENDENT VARIABLES
dc.subjectDEPRECIATIONS
dc.subjectDEVALUATION
dc.subjectDEVALUATIONS
dc.subjectDEVELOPED COUNTRIES
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPING COUNTRY
dc.subjectDEVELOPMENT RESEARCH
dc.subjectDEVELOPMENT STRATEGY
dc.subjectDIMINISHING RETURNS
dc.subjectDISCRETE JUMP
dc.subjectDISTORTION
dc.subjectDOMESTIC CURRENCY
dc.subjectDOMESTIC DEMAND
dc.subjectDOMESTIC ECONOMY
dc.subjectDOMESTIC GOODS
dc.subjectDOMESTIC SAVING
dc.subjectDOMESTIC SAVINGS
dc.subjectDUMMY VARIABLE
dc.subjectECONOMIC ACTIVITY
dc.subjectECONOMIC BOOM
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC PERFORMANCE
dc.subjectECONOMIC REFORM
dc.subjectECONOMIC STUDIES
dc.subjectEFFECT OF EXCHANGE RATE CHANGES
dc.subjectEQUILIBRIUM
dc.subjectEQUILIBRIUM LEVEL
dc.subjectEQUIPMENT
dc.subjectEXCHANGE DEPRECIATION
dc.subjectEXCHANGE RATE
dc.subjectEXCHANGE RATE FLUCTUATIONS
dc.subjectEXCHANGE RATE MANAGEMENT
dc.subjectEXCHANGE RATE MISALIGNMENT
dc.subjectEXCHANGE RATE MOVEMENT
dc.subjectEXCHANGE RATE MOVEMENTS
dc.subjectEXCHANGE RATE POLICY
dc.subjectEXCHANGE RATE SHOCKS
dc.subjectEXCHANGE RATE VOLATILITY
dc.subjectEXCHANGE RATES
dc.subjectEXCHANGE-RATE
dc.subjectEXIT STRATEGIES
dc.subjectEXPENDITURE INCREASES
dc.subjectEXPORT DIVERSIFICATION
dc.subjectEXPORT GROWTH
dc.subjectEXPORT GROWTH RATES
dc.subjectEXPORT INCENTIVES
dc.subjectEXPORT MARKETS
dc.subjectEXPORT PROMOTION
dc.subjectEXPORT SECTOR
dc.subjectEXPORT SECTORS
dc.subjectEXPORT SHARE
dc.subjectEXPORT SUBSIDY
dc.subjectEXPORT VOLUMES
dc.subjectEXPORTER
dc.subjectEXPORTERS
dc.subjectEXTERNAL DEMAND
dc.subjectEXTERNAL INVESTORS
dc.subjectEXTERNALITY
dc.subjectFEDERAL RESERVE
dc.subjectFEDERAL RESERVE SYSTEM
dc.subjectFINANCIAL INTERMEDIATION
dc.subjectFIXED EFFECT
dc.subjectFIXED EFFECTS
dc.subjectFIXED EXCHANGE RATE
dc.subjectFLEXIBLE RATE
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFOREIGN INCOME
dc.subjectFOREIGN INVESTMENT
dc.subjectFOREIGN MARKETS
dc.subjectFRANC ZONE
dc.subjectFUTURE RESEARCH
dc.subjectGDP
dc.subjectGLOBAL INTEGRATION
dc.subjectGOLD
dc.subjectGROWTH RATE
dc.subjectGROWTH RATES
dc.subjectGROWTH SPECIFICATION
dc.subjectHIGH GROWTH
dc.subjectIMPORT
dc.subjectIMPORT BARRIERS
dc.subjectIMPORT DEMAND
dc.subjectIMPORT GROWTH
dc.subjectIMPORT PRICES
dc.subjectIMPORT TARIFF
dc.subjectIMPORTS
dc.subjectINCOME GROWTH
dc.subjectINCREASING RETURNS
dc.subjectINDEPENDENT VARIABLE
dc.subjectINDUSTRIAL COUNTRIES
dc.subjectINDUSTRIALIZATION
dc.subjectINFLATION
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL ECONOMICS
dc.subjectINTERNATIONAL FINANCE
dc.subjectINTERNATIONAL MONETARY SYSTEM
dc.subjectINTERNATIONAL MONEY
dc.subjectINTERNATIONAL TRADE
dc.subjectINVESTMENT RATE
dc.subjectLABOR FORCE
dc.subjectMACROECONOMICS
dc.subjectMANUFACTURING INDUSTRIES
dc.subjectMARKET FAILURE
dc.subjectMARKET SHARE
dc.subjectMONOPOLY
dc.subjectNEW MARKET
dc.subjectNEW MARKETS
dc.subjectNEW PRODUCTS
dc.subjectOPEN COUNTRIES
dc.subjectOPEN ECONOMIES
dc.subjectOPEN ECONOMY
dc.subjectOVERVALUATION
dc.subjectPERC
dc.subjectPOLICY RESEARCH
dc.subjectPOLICY STANCE
dc.subjectPOLITICAL ECONOMY
dc.subjectPOSTWAR PERIOD
dc.subjectPOVERTY REDUCTION
dc.subjectPRICE INDEX
dc.subjectPRIVATE INVESTMENT
dc.subjectPRODUCTION STRUCTURE
dc.subjectRAPID GROWTH
dc.subjectRATE MOVEMENTS
dc.subjectREAL CONSUMPTION
dc.subjectREAL DEPRECIATION
dc.subjectREAL DEVALUATIONS
dc.subjectREAL EFFECTIVE EXCHANGE RATE
dc.subjectREAL EXCHANGE RATE
dc.subjectREAL EXCHANGE RATE MISALIGNMENT
dc.subjectREAL EXCHANGE RATES
dc.subjectREAL EXPORTS
dc.subjectREAL GDP
dc.subjectREGIME CHANGES
dc.subjectREGIONAL INTEGRATION
dc.subjectREGRESSION ANALYSIS
dc.subjectRELATIVE PRICES
dc.subjectRETURNS
dc.subjectSAVINGS RATE
dc.subjectSIGNIFICANT EFFECT
dc.subjectSMALL COUNTRIES
dc.subjectSMALL ECONOMIES
dc.subjectSTANDARD DEVIATION
dc.subjectSUNK COSTS
dc.subjectTARIFF BARRIER
dc.subjectTARIFF BARRIERS
dc.subjectTAX
dc.subjectTAX INCENTIVES
dc.subjectTECHNICAL ASSISTANCE
dc.subjectTIME HORIZON
dc.subjectTOTAL EXPORTS
dc.subjectTOTAL IMPORTS
dc.subjectTRADE BARRIERS
dc.subjectTRADE DATA
dc.subjectTRADE EQUATIONS
dc.subjectTRADE LIBERALIZATION
dc.subjectTRADE LIBERALIZATIONS
dc.subjectTRADE PATTERNS
dc.subjectTRADE POLICIES
dc.subjectTRADE POLICY
dc.subjectTRADING
dc.subjectUNDERVALUATION
dc.subjectUNDERVALUED EXCHANGE RATE
dc.subjectUNEMPLOYMENT
dc.subjectVALUE ADDED
dc.subjectWAGES
dc.subjectWEALTH
dc.subjectWEIGHTS
dc.subjectWORLD TRADE
dc.subjectWORLD TRADE ORGANIZATION
dc.subjectWTO
dc.titleExport Surges : The Power of a Competitive Currencyen
dspace.entity.typePublication
okr.crossref.titleExport Surges: The Power Of A Competitive Currency
okr.date.doiregistration2025-04-10T12:23:53.175473Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2008/10/9933586/export-surges-oower-competitive-currency-export-surges-power-competitive-currency
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticePoverty
okr.globalpracticeFinance and Markets
okr.globalpracticeTrade and Competitiveness
okr.guid778431468320378307
okr.identifier.doi10.1596/1813-9450-4750
okr.identifier.externaldocumentum000158349_20081014111013
okr.identifier.internaldocumentum9933586
okr.identifier.reportWPS4750
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2008/10/14/000158349_20081014111013/Rendered/PDF/WPS4750.pdfen
okr.topicFinance and Financial Sector Development::Currencies and Exchange Rates
okr.topicPoverty Reduction::Achieving Shared Growth
okr.topicEconomic Theory and Research
okr.topicPrivate Sector Development::Emerging Markets
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicMacroeconomics and Economic Growth
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isAuthorOfPublication65ba4a02-ba22-5c96-8e04-6b9356d619e0
relation.isAuthorOfPublication6d498a82-d484-5ad9-8d95-6771dd7faf56
relation.isAuthorOfPublication.latestForDiscovery6d498a82-d484-5ad9-8d95-6771dd7faf56
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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