Working Paper

The Real Exchange Rate and Economic Growth

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collection.link.122
https://openknowledge.worldbank.org/handle/10986/4397
collection.name.122
Commission on Growth and Development
dc.contributor.author
Eichengreen, Barry
dc.date.accessioned
2017-08-28T17:13:40Z
dc.date.available
2017-08-28T17:13:40Z
dc.date.issued
2008
dc.date.lastModified
2017-12-13T14:02:35Z
dc.description.abstract
The real exchange rate was not at the center of the first generation of neoclassical growth models, nor was it prominent among the policy prescriptions that flowed from those models. Recent analyses, in contrast, have paid it more attention. This paper analyzes the role of the real exchange rate in the growth process, the channels through which the real exchange rate influences other variables, and policies useful (and not useful) for governing the real rate. An appendix provides econometric evidence supportive of the emphases in the text.
en
dc.identifier
http://documents.worldbank.org/curated/en/868701468152077108/The-real-exchange-rate-and-economic-growth
dc.identifier.uri
http://hdl.handle.net/10986/28013
dc.language
English
dc.language.iso
en_US
dc.publisher
World Bank, Washington, DC
dc.relation.ispartofseries
Commission on Growth and Development Working Paper;No. 4
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo
dc.subject
ABSOLUTE VALUE
dc.subject
ACCOUNTING
dc.subject
ADVANCED COUNTRIES
dc.subject
ADVANCED ECONOMIES
dc.subject
ASSETS
dc.subject
BALANCE SHEET
dc.subject
BALANCE SHEET MISMATCHES
dc.subject
BANK LENDING
dc.subject
BANKRUPTCY
dc.subject
BENEFICIARIES
dc.subject
BUDGET DEFICITS
dc.subject
BUSINESS CYCLES
dc.subject
CAPITA INCOME
dc.subject
CAPITAL CONTROLS
dc.subject
CAPITAL FLIGHT
dc.subject
CAPITAL FLOWS
dc.subject
CAPITAL INFLOWS
dc.subject
CAPITAL MARKETS
dc.subject
CENTRAL BANK
dc.subject
CENTRAL BANKS
dc.subject
COMPETITIVE EXCHANGE RATE
dc.subject
COMPETITIVE REAL EXCHANGE RATE
dc.subject
COMPETITIVE REAL EXCHANGE RATES
dc.subject
COMPETITIVENESS
dc.subject
CONSOLIDATION
dc.subject
CORPORATE SAVINGS
dc.subject
CREDIT CEILINGS
dc.subject
CROSS-COUNTRY EVIDENCE
dc.subject
CURRENCY
dc.subject
CURRENCY APPRECIATION
dc.subject
CURRENCY CRISES
dc.subject
CURRENT ACCOUNT
dc.subject
CURRENT ACCOUNT BALANCES
dc.subject
CURRENT ACCOUNT SURPLUS
dc.subject
DEVALUATION
dc.subject
DEVELOPING COUNTRIES
dc.subject
DEVELOPING COUNTRY
dc.subject
DEVELOPING ECONOMIES
dc.subject
DEVELOPMENT BANK
dc.subject
DEVELOPMENT ECONOMICS
dc.subject
DISTORTIONS
dc.subject
DOMESTIC DEMAND
dc.subject
DOMESTIC PRICE
dc.subject
DOMESTIC PRICE LEVEL
dc.subject
DUMMY VARIABLE
dc.subject
ECONOMETRIC EVIDENCE
dc.subject
ECONOMIC ACTIVITY
dc.subject
ECONOMIC CONDITIONS
dc.subject
ECONOMIC DEVELOPMENT
dc.subject
ECONOMIC GROWTH
dc.subject
ECONOMIC POLICY
dc.subject
ECONOMIC RESEARCH
dc.subject
EFFECTIVE EXCHANGE RATE
dc.subject
EMERGING COUNTRIES
dc.subject
EMERGING MARKET
dc.subject
EMERGING MARKET COUNTRIES
dc.subject
EMERGING MARKETS
dc.subject
EMPIRICAL STUDIES
dc.subject
ENTRY BARRIERS
dc.subject
EXCHANGE RATE CLASSIFICATION
dc.subject
EXCHANGE RATE DEPRECIATION
dc.subject
EXCHANGE RATE DETERMINATION
dc.subject
EXCHANGE RATE FLEXIBILITY
dc.subject
EXCHANGE RATE MOVEMENTS
dc.subject
EXCHANGE RATE POLICY
dc.subject
EXCHANGE RATE REGIME
dc.subject
EXCHANGE RATE REGIMES
dc.subject
EXCHANGE RATE STABILITY
dc.subject
EXCHANGE RATE SYSTEM
dc.subject
EXCHANGE RATE VARIABILITY
dc.subject
EXCHANGE RATE VOLATILITIES
dc.subject
EXIT STRATEGIES
dc.subject
EXIT STRATEGY
dc.subject
EXPENDITURE
dc.subject
EXPORT GROWTH
dc.subject
EXPORT INCENTIVES
dc.subject
EXPORT MARKET
dc.subject
EXPORT PERFORMANCE
dc.subject
EXPORT SHARES
dc.subject
EXPORTERS
dc.subject
EXPOSURES
dc.subject
EXTERNAL DEBT
dc.subject
EXTERNAL DEFICIT
dc.subject
EXTERNAL DEMAND
dc.subject
FEDERAL RESERVE
dc.subject
FEDERAL RESERVE BANK
dc.subject
FINANCIAL CRISES
dc.subject
FINANCIAL DEVELOPMENT
dc.subject
FINANCIAL FRAGILITY
dc.subject
FINANCIAL MARKET
dc.subject
FINANCIAL MARKETS
dc.subject
FINANCIAL RISKS
dc.subject
FINANCIAL SECTOR
dc.subject
FINANCIAL STABILITY
dc.subject
FINANCIAL SYSTEMS
dc.subject
FISCAL POLICIES
dc.subject
FISCAL POLICY
dc.subject
FLEXIBLE EXCHANGE RATES
dc.subject
FOREIGN CAPITAL
dc.subject
FOREIGN DIRECT INVESTMENT
dc.subject
FOREIGN EXCHANGE
dc.subject
FOREIGN EXCHANGE MARKET
dc.subject
FOREIGN EXCHANGE MARKETS
dc.subject
FOREIGN EXCHANGE RESERVES
dc.subject
FOREIGN INVESTMENT
dc.subject
FOREIGN INVESTORS
dc.subject
FOREIGN MARKETS
dc.subject
FUNDAMENTAL DETERMINANTS
dc.subject
GLOBAL IMBALANCES
dc.subject
GLOBALIZATION
dc.subject
GOVERNMENT REVENUE
dc.subject
GROWTH RATES
dc.subject
HEDGING INSTRUMENTS
dc.subject
HUMAN CAPITAL
dc.subject
IMPORT
dc.subject
IMPORTS
dc.subject
INDUSTRIAL COUNTRIES
dc.subject
INFLATION
dc.subject
INSTITUTIONAL CAPACITY
dc.subject
INSTRUMENT
dc.subject
INSTRUMENTAL VARIABLES
dc.subject
INTEREST RATES
dc.subject
INTERNATIONAL BANK
dc.subject
INTERNATIONAL CAPITAL
dc.subject
INTERNATIONAL CAPITAL MARKETS
dc.subject
INTERNATIONAL DEVELOPMENT
dc.subject
INTERNATIONAL ECONOMICS
dc.subject
INVESTMENT RATE
dc.subject
INVESTMENT SPENDING
dc.subject
LABOR FORCE
dc.subject
LABOR MARKET
dc.subject
LAND REFORM
dc.subject
LEVELS OF INVESTMENT
dc.subject
LEVY
dc.subject
LIFE-CYCLE MODEL
dc.subject
LIVING STANDARDS
dc.subject
MACROECONOMIC PERFORMANCE
dc.subject
MACROECONOMIC POLICY
dc.subject
MACROECONOMIC STABILITY
dc.subject
MACROECONOMIC VOLATILITY
dc.subject
MARKET CONDITIONS
dc.subject
MARKET DEVELOPMENT
dc.subject
MARKET FORCES
dc.subject
MARKET PRESSURES
dc.subject
MISALIGNMENT
dc.subject
MONETARY POLICY
dc.subject
MULTIPLE EXCHANGE RATES
dc.subject
NATIONAL INCOME
dc.subject
NOMINAL DEPRECIATION
dc.subject
NOMINAL EXCHANGE RATE
dc.subject
OPEN ECONOMY
dc.subject
OPTIMAL ALLOCATION
dc.subject
OUTPUT GROWTH
dc.subject
PLANNED ECONOMIES
dc.subject
POLICY OPTIONS
dc.subject
POLICY RESEARCH
dc.subject
POLITICAL ECONOMY
dc.subject
POLITICAL STABILITY
dc.subject
PORTFOLIO
dc.subject
POVERTY REDUCTION
dc.subject
PRICE OF EXPORTS
dc.subject
PRIVATE INVESTMENT
dc.subject
PROPERTY RIGHTS
dc.subject
PUBLIC SPENDING
dc.subject
PURCHASING POWER
dc.subject
RAPID GROWTH
dc.subject
RATE OF GROWTH
dc.subject
REAL APPRECIATIONS
dc.subject
REAL DEPRECIATION
dc.subject
REAL DEPRECIATIONS
dc.subject
REAL EFFECTIVE EXCHANGE RATE
dc.subject
REAL EXCHANGE
dc.subject
REAL EXCHANGE RATE
dc.subject
REAL EXCHANGE RATE OVERVALUATION
dc.subject
REAL EXCHANGE RATE UNCERTAINTY
dc.subject
REAL EXCHANGE RATE VOLATILITY
dc.subject
REAL EXCHANGE RATES
dc.subject
REGULATORY REFORM
dc.subject
RELATIVE PRICE
dc.subject
RELATIVE PRICES
dc.subject
RESERVE
dc.subject
RESERVE ACCUMULATION
dc.subject
RETURN
dc.subject
RETURNS
dc.subject
RISK NEUTRAL
dc.subject
SAVINGS RATE
dc.subject
SAVINGS RATES
dc.subject
SCATTER PLOTS
dc.subject
SLOWDOWN
dc.subject
STANDARD DEVIATION
dc.subject
SUPPLY CONDITIONS
dc.subject
SUSTAINED GROWTH
dc.subject
TAX
dc.subject
TAX REFORMS
dc.subject
TRADE LIBERALIZATION
dc.subject
TRADE REGIME
dc.subject
TRADE REGIMES
dc.subject
TRANSITION ECONOMIES
dc.subject
UPWARD PRESSURE
dc.subject
WORLD ECONOMY
dc.subject
WORLD PRICE
dc.title
The Real Exchange Rate and Economic Growth
en
dc.type
Working Paper
en
okr.date.disclosure
2010-11-25
okr.doctype
Publications & Research :: Working Paper
okr.doctype
Publications & Research
okr.docurl
http://documents.worldbank.org/curated/en/868701468152077108/The-real-exchange-rate-and-economic-growth
okr.googlescholar.linkpresent
yes
okr.identifier.externaldocumentum
000333038_20101126053026
okr.identifier.internaldocumentum
13163382
okr.identifier.report
57704
okr.imported
true
okr.language.supported
en
okr.pdfurl
http://documents.worldbank.org/curated/en/868701468152077108/pdf/577040NWP0Box31UBLIC10gc1wp10041web.pdf
en
okr.topic
Finance and Financial Sector Development :: Currencies and Exchange Rates
okr.topic
Macroeconomics and Economic Growth :: Economic Theory & Research
okr.topic
Macroeconomics and Economic Growth :: Economic Stabilization
okr.topic
Macroeconomics and Economic Growth :: Macroeconomic Management
okr.topic
Macroeconomics and Economic Growth :: Economic Growth

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