The Real Exchange Rate and Economic Growth

Eichengreen, Barry

World Bank, Washington, DC

关键词: ABSOLUTE VALUE;    ACCOUNTING;    ADVANCED COUNTRIES;    ADVANCED ECONOMIES;    ASSETS;   

RP-ID  :  57704

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

The real exchange rate was not at thecenter of the first generation of neoclassical growthmodels, nor was it prominent among the policy prescriptionsthat flowed from those models. Recent analyses, in contrast,have paid it more attention. This paper analyzes the role ofthe real exchange rate in the growth process, the channelsthrough which the real exchange rate influences othervariables, and policies useful (and not useful) forgoverning the real rate. An appendix provides econometricevidence supportive of the emphases in the text.