How 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...
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INFORMACIÓN
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2008/10/01
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Documento de trabajo sobre investigaciones relativas a políticas
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WPS4750
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1
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1
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2010/07/01
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Disclosed
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Export surges : the power of a competitive currency
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board of governors of the federal reserve system