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Should developing countries undervalue their currencies?

Date

Authors

Schroder, Marcel

Publisher

Elsevier

Abstract

The Washington Consensus emphasizes the economic costs of real exchange rate distortions. However, a sizable recent empirical literature finds that undervalued real exchange rates help countries to achieve faster economic growth. This paper shows that rec

Keywords

Keywords: currency; developing world; economic development; economic growth; purchasing power parity; real exchange rate Economic growth; Real exchange rate misalignment; Undervaluation

URI

http://hdl.handle.net/1885/74772

Collections

ANU Research Publications

Source

Journal of Development Economics

Type

Journal article

DOI

10.1016/j.jdeveco.2013.07.015

Restricted until

2037-12-31

Downloads

File

Description

01_Schroder_Should_developing_countries_2013.pdf (477.77 KB)

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