Exchange rate regimes, structural change and capital mobility in a developing economy
This paper proposes to develop a balance-of-payments-constrained growth model to analyse the importance of the relationship between real exchange rate misalignment and the share of industry in output. Building on the work of Gabriel, Jayme and Oreiro (2016), the model is expanded to address: (i) the influence of price competitiveness on net exports; (ii) capital mobility; (iii) nominal exchange rate flexibility; (iv) the nominal wage as a fraction of the value of labour productivity; and (v) a quadratic relationship between the growth rate of the share of industry in output and exchange-rate misalignment. An important result is that both flexible and fixed exchange rate regimes are compatible with a balanced growth path.
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Format: | Texto biblioteca |
Language: | English |
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2021-12
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Subjects: | POLITICA MONETARIA, TIPOS DE CAMBIO, MOVIMIENTOS DE CAPITAL, SECTOR INDUSTRIAL, PRODUCTO INTERNO BRUTO, CRECIMIENTO ECONOMICO, PAISES EN DESARROLLO, MONETARY POLICY, FOREIGN EXCHANGE RATES, CAPITAL MOVEMENTS, INDUSTRIAL SECTOR, GROSS DOMESTIC PRODUCT, ECONOMIC GROWTH, DEVELOPING COUNTRIES, |
Online Access: | https://hdl.handle.net/11362/47819 |
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dig-cepal-11362-478192023-03-06T18:14:08Z Exchange rate regimes, structural change and capital mobility in a developing economy D'Amato, Stefan Wilson Carvalho, Luciano Dias de POLITICA MONETARIA TIPOS DE CAMBIO MOVIMIENTOS DE CAPITAL SECTOR INDUSTRIAL PRODUCTO INTERNO BRUTO CRECIMIENTO ECONOMICO PAISES EN DESARROLLO MONETARY POLICY FOREIGN EXCHANGE RATES CAPITAL MOVEMENTS INDUSTRIAL SECTOR GROSS DOMESTIC PRODUCT ECONOMIC GROWTH DEVELOPING COUNTRIES This paper proposes to develop a balance-of-payments-constrained growth model to analyse the importance of the relationship between real exchange rate misalignment and the share of industry in output. Building on the work of Gabriel, Jayme and Oreiro (2016), the model is expanded to address: (i) the influence of price competitiveness on net exports; (ii) capital mobility; (iii) nominal exchange rate flexibility; (iv) the nominal wage as a fraction of the value of labour productivity; and (v) a quadratic relationship between the growth rate of the share of industry in output and exchange-rate misalignment. An important result is that both flexible and fixed exchange rate regimes are compatible with a balanced growth path. 2022-03-28T13:57:25Z 2022-03-28T13:57:25Z 2021-12 Texto Sección o Parte de un Documento https://hdl.handle.net/11362/47819 LC/PUB.2022/3-P 5 en CEPAL Review CEPAL Review 135 .pdf application/pdf |
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Biblioteca Hernán Santa Cruz |
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POLITICA MONETARIA TIPOS DE CAMBIO MOVIMIENTOS DE CAPITAL SECTOR INDUSTRIAL PRODUCTO INTERNO BRUTO CRECIMIENTO ECONOMICO PAISES EN DESARROLLO MONETARY POLICY FOREIGN EXCHANGE RATES CAPITAL MOVEMENTS INDUSTRIAL SECTOR GROSS DOMESTIC PRODUCT ECONOMIC GROWTH DEVELOPING COUNTRIES POLITICA MONETARIA TIPOS DE CAMBIO MOVIMIENTOS DE CAPITAL SECTOR INDUSTRIAL PRODUCTO INTERNO BRUTO CRECIMIENTO ECONOMICO PAISES EN DESARROLLO MONETARY POLICY FOREIGN EXCHANGE RATES CAPITAL MOVEMENTS INDUSTRIAL SECTOR GROSS DOMESTIC PRODUCT ECONOMIC GROWTH DEVELOPING COUNTRIES |
spellingShingle |
POLITICA MONETARIA TIPOS DE CAMBIO MOVIMIENTOS DE CAPITAL SECTOR INDUSTRIAL PRODUCTO INTERNO BRUTO CRECIMIENTO ECONOMICO PAISES EN DESARROLLO MONETARY POLICY FOREIGN EXCHANGE RATES CAPITAL MOVEMENTS INDUSTRIAL SECTOR GROSS DOMESTIC PRODUCT ECONOMIC GROWTH DEVELOPING COUNTRIES POLITICA MONETARIA TIPOS DE CAMBIO MOVIMIENTOS DE CAPITAL SECTOR INDUSTRIAL PRODUCTO INTERNO BRUTO CRECIMIENTO ECONOMICO PAISES EN DESARROLLO MONETARY POLICY FOREIGN EXCHANGE RATES CAPITAL MOVEMENTS INDUSTRIAL SECTOR GROSS DOMESTIC PRODUCT ECONOMIC GROWTH DEVELOPING COUNTRIES D'Amato, Stefan Wilson Carvalho, Luciano Dias de Exchange rate regimes, structural change and capital mobility in a developing economy |
description |
This paper proposes to develop a balance-of-payments-constrained growth model to analyse the importance of the relationship between real exchange rate misalignment and the share of industry in output. Building on the work of Gabriel, Jayme and Oreiro (2016), the model is expanded to address: (i) the influence of price competitiveness on net exports; (ii) capital mobility; (iii) nominal exchange rate flexibility; (iv) the nominal wage as a fraction of the value of labour productivity; and (v) a quadratic relationship between the growth rate of the share of industry in output and exchange-rate misalignment. An important result is that both flexible and fixed
exchange rate regimes are compatible with a balanced growth path. |
format |
Texto |
topic_facet |
POLITICA MONETARIA TIPOS DE CAMBIO MOVIMIENTOS DE CAPITAL SECTOR INDUSTRIAL PRODUCTO INTERNO BRUTO CRECIMIENTO ECONOMICO PAISES EN DESARROLLO MONETARY POLICY FOREIGN EXCHANGE RATES CAPITAL MOVEMENTS INDUSTRIAL SECTOR GROSS DOMESTIC PRODUCT ECONOMIC GROWTH DEVELOPING COUNTRIES |
author |
D'Amato, Stefan Wilson Carvalho, Luciano Dias de |
author_facet |
D'Amato, Stefan Wilson Carvalho, Luciano Dias de |
author_sort |
D'Amato, Stefan Wilson |
title |
Exchange rate regimes, structural change and capital mobility in a developing economy |
title_short |
Exchange rate regimes, structural change and capital mobility in a developing economy |
title_full |
Exchange rate regimes, structural change and capital mobility in a developing economy |
title_fullStr |
Exchange rate regimes, structural change and capital mobility in a developing economy |
title_full_unstemmed |
Exchange rate regimes, structural change and capital mobility in a developing economy |
title_sort |
exchange rate regimes, structural change and capital mobility in a developing economy |
publishDate |
2021-12 |
url |
https://hdl.handle.net/11362/47819 |
work_keys_str_mv |
AT damatostefanwilson exchangerateregimesstructuralchangeandcapitalmobilityinadevelopingeconomy AT carvalholucianodiasde exchangerateregimesstructuralchangeandcapitalmobilityinadevelopingeconomy |
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1762930092403589120 |