Haku
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Fixed exchange rate regimes, real undervaluation and economic growth
(10.08.2015)
BOFIT Discussion Papers 23/2015
BOFIT Discussion Papers 23/2015
This paper empirically studies how a fixed exchange rate regime (FERR) may promote economic growth by undermining the Balassa-Samuelson effect. When total factor productivity (TFP) is faster in the industrial sector than ...