The real exchange rate matters, but why? A new developmentalist assessment
HUGO C. IASCO-PEREIRA,
FABRÍCIO J. MISSIO
Abstract:New Developmentalism doctrine defends the central role played by a competitive real exchange rate in promoting catch-up in developing economies. Recently, this theory has been questioned by critics; the main criticism has been that an outward growth strategy based on a competitive real exchange rate would harm income/real wage distribution and have a negative effect on the economy. This study discusses how the real exchange rate influences growth in light of the new developmentalist doctrine and the contrastin… Show more
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