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When and Why Worry About Real Exchange Rate Appreciation? The Missing Link Between Dutch Disease and Growth

2010-12-01 Business & Economics
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Release : 2010-12-01
Genre : Business & Economics
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Book Rating : 781/5 ( reviews)

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Book Synopsis When and Why Worry About Real Exchange Rate Appreciation? The Missing Link Between Dutch Disease and Growth by : International Monetary Fund

Download or read book When and Why Worry About Real Exchange Rate Appreciation? The Missing Link Between Dutch Disease and Growth written by International Monetary Fund. This book was released on 2010-12-01. Available in PDF, EPUB and Kindle. Book excerpt: We review the literature on Dutch disease, and document that shocks that trigger foreign exchange inflows (such as natural resource booms, surges in foreign aid, remittances, or capital inflows) appreciate the real exchange rate, generate factor reallocation, and reduce manufacturing output and net exports. We also observe that real exchange rate misalignment due to overvaluation and higher volatility of the real exchange rate lower growth. Regarding the effect of undervaluation of the exchange rate on economic growth, the evidence is mixed and inconclusive. However, there is no evidence in the literature that Dutch disease reduces overall economic growth. Policy responses should aim at adequately managing the boom and the risks associated with it.

When and Why Worry About Real Exchange Rate Appreciation? The Missing Link Between Dutch Disease and Growth

2014
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Release : 2014
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Book Synopsis When and Why Worry About Real Exchange Rate Appreciation? The Missing Link Between Dutch Disease and Growth by : Nicolás E. Magud

Download or read book When and Why Worry About Real Exchange Rate Appreciation? The Missing Link Between Dutch Disease and Growth written by Nicolás E. Magud. This book was released on 2014. Available in PDF, EPUB and Kindle. Book excerpt: We review the literature on Dutch disease, and document that shocks that trigger foreign exchange inflows (such as natural resource booms, surges in foreign aid, remittances, or capital inflows) appreciate the real exchange rate, generate factor reallocation, and reduce manufacturing output and net exports. We also observe that real exchange rate misalignment due to overvaluation and higher volatility of the real exchange rate lower growth. Regarding the effect of undervaluation of the exchange rate on economic growth, the evidence is mixed and inconclusive. However, there is no evidence in the literature that Dutch disease reduces overall economic growth. Policy responses should aim at adequately managing the boom and the risks associated with it.

When and why Worry about Real Exchange Rate Application?

2010
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Release : 2010
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Book Synopsis When and why Worry about Real Exchange Rate Application? by : Nicolás Magud

Download or read book When and why Worry about Real Exchange Rate Application? written by Nicolás Magud. This book was released on 2010. Available in PDF, EPUB and Kindle. Book excerpt:

World Economic Outlook, October 2015

2015-10-06 Business & Economics
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Release : 2015-10-06
Genre : Business & Economics
Kind : eBook
Book Rating : 39X/5 ( reviews)

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Book Synopsis World Economic Outlook, October 2015 by : International Monetary Fund. Research Dept.

Download or read book World Economic Outlook, October 2015 written by International Monetary Fund. Research Dept.. This book was released on 2015-10-06. Available in PDF, EPUB and Kindle. Book excerpt: This issue discusses a number of factors affecting global growth, as well as growth prospects across the world’s main countries and regions. It assesses the ongoing recovery from the global financial crisis in advanced and emerging market economies and evaluates risks, both upside and downside, including those associated with commodity prices, currency fluctuations, and financial market volatility. A special feature examines in detail causes and implications of the recent commodity price downturn; analytical chapters look at the effects of commodity windfalls on potential output and of exchange rate movements on trade.

Diagnosing Dutch Disease

2007-04 Business & Economics
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Release : 2007-04
Genre : Business & Economics
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Book Synopsis Diagnosing Dutch Disease by : Nienke Oomes

Download or read book Diagnosing Dutch Disease written by Nienke Oomes. This book was released on 2007-04. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we assess whether recent economic developments in Russia are symptomatic of Dutch Disease. We first provide a brief review of the literature on Dutch Disease and the natural resource curse. We then discuss the symptoms of Dutch Disease, which include (1) real exchange rate appreciation; (2) slower manufacturing growth; (3) faster service sector growth; and (4) higher overall wages. We test these predictions for Russia while carefully controlling for other factors that could have led to similar symptoms. We conclude that, while Russia has all of the symptoms, the diagnosis of Dutch Disease remains to be confirmed.

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