Exchange rate moves have surprisingly small effects on prices. This apparent ‘disconnect’ is one of the central puzzles in international macroeconomics. It is also a continual headache for policymakers who rely on exchange rates to accommodate the adjustment of global (current account) imbalances.
Why do large movements in exchange rates have small effects on international prices?
Mary Amiti, Oleg Itskhoki, Jozef Konings, 19 February 2013
The real exchange rate and export growth: Are services different?
Barry Eichengreen, Poonam Gupta, 18 January 2013
The role of exports in economic growth and, in turn, of the real exchange rate in export promotion features prominently in literature on development and globalisation (Rodrik 2009, Haddad and Pancaro 2010). Much of this literature dates, however, from an era when ‘exports’ meant ‘exports of merchandise‘.
Can Spain learn from its ‘export starters’?
Aoife Hanley, Joaquín Monreal-Pérez, 5 November 2012
Spain’s problems of high unemployment and soaring sovereign debt are well known. What is less publicised is Spain’s poor export performance. The numbers tell the story; only 6% of Spain’s manufacturing exports are high-tech, compared with 15% in Germany and 25% in France1.
How exports matter: No one-size-fits-all
David B Audretsch, Mark Sanders, Lu Zhang, 2 September 2012
“Accelerating Bangladesh's overall exports will require not only consolidating existing strengths in basic garments but also diversifying gradually into higher-value garments and other exports.” (Financial Express Bangladesh, 6 August, 2012).
Do ‘animal spirits’ matter to firms’ internationalisation?
Yasuyuki Todo, 7 June 2012
The internationalisation of firms’ production activities is having a massive impact on the global economy – everything from facilitating the rapid industrialisation and income growth in China and other emerging economies to the hollowing out of G7 manufacturing sectors. This growth and de-industrialisation is, in turn, blamed for booming commodity prices and rising wage inequality.
Getting ready: Preparation for exporting
Leonardo Iacovone, Beata Javorcik, 5 April 2012
Understanding how domestic companies could be supported in their efforts to break into export markets and diversify their range of export products is an important concern for policymakers. Indeed, export diversification is viewed as a way of stimulating growth by policymakers and academics alike (Rivera-Batiz and Romer 1991, Grossman and Helpman 1991, Hausmann et al 2007).
How to get Arab firms exporting
Jamal Ibrahim Haidar, 18 February 2012
Exports are important for economic growth and employment (see, for example, Mayer et al. 2011, Baldwin and Harrigan 2011, Eckel and Neary 2010, and Baldwin and Gu 2009). However, countries do not do trade; it is firms that export and import (Eaton et al 2011, Bernard et al 2011).
Does the renminbi matter? Evidence from China’s disaggregated processed exports
Willem Thorbecke, 29 January 2012
China’s surging exports and its exchange rate have elicited consternation from economists, politicians, and pundits. How would a stronger renminbi affect China’s exports and its trade surplus? China’s entire surplus is in a customs regime called processing trade.
From trade to domestic collapse? On the complementarity between exports and domestic sales
Nicolas Berman, Antoine Berthou, Jérôme Héricourt, 16 December 2011
The Eurozone is close to slipping into a recession. The most recent OECD forecasts point to an average growth of 0.2% of GDP in volume within the EZ151 in 2012, ranging from -3% (Greece and Portugal) and -0.5% (Italy), to +0.6% (Germany) and +1% (Ireland).
Can FDI help developing countries upgrade export quality?
Torfinn Harding, Beata Javorcik, 30 September 2011
The benefits of global economic integration have become increasingly evident over the last decades. Increased movement of goods, services, people and capital across international borders has helped many developing countries achieve fast and sustained economic growth.
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