Export surges: the power of a competitive currency
"How can countries stimulate and sustain strong export growth? To answer this question, the authors examine 92 episodes of export surges, defined as significant increases in manufacturing export growth that are sustained for at least seven years. They find that export surges in developing count...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
[Washington, D.C]
World Bank
[2008]
|
| Schriftenreihe: | Policy research working paper
4750 |
| Schlagworte: | |
| Online-Zugang: | BSB01 EUV01 HTW01 FHI01 IOS01 Volltext |
| Zusammenfassung: | "How can countries stimulate and sustain strong export growth? To answer this question, the authors examine 92 episodes of export surges, defined as significant increases in manufacturing export growth that are sustained for at least seven years. They find that export surges in developing countries tend to be preceded by a large real depreciation-which leaves the exchange rate significantly undervalued-and a reduction in exchange rate volatility. In contrast, in developed countries, the role of the exchange rate is less pronounced. The authors examine why the exchange rate is so important in developing countries and find that the depreciation leads to a significant reallocation of resources in the export sector. In particular, depreciation generates more entries into new export products and new markets, and the percentage of new entries that fail after one year declines. These new products and new markets are important, accounting for 25 percent of export growth during the surge in developing countries. The authors argue that maintaining a competitive currency leads firms to expand the product and market space for exports, inducing a large reorientation of the tradable sector. "--World Bank web site |
| Beschreibung: | Includes bibliographical references Title from PDF file as viewed on 5/12/2009 |
| Beschreibung: | 1 Online-Ressource |
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| 520 | 3 | |a "How can countries stimulate and sustain strong export growth? To answer this question, the authors examine 92 episodes of export surges, defined as significant increases in manufacturing export growth that are sustained for at least seven years. They find that export surges in developing countries tend to be preceded by a large real depreciation-which leaves the exchange rate significantly undervalued-and a reduction in exchange rate volatility. In contrast, in developed countries, the role of the exchange rate is less pronounced. The authors examine why the exchange rate is so important in developing countries and find that the depreciation leads to a significant reallocation of resources in the export sector. In particular, depreciation generates more entries into new export products and new markets, and the percentage of new entries that fail after one year declines. These new products and new markets are important, accounting for 25 percent of export growth during the surge in developing countries. The authors argue that maintaining a competitive currency leads firms to expand the product and market space for exports, inducing a large reorientation of the tradable sector. "--World Bank web site | |
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Datensatz im Suchindex
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| discipline | Wirtschaftswissenschaften |
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| index_date | 2024-07-03T22:27:45Z |
| indexdate | 2024-07-10T09:54:28Z |
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| language | English |
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| spelling | Freund, Caroline L. Verfasser aut Export surges the power of a competitive currency Caroline Freund, Martha Denisse Pierola [Washington, D.C] World Bank [2008] 1 Online-Ressource txt rdacontent c rdamedia cr rdacarrier Policy research working paper 4750 Includes bibliographical references Title from PDF file as viewed on 5/12/2009 "How can countries stimulate and sustain strong export growth? To answer this question, the authors examine 92 episodes of export surges, defined as significant increases in manufacturing export growth that are sustained for at least seven years. They find that export surges in developing countries tend to be preceded by a large real depreciation-which leaves the exchange rate significantly undervalued-and a reduction in exchange rate volatility. In contrast, in developed countries, the role of the exchange rate is less pronounced. The authors examine why the exchange rate is so important in developing countries and find that the depreciation leads to a significant reallocation of resources in the export sector. In particular, depreciation generates more entries into new export products and new markets, and the percentage of new entries that fail after one year declines. These new products and new markets are important, accounting for 25 percent of export growth during the surge in developing countries. The authors argue that maintaining a competitive currency leads firms to expand the product and market space for exports, inducing a large reorientation of the tradable sector. "--World Bank web site Online-Ausg Also available in print Exports Developing countries Foreign exchange rates Developing countries Pierola, Martha Denisse Sonstige oth World Bank Sonstige oth Freund, Caroline L Export surges http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4750 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Freund, Caroline L. Export surges the power of a competitive currency Exports Developing countries Foreign exchange rates Developing countries |
| title | Export surges the power of a competitive currency |
| title_auth | Export surges the power of a competitive currency |
| title_exact_search | Export surges the power of a competitive currency |
| title_exact_search_txtP | Export surges the power of a competitive currency |
| title_full | Export surges the power of a competitive currency Caroline Freund, Martha Denisse Pierola |
| title_fullStr | Export surges the power of a competitive currency Caroline Freund, Martha Denisse Pierola |
| title_full_unstemmed | Export surges the power of a competitive currency Caroline Freund, Martha Denisse Pierola |
| title_short | Export surges |
| title_sort | export surges the power of a competitive currency |
| title_sub | the power of a competitive currency |
| topic | Exports Developing countries Foreign exchange rates Developing countries |
| topic_facet | Exports Developing countries Foreign exchange rates Developing countries |
| url | http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4750 |
| work_keys_str_mv | AT freundcarolinel exportsurgesthepowerofacompetitivecurrency AT pierolamarthadenisse exportsurgesthepowerofacompetitivecurrency AT worldbank exportsurgesthepowerofacompetitivecurrency |