Real Exchange Rates, Economic Complexity, and Investment.:
We show that the response of firm-level investment to real exchange rate movements varies depending on the production structure of the economy. Firms in advanced economies and in emerging Asia increase investment when the domestic currency weakens, in line with the traditional Mundell-Fleming model....
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Weitere Verfasser: | , |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C. :
International Monetary Fund,
2018.
|
| Schriftenreihe: | IMF working paper ;
18/107. |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | We show that the response of firm-level investment to real exchange rate movements varies depending on the production structure of the economy. Firms in advanced economies and in emerging Asia increase investment when the domestic currency weakens, in line with the traditional Mundell-Fleming model. However, in other emerging market and developing economies, as well as some advanced economies with a low degree of structural economic complexity, corporate investment increases when the domestic currency strengthens. This result is consistent with Diaz Alejandro (1963)-in economies where capital goods are mostly imported, a stronger real exchange rate reduces investment costs for domestic firms. |
| Beschreibung: | 1 online resource (22 pages) |
| ISBN: | 9781484356364 1484356365 |
Internformat
MARC
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| 100 | 1 | |a Brito, Steve. | |
| 245 | 1 | 0 | |a Real Exchange Rates, Economic Complexity, and Investment. |
| 260 | |a Washington, D.C. : |b International Monetary Fund, |c 2018. | ||
| 300 | |a 1 online resource (22 pages) | ||
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| 505 | 0 | |a Cover; Real Exchange Rates, Economic Complexity, and Investment; Abstract; I. INTRODUCTION; II. A THEORETICAL MODEL; III. DATA AND DESCRIPTIVE STATISTICS; IV. EMPIRICAL APPROACH; V. RESULTS; VI. ROBUSTNESS CHECKS; VII. CONCLUDING REMARKS. | |
| 520 | 3 | |a We show that the response of firm-level investment to real exchange rate movements varies depending on the production structure of the economy. Firms in advanced economies and in emerging Asia increase investment when the domestic currency weakens, in line with the traditional Mundell-Fleming model. However, in other emerging market and developing economies, as well as some advanced economies with a low degree of structural economic complexity, corporate investment increases when the domestic currency strengthens. This result is consistent with Diaz Alejandro (1963)-in economies where capital goods are mostly imported, a stronger real exchange rate reduces investment costs for domestic firms. | |
| 650 | 0 | |a Foreign exchange rates |x Econometric models. | |
| 650 | 6 | |a Taux de change |x Modèles économétriques. | |
| 650 | 7 | |a Foreign exchange rates |x Econometric models |2 fast | |
| 700 | 1 | |a Magud, Nicolas E. | |
| 700 | 1 | |a Sosa, Sebastian. | |
| 758 | |i has work: |a REAL EXCHANGE RATES, ECONOMIC COMPLEXITY, AND INVESTMENT (Text) |1 https://id.oclc.org/worldcat/entity/E39PD3HdKCBYpTwktVdTy7q4YK |4 https://id.oclc.org/worldcat/ontology/hasWork | ||
| 776 | 0 | 8 | |i Print version: |a Brito, Steve. |t Real Exchange Rates, Economic Complexity, and Investment. |d Washington, D.C. : International Monetary Fund, ©2018 |z 9781484354834 |
| 830 | 0 | |a IMF working paper ; |v 18/107. |0 http://id.loc.gov/authorities/names/no89010263 | |
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| author2 | Magud, Nicolas E. Sosa, Sebastian |
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| contents | Cover; Real Exchange Rates, Economic Complexity, and Investment; Abstract; I. INTRODUCTION; II. A THEORETICAL MODEL; III. DATA AND DESCRIPTIVE STATISTICS; IV. EMPIRICAL APPROACH; V. RESULTS; VI. ROBUSTNESS CHECKS; VII. CONCLUDING REMARKS. |
| ctrlnum | (OCoLC)1039685984 |
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| discipline | Wirtschaftswissenschaften |
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| isbn | 9781484356364 1484356365 |
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| spelling | Brito, Steve. Real Exchange Rates, Economic Complexity, and Investment. Washington, D.C. : International Monetary Fund, 2018. 1 online resource (22 pages) text txt rdacontent computer c rdamedia online resource cr rdacarrier IMF Working Paper ; 18/107 Print version record. Cover; Real Exchange Rates, Economic Complexity, and Investment; Abstract; I. INTRODUCTION; II. A THEORETICAL MODEL; III. DATA AND DESCRIPTIVE STATISTICS; IV. EMPIRICAL APPROACH; V. RESULTS; VI. ROBUSTNESS CHECKS; VII. CONCLUDING REMARKS. We show that the response of firm-level investment to real exchange rate movements varies depending on the production structure of the economy. Firms in advanced economies and in emerging Asia increase investment when the domestic currency weakens, in line with the traditional Mundell-Fleming model. However, in other emerging market and developing economies, as well as some advanced economies with a low degree of structural economic complexity, corporate investment increases when the domestic currency strengthens. This result is consistent with Diaz Alejandro (1963)-in economies where capital goods are mostly imported, a stronger real exchange rate reduces investment costs for domestic firms. Foreign exchange rates Econometric models. Taux de change Modèles économétriques. Foreign exchange rates Econometric models fast Magud, Nicolas E. Sosa, Sebastian. has work: REAL EXCHANGE RATES, ECONOMIC COMPLEXITY, AND INVESTMENT (Text) https://id.oclc.org/worldcat/entity/E39PD3HdKCBYpTwktVdTy7q4YK https://id.oclc.org/worldcat/ontology/hasWork Print version: Brito, Steve. Real Exchange Rates, Economic Complexity, and Investment. Washington, D.C. : International Monetary Fund, ©2018 9781484354834 IMF working paper ; 18/107. http://id.loc.gov/authorities/names/no89010263 FWS01 ZDB-4-EBU FWS_PDA_EBU https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=1824084 Volltext |
| spellingShingle | Brito, Steve Real Exchange Rates, Economic Complexity, and Investment. IMF working paper ; Cover; Real Exchange Rates, Economic Complexity, and Investment; Abstract; I. INTRODUCTION; II. A THEORETICAL MODEL; III. DATA AND DESCRIPTIVE STATISTICS; IV. EMPIRICAL APPROACH; V. RESULTS; VI. ROBUSTNESS CHECKS; VII. CONCLUDING REMARKS. Foreign exchange rates Econometric models. Taux de change Modèles économétriques. Foreign exchange rates Econometric models fast |
| title | Real Exchange Rates, Economic Complexity, and Investment. |
| title_auth | Real Exchange Rates, Economic Complexity, and Investment. |
| title_exact_search | Real Exchange Rates, Economic Complexity, and Investment. |
| title_full | Real Exchange Rates, Economic Complexity, and Investment. |
| title_fullStr | Real Exchange Rates, Economic Complexity, and Investment. |
| title_full_unstemmed | Real Exchange Rates, Economic Complexity, and Investment. |
| title_short | Real Exchange Rates, Economic Complexity, and Investment. |
| title_sort | real exchange rates economic complexity and investment |
| topic | Foreign exchange rates Econometric models. Taux de change Modèles économétriques. Foreign exchange rates Econometric models fast |
| topic_facet | Foreign exchange rates Econometric models. Taux de change Modèles économétriques. Foreign exchange rates Econometric models |
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