Exchange rate policy has received renewed attention because of its prominent role in adjustment programs. Several analysts have examined the impact of real exchange rate uncertainty on the performance of such economic variables as GDP growth, exports, and investment. The author uses data on the real exchange rate for 56 developing countries with managed exchange rates to make three points. First, the distribution of annual changes in real exchange...
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1991/10/31
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Documento de trabalho sobre pesquisa de políticas
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WPS791
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1
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1
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2010/07/01
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Disclosed
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Measuring real exchange rate instability in developing countries : empirical evidence and implications
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standard deviation
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