Medium-term framework for analysis of the real exchange rate : applications to the Philippines and Tanzania (Английский)

A key element in the resumption of sustainable growth for many developing countries currently facing balance of payment difficulties is the maintenance of a competitive real exchange rate. To give direction to exchange rate policy, it is useful to have a sense of the appropriate level for the exchange rate in the light of the real factors affecting the economy over the medium-term. This paper presents a framework for analyzing this real exchange rate...
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