Arbeitspapier
Exchange rate volatility and growth in emerging Europe and East Asia
The paper investigates the impact of exchange rate volatility on growth in Emerging Europe and East Asia. Exchange stability has been argued to affect growth negatively as it deprives countries from the ability to react in a flexible way to asymmetric real shocks and may enhance the probability of speculative capital inflows and overheating. In contrast, exchange rate stability can be argued to affect growth in emerging market economies positively because transaction costs for international trade decline, uncertainty for international capital flows is less and macroeconomic stability is enhanced. Cross country panel estimations provide evidence for a negative impact of exchange rate volatility on growth both in Emerging Europe and East Asia.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 2023
- Klassifikation
-
Wirtschaft
Economic Growth of Open Economies
Foreign Exchange
Monetary Systems; Standards; Regimes; Government and the Monetary System; Payment Systems
- Thema
-
Wechselkurs
Volatilität
Wirtschaftswachstum
Schätzung
Aufstrebende Märkte
Osteuropa
Ostasien
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Schnabl, Gunther
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2007
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Schnabl, Gunther
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2007
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