Taxa de câmbio, poupança e produtividade: impactos de curto e longo prazo
AbstractExchange rates, savings and productivity: short and long-term impacts - The objective of this paper is to analyze, from a theoretical point of view, the relation between real exchange rates and economic development. The main hypothesis is very much in line with the Dutch disease literature and states that competitive currencies contribute to the existence and maintenance of the manufacturing sector in the economy. This, in turn, brings about higher growth rates in the long run, given the existence of increasing returns in the industrial sector and its importance in generating technological change and increasing productivity in the overall economy. We also show from a theoretical perspective how a competitive exchange rate can stimulate domestic savings by avoiding consumption booms based on currency overvaluation.
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Bibliographic InfoArticle provided by Instituto de Economia, Universidade Estadual de Campinas (UNICAMP) in its journal Revista Economia e Sociedade.
Volume (Year): 42 (2011)
Issue (Month): (August)
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Exchange rate; Savings; Investment; Economic development - Brazil.;
Find related papers by JEL classification:
- F3 - International Economics - - International Finance
- F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
- O2 - Economic Development, Technological Change, and Growth - - Development Planning and Policy
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