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Uruguay: Selected Issues

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  • International Monetary Fund

Abstract

This Selected Issues paper provides a real exchange rate and competitiveness assessment for Uruguay. It looks at the recent developments in key external competitiveness indicators such as the bilateral real effective exchange rates, export volumes, export market shares, export unit values, unit labor costs as well as foreign direct investment performance. The paper pursues an assessment of the real exchange rate following a broad-based strategy of applying four different approaches, including the purchasing power parity approach, the macroeconomic balance approach, the external sustainability approach, and the equilibrium real exchange rate approach.

Suggested Citation

  • International Monetary Fund, 2010. "Uruguay: Selected Issues," IMF Staff Country Reports 2010/043, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2010/043
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    References listed on IDEAS

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    1. Cavallo, Michele & Majnoni, Giovanni, 2001. "Do Banks provision for bad loans in good times? empirical evidence and policy implications," Policy Research Working Paper Series 2619, The World Bank.
    2. Laeven, Luc & Majnoni, Giovanni, 2003. "Loan loss provisioning and economic slowdowns: too much, too late?," Journal of Financial Intermediation, Elsevier, vol. 12(2), pages 178-197, April.
    3. Santiago Fernández de Lis & Jorge Martínez Pagés & Jesús Saurina, 2001. "Credit growth, problem loans and credit risk provisioning in Spain," BIS Papers chapters, in: Bank for International Settlements (ed.), Marrying the macro- and micro-prudential dimensions of financial stability, volume 1, pages 331-353, Bank for International Settlements.
    4. Bikker, J.A. & Metzemakers, P.A.J., 2005. "Bank provisioning behaviour and procyclicality," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 15(2), pages 141-157, April.
    5. Torsten Wezel & Mr. Mario Mansilla & Gustavo Adler, 2009. "Modernizing Bank Regulation in Support of Financial Deepening: The Case of Uruguay," IMF Working Papers 2009/199, International Monetary Fund.
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