| bibtype |
J -
Journal Article
|
| ARLID |
0599306 |
| utime |
20241021135405.4 |
| mtime |
20241012235959.9 |
| SCOPUS |
85194494615 |
| WOS |
001234024300001 |
| DOI |
10.1007/s00181-024-02600-4 |
| title
(primary) (eng) |
Exchange rate misalignments, growth, and institutions. |
| specification |
| page_count |
95 s. |
| media_type |
P |
|
| serial |
| ARLID |
cav_un_epca*0293026 |
| ISSN |
0377-7332 |
| title
|
Empirical Economics |
| volume_id |
67 |
| volume |
4 (2024) |
| page_num |
1705-1799 |
| publisher |
|
|
| keyword |
Exchange rate misalignments |
| keyword |
Economic growth |
| keyword |
Institutions |
| author
(primary) |
| ARLID |
cav_un_auth*0231592 |
| name1 |
Baxa |
| name2 |
Jaromír |
| institution |
UTIA-B |
| full_dept (cz) |
Ekonometrie |
| full_dept (eng) |
Department of Econometrics |
| department (cz) |
E |
| department (eng) |
E |
| full_dept |
Department of Econometrics |
| country |
CZ |
| share |
50 |
| garant |
S |
| fullinstit |
Ústav teorie informace a automatizace AV ČR, v. v. i. |
|
| author
|
| ARLID |
cav_un_auth*0244921 |
| name1 |
Paulus |
| name2 |
M. |
| country |
CZ |
| garant |
K |
|
| source |
|
| source |
|
| cas_special |
| project |
| project_id |
GA16-02392S |
| agency |
GA ČR |
| country |
CZ |
| ARLID |
cav_un_auth*0474626 |
|
| abstract
(eng) |
This article revisits the relationship between economic growth and exchange rate misalignments. We aim to test whether undervaluation's impact on growth depends on institutional quality, as suggested in the previous literature. In our analysis, we focus on recent decades characterized by globalization. We use the framework of cross-country growth regressions estimated using the recently developed two-stage instrumental variable method, which allows accounting for cross sectional dependence. In addition, we use external instruments to address the potential endogeneity between economic growth and undervaluation. Our results confirm the positive relationship between undervaluation and growth across all income groups from low-income to high-income countries. The role of institutions in the transmission of undervaluation on growth appears consistently only among lower-middle-income countries. Therefore, while our results point to the positive effects of undervaluation, the support for the hope that countries can successfully compensate for poor institutional quality via the undervaluation of currencies is weaker and limited to specific stages of economic development. |
| result_subspec |
WOS |
| RIV |
AH |
| FORD0 |
50000 |
| FORD1 |
50200 |
| FORD2 |
50202 |
| reportyear |
2025 |
| num_of_auth |
2 |
| inst_support |
RVO:67985556 |
| permalink |
https://hdl.handle.net/11104/0357077 |
| cooperation |
| ARLID |
cav_un_auth*0308136 |
| name |
Univerzita Karlova v Praze, Fakulta sociálních věd |
| institution |
FSV UK |
| country |
CZ |
|
| confidential |
S |
| mrcbC91 |
C |
| mrcbT16-e |
ECONOMICS|SOCIALSCIENCESMATHEMATICALMETHODS |
| mrcbT16-j |
0.646 |
| mrcbT16-D |
Q3 |
| arlyear |
2024 |
| mrcbU14 |
85194494615 SCOPUS |
| mrcbU24 |
PUBMED |
| mrcbU34 |
001234024300001 WOS |
| mrcbU63 |
cav_un_epca*0293026 Empirical Economics 67 4 2024 1705 1799 0377-7332 1435-8921 Heidelberg Physica |
|