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External Performance in Low-Income Countries

External Performance in Low-Income Countries
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Series:
Occasional Papers
Author(s):
Alessandro Prati, Luca Ricci, Lone Engbo Christiansen, Stephen Tokarick, and Thierry Tressel
Publisher:
INTERNATIONAL MONETARY FUND
Published Date:
March 2011
DOI:
http://dx.doi.org/10.5089/9781616350536.084
ISBN:
9781616350536
ISSN:
0251-6365
Page:
71
Assessments of exchange rate misalignments and external imbalances for low-income countries are challenging because methodologies developed for advanced and emerging economies cannot be automatically applied to poorer nations. This paper uses a large database, unique in the set of indicators and number of countries it covers, to estimate the relationship in low-income countries between a set of fundamentals in the medium to long term and the real effective exchange rate, the current account, and the net external assets position.
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