Currency Undervaluation and Economic Growth in Central and Eastern European Countries
- Alina Klein
- Rudolf Klein
Abstract
This paper analyzes the relationship between currency undervaluation and economic growth in Central and Eastern European (CEE) countries. Rodrik (2008) finds that, in general, developing countries experience higher economic growth when their currency is undervalued. We show that, due to their relatively rapid transition from centrally-planned to market systems, CEE economies are not expected to behave in the same manner as other developing countries. We use Rodrik’s procedure of quantifying the undervaluation of a currency, and a sample of 12 countries with about 20 years of data to run panel data regressions with various control variables. In all instances we find that, for the CEE countries, currency undervaluation is associated with reduced economic growth.
- Full Text:
PDF
- DOI:10.5539/ijef.v9n7p69
Journal Metrics
Index
- Academic Journals Database
- ACNP
- ANVUR (Italian National Agency for the Evaluation of Universities and Research Institutes)
- Berkeley Library
- CNKI Scholar
- COPAC
- Copyright Clearance Center
- Directory of Research Journals Indexing
- DTU Library
- EBSCOhost
- EconBiz
- EconPapers
- Elektronische Zeitschriftenbibliothek (EZB)
- EuroPub Database
- Genamics JournalSeek
- GETIT@YALE (Yale University Library)
- Harvard Library
- Harvard Library E-Journals
- IBZ Online
- IDEAS
- JournalTOCs
- LOCKSS
- MIAR
- NewJour
- Norwegian Centre for Research Data (NSD)
- Open J-Gate
- PKP Open Archives Harvester
- Publons
- RePEc
- ROAD
- Scilit
- SHERPA/RoMEO
- SocioRePEc
- Standard Periodical Directory
- Technische Informationsbibliothek (TIB)
- The Keepers Registry
- UCR Library
- Ulrich's
- Universe Digital Library
- UoS Library
- ZBW-German National Library of Economics
- Zeitschriften Daten Bank (ZDB)
Contact
- Michael ZhangEditorial Assistant
- ijef@ccsenet.org