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Exchange Rate Policy, Patterns of Specialization, and Economic Development

Theory and Evidence in Developing Countries

By Paulo Gala, Gilberto Libanio | Fall 2007

This paper argues that competitive currencies contribute to the existence and maintenance of the manufacturing sector in the economy. It analyzes examples of successful exchange rate policies and claims that the industrial sector bears most of the burden when the currency appreciates, and that Brazil risks deindustrialization if there are no changes in the exchange rate regime.

Download: Exchange Rate Policy, Patterns of Specialization, and Economic Development (PDF, 329.83 K)

Read More: Development, Economy, Brazil, Americas

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