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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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