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Cover Art
Author Li, Xiangming.

Title Trade Liberalization and Real Exchange Rate Movement [electronic resource] / Xiangming Li.

Published Washington, D.C. : International Monetary Fund, 2003.


Location Call No. Status
Physical description 1 online resource (38 p.)
Series IMF Working Papers; Working Paper ; No. 03/124
IMF Working Papers; Working Paper ; No. 03/124
Summary Although theory suggests that the real exchange rate should depreciate after a credible trade liberalization but could appreciate temporarily with a noncredible one, little empirical evidence exists. Unlike existing studies that use either indirect tests or unreliable openness measures, this paper uses an event study based on carefully documented trade liberalization in 45 countries. The result shows that real exchange rates depreciate after countries open their economies to trade. In countries with multiple liberalization episodes, however, real exchange rates appreciate during early episodes, suggesting that partial or noncredible trade liberalizations are associated with real appreciation.
Notes Description based on print version record.
Other author Li, Xiangming.
Subject Average Tariff
Exchange Rate
Exchange Rates
Macroeconomic Aspects of International Trade and Finance: General
Real Exchange Rate
ISBN 1451854749 : 15.00 USD
ISSN 1018-5941
Standard Number 10.5089/9781451854749.001