Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/212488 
Year of Publication: 
2001
Series/Report no.: 
BOFIT Discussion Papers No. 7/2001
Publisher: 
Bank of Finland, Institute for Economies in Transition (BOFIT), Helsinki
Abstract: 
Several transition countries have experienced strong real exchange rate appreciations.This paper tests the hypothesis that these appreciations reflect underlying productivity gains in the tradable sector.Using panel data over the period 1993 98, the results show clear evidence of productivity-driven exchange rate movements in the central and eastern European and Baltic countries.Transition countries, particularly the EU accession countries that have begun to catch up, can expect to experience further productivity-driven real exchange rate appreciations.Evidence from a large cross-section of non-transition countries indicates that catching up by one percent will be associated with a 0.4 percent real appreciation
Persistent Identifier of the first edition: 
ISBN: 
951-686-956-4
Document Type: 
Working Paper

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