Data for: Current account dynamics, real exchange rate adjustment, and the exchange rate regime in emerging-market economies

Published: 9 Dec 2016 | Version 1 | DOI: 10.17632/mbbrf9x7t9.1
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Description of this data

Abstract of associated article: In emerging-market economies, real exchange rate adjustment is critical for achieving a sustainable current account position and thereby for helping to maintain macroeconomic and financial stability. This study examines two related hypotheses: (i) that real exchange rate adjustment promotes the rebalancing of the current account and (ii) that a flexible nominal exchange rate facilitates real exchange rate adjustment and thus the rebalancing of the current account. Evidence from an event-study analysis for a large set of emerging-market economies over the period 1975–2008 indicates that real exchange rate adjustment has contributed significantly to reducing current account imbalances. The adjustment of current account deficits in countries with a fixed exchange rate regime typically occurs through an exchange rate crisis, and substantial costs in terms of forgone output are incurred. Vector-error-correction analysis supports the findings of the event study; namely, in the long run, real exchange rate movements facilitate current account adjustment.

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This data is associated with the following publication:

Current account dynamics, real exchange rate adjustment, and the exchange rate regime in emerging-market economies

Published in: Journal of Development Economics

Latest version

  • Version 1

    2016-12-09

    Published: 2016-12-09

    DOI: 10.17632/mbbrf9x7t9.1

    Cite this dataset

    Suchanek, Lena (2016), “Data for: Current account dynamics, real exchange rate adjustment, and the exchange rate regime in emerging-market economies ”, Mendeley Data, v1 http://dx.doi.org/10.17632/mbbrf9x7t9.1

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Economics, Macroeconomics

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