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The real exchange rate in India: determinants and targeting
Emphasises parsimonious models that investigate the influence of several macroeconomic, financial and structural (policy) variables
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Overview
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Read This Document
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Meet The Authors
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Papers by Same Organization
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The paper studies the behaviour of the real exhange rate (RER) in India. The first part investigates the role of important macroeconomic (behaviour and policy) variables in explaining the movement of the RER. It is found that the investment-gdp ratio, the overall fiscal deficit of the public sector and the nominal exchange rate are important explanatory variables. The second part of the paper seeks to determine whether real exchange rate targeting has been used in India as a tool in enhancing the competitiveness of the tradable sector. It is found that this is indeed the case, and moreover, the correlation between inflation and nominal evaluations is found to be small.
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India
Chief Economist, National Council of Applied Economic Research (NCAER), India
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| Economic activities are unevenly distributed across space |
| By Ottaviano, G. and Puga, D., 1997 |
| Produced by: Centre for Economic Performance (CEP), London |
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| Countries: United Kingdom |
| Themes: Globalization and Trade, Transport |
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| An overview of recent research that considers distribution-dynamics approach to analyze convergence |
| By Quah, D., 1996 |
| Produced by: Centre for Economic Performance (CEP), London |
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| Countries: United Kingdom |
| Themes: Macroeconomics and Economic Growth |
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