Economic Growth and Real Exchange Rate: An Overview of the Balassa-Samuelson Hypothesis in Asia¶
Ito, T., Isard, P., & Symansky, S. (1997). Economic Growth and Real Exchange Rate: An Overview of the Balassa-Samuelson Hypothesis in Asia: An Overview of the Balassa-Samuelson Hypothesis in Asia. NBER Working Paper Series.
Cited by¶
1 citation across 1 artifact.
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Domain-specific¶
- Balassa-Samuelson Effect
- International price-level / PPP analysis — the home turf; the structural explanation for why richer, faster-growing countries are systematically dearer in international comparison (the Zurich-vs-Lagos Big Mac gap), i.e. why purchasing-power parity fails in one predictable direction. Real-exchange-rate economics — predicts the equilibrium real-appreciation path of a converging economy from its tradable-versus-non-tradable productivity differential, beyond what nominal rates explain. Emerging-market and catch-up macroeconomics — the framework for interpreting whether a fast-grower's real appreciation is fundamental (productivity convergence) or frothy (capital inflow), applied to Japan 1950–1990, the post-1985 East Asian tigers, and Eastern European EU-accession economies
This sourceTests the Balassa-Samuelson hypothesis on APEC data and finds Japan, Korea and Taiwan (and, less so, Hong Kong and Singapore) following the tradable/nontradable productivity-differential path to real appreciation.
Supported in partVerified against a saved copy of the source
“The paper tests the Balassa-Samuelson hypothesis (rapid economic growth is accompanied by real exchange rate appreciation because of differential productivity growth between tradable and nontradable sectors) using data of the APEC economies. Japan, Korea, Taiwan and, to a lesser extent, Hong Kong and Singapore, were proved to follow the Balassa-Samuelson path.”
- International price-level / PPP analysis — the home turf; the structural explanation for why richer, faster-growing countries are systematically dearer in international comparison (the Zurich-vs-Lagos Big Mac gap), i.e. why purchasing-power parity fails in one predictable direction. Real-exchange-rate economics — predicts the equilibrium real-appreciation path of a converging economy from its tradable-versus-non-tradable productivity differential, beyond what nominal rates explain. Emerging-market and catch-up macroeconomics — the framework for interpreting whether a fast-grower's real appreciation is fundamental (productivity convergence) or frothy (capital inflow), applied to Japan 1950–1990, the post-1985 East Asian tigers, and Eastern European EU-accession economies
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