"Industrial Structure, Competitiveness, and Trade" by Sven W. Arndt
 

Industrial Structure, Competitiveness, and Trade

Document Type

Article

Department

Economics (CMC)

Publication Date

1990

Abstract

This paper examines the effect of sector-specific growth on real exchange rates, competitiveness, and the trade balance. Growth and accumulation in export- and import-competing industries exert their primary effect on the trade balance, while the direct effect of accumulation in non-tradables is on the real exchange rate. Thus, exchange-rate policies that are incompatible with non-tradables equilibrium are bound to fail. Furthermore, growth policies with strong biases toward tradables are often inferior to more balanced strategies, due to their adverse implications for real-exchange- rate movements and the trade balance.

Rights Information

Copyright © 1990 Published by Elsevier Inc.

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