Global Value Chains and External Adjustment: Do Exchange Rates Still Matter?

Global Value Chains and External Adjustment: Do Exchange Rates Still Matter?
The paper explores how international integration through global value chains shapes the working of exchange rates to induce external adjustment both in the short and medium run. The analysis indicates that greater integration into international value chains reduces the exchange rate elasticity of gross trade volumes. This result holds both in... READ MORE...

Publication date: December 2019
ISBN 9781513521985
$18.00

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Publication date: December 2019

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