Export Performance and External Competitiveness in the former Yugoslav Republic of Macedonia

This paper reviews a broad set of indicators of competitiveness in the Macedonian economy and estimates the equilibrium real effective exchange rate (REER) using different methodologies. Although the REER is broadly in equilibrium at present, structural factors are found to hamper competitiveness. W...

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Bibliographic Details
Main Author: Gutierrez, Eva
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2006
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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653 |a Short-term Capital Movements 
653 |a Current account 
653 |a Current Account Adjustment 
653 |a Real effective exchange rates 
653 |a Balance of payments 
653 |a Currency 
653 |a Trade: General 
653 |a Exports and Imports 
653 |a International economics 
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520 |a This paper reviews a broad set of indicators of competitiveness in the Macedonian economy and estimates the equilibrium real effective exchange rate (REER) using different methodologies. Although the REER is broadly in equilibrium at present, structural factors are found to hamper competitiveness. While a more competitive exchange rate might improve short-term export performance, sustained improvements require enhanced productivity and resource reallocation to more dynamic sectors, which depends on reforms to improve the business environment