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Terms of Trade Shocks and Economic Recovery

This paper identifies factors that contribute to a fast recovery in growth after persistent negative terms of trade shocks, using a sample of 159 countries for 1970-2006. The results suggest that policies matter. Fast recoveries are fairly robustly related to real exchange rate depreciation and impr...

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Bibliographic Details
Main Author: Imam, Patrick
Other Authors: Granziera, Eleonara, Funke, Norbert
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2008
Series:IMF Working Papers
Subjects:
Terms Of Trade
Budget Systems
Currency; Foreign Exchange
Economic Policy; Nternational Cooperation
Exchange Rate Adjustments
Real Effective Exchange Rates
Budget Planning And Preparation
Exports And Imports
International Economics
Budgeting
Foreign Exchange
Budget
Real Exchange Rates
National Budget
Budgeting & Financial Management
Empirical Studies Of Trade
Saudi Arabia
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:This paper identifies factors that contribute to a fast recovery in growth after persistent negative terms of trade shocks, using a sample of 159 countries for 1970-2006. The results suggest that policies matter. Fast recoveries are fairly robustly related to real exchange rate depreciation and improvements in government stability and the institutional environment. A timely increase in aid may also support recovery
Physical Description:23 pages
ISBN:9781451868982

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