Romania: Selected Issues and Statistical Appendix

International Monetary Fund

No 2003/012, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper and Statistical Appendix provides an estimate of the long-term path of Romania’s real exchange rate. The paper describes the recent history of the real exchange rate and its main determinants. A model is developed of a time-varying long-term exchange rate path, mainly driven by the terms of trade and net foreign direct investment. This long-term path is then used to assess the developments in Romania’s actual exchange rate. The paper also examines Romania’s growth potential in the medium term.

Keywords: ISCR; CR; exchange rate; capital; wage; capital share; estimate; investment rate; productivity gain; exchange rate path; capital stock data; productivity differential; Real exchange rates; Employment; Wages; Terms of trade; Europe; Eastern Europe; Baltics (search for similar items in EconPapers)
Pages: 73
Date: 2003-01-17
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Citations: View citations in EconPapers (2)

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