El Salvador: Recent Economic Developments

International Monetary Fund

No 1998/032, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper analyzes economic developments in El Salvador during 1990–97. The paper assesses the prospects of the Salvadoran economy in facing the new challenges coming from its reinsertion into the global economy. The paper describes the evolution of trade competitiveness and evaluates the divergence from equilibrium of the real effective exchange rate. It concludes that the exchange rate behavior in the last decade appears to have followed roughly the path predicted by a long-term equilibrium exchange rate model consistent with a current account deficit of about 2 percent of GDP.

Keywords: ISCR; CR; private sector investment; trade competitiveness; INSEPRO incident; remittances model; accumulated exchange rate appreciation; emigration data; equilibrium exchange rate; maquila export; Exchange rates; Real effective exchange rates; Remittances; Total factor productivity; Outward remittances; Western Hemisphere; Central America; Global (search for similar items in EconPapers)
Pages: 108
Date: 1998-05-29
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