Abstract
The aim of this paper is to assess the stability of the impacts of real exchange rate undervaluation and domestic technological capabilities on growth across development levels. Panel regressions with development-level interactions are used to test the stability of these variables’ impact on growth. The results show that real undervaluation is a driver of growth across all development levels, once technological capabilities are accounted for; however, it is more important for developing and developed countries than for emerging countries.
Publisher
Universidad Nacional de Colombia