| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w5979 |
| 来源ID | Working Paper 5979 |
| Economic Growth and Real Exchange Rate: An Overview of the Balassa-Samuelson Hypothesis in Asia | |
| Takatoshi Ito; Peter Isard; Steven Symansky | |
| 发表日期 | 1997-03-01 |
| 出版年 | 1997 |
| 语种 | 英语 |
| 摘要 | The paper tests the Balassa-Samuelson hypothesis (rapid economic growth is accompanied by real exchange rate appreciation because of differential productivity growth between tradable and nontradable sectors) using data of the APEC economies. Japan, Korea, Taiwan and, to a lesser extent, Hong Kong and Singapore, were proved to follow the Balassa-Samuelson path. These countries follow a similar industrialization pattern, increasing the weight of high value-added exports. Although Hong Kong and Singapore grew fast, their real exchange rates appreciated only moderately. High productivity growth in service sectors might have been the reason for this. Other fast-growing ASEAN countries, such as Thailand, Indonesia and Malaysia did not experience real appreciation. Closer examinations of various components of the Balassa-Samuelson hypothesis revealed that key assumptions are not uniformly supported: There is no uniform pattern for the movement of nontradable prices relative to tradable prices; and tradable prices (measured by common currency) do not show the international arbitrage. |
| 主题 | Macroeconomics ; Business Cycles ; International Economics ; International Finance |
| URL | https://www.nber.org/papers/w5979 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/563480 |
| 推荐引用方式 GB/T 7714 | Takatoshi Ito,Peter Isard,Steven Symansky. Economic Growth and Real Exchange Rate: An Overview of the Balassa-Samuelson Hypothesis in Asia. 1997. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w5979.pdf（1208KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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