IMF Staff Country Reports

Romania: Selected Issues and Statistical Appendix

Publication Date:

January 17, 2003

Electronic Access:

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Summary:

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.

Series:

Country Report No. 2003/012

Subject:

Employment Foreign exchange International trade Labor Labor markets Real exchange rates Terms of trade Wages