Export Performance and External Competitiveness in the former Yugoslav Republic of Macedonia

Author/Editor:

Eva Gutierrez

Publication Date:

November 1, 2006

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

This paper reviews a broad set of indicators of competitiveness in the Macedonian economy and estimates the equilibrium real effective exchange rate (REER) using different methodologies. Although the REER is broadly in equilibrium at present, structural factors are found to hamper competitiveness. While a more competitive exchange rate might improve short-term export performance, sustained improvements require enhanced productivity and resource reallocation to more dynamic sectors, which depends on reforms to improve the business environment.

Series:

Working Paper No. 2006/261

Subject:

Current account Exchange rates Exports Real effective exchange rates Real exchange rates

English

Publication Date:

November 1, 2006

ISBN/ISSN:

9781451865219/1018-5941

Stock No:

WPIEA2006261

Pages:

21

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