ECONOMIC TRANSFORMATION AND REAL EXCHANGE RATES IN THE 2000s: THE BALASSA-SAMUELSON CONNECTION

  • Charles Wyplosz
  • Published 2001

Abstract

In a developing economy, one which is catching up with the income levels in the more economically advanced countries, productivity in the sectors producing tradeable goods will tend to rise faster than in those producing non-tradeables. Since wage increases tend to be more or less the same in all sectors, inflation will be relatively higher in the non… (More)

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