NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Publications by Steven Symansky

Contact and additional information for this authorAll NBER papers and publicationsNBER Working Papers only

Working Papers and Chapters

January 1999Economic Growth and Real Exchange Rate: An Overview of the Balassa-Samuelson Hypothesis in Asia
with Takatoshi Ito, Peter Isard
in Changes in Exchange Rates in Rapidly Developing Countries: Theory, Practice, and Policy Issues (NBER-EASE volume 7), Takatoshi Ito and Anne O. Krueger, editors
March 1997Economic Growth and Real Exchange Rate: An Overview of the Balassa-Samuelson Hypothesis in Asia
with Takatoshi Ito, Peter Isard: w5979
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 va...

Published:

January 1990International Spillovers of Taxation
with Jacob Frenkel, Assaf Razin
in Taxation in the Global Economy, Assaf Razin and Joel Slemrod, editors

Contact and additional information for this authorAll NBER papers and publicationsNBER Working Papers only

 
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