EXCHANGE RATE, TRADE, FDI AND GROWTH IN UKRAINIAN ECONOMY

Y. Bilenko

Анотація


There is no consensus in the theoretical and empirical literature about any
unique consequence of exchange rate policies on macroeconomic variables. The
empirical studies on this issue can be classified broadly into two categories.
Firstly, a section of the literature investigates whether the exchange rate is a
significant determinant for the balance of trade in the long- and short-run. Some
of them report a significant impact of exchange rate movements on balance of
trade while some others find insignificant result. Second, there exists another
segment of the studies which tests whether Marshall-Lerner condition and the Jcurve
or S-curve hypothesis –following a devaluation in the exchange rate
initially deteriorates the balance of trade but improves eventually – hold in
reality.

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