ARCAND, Jean-Louis; GUILLAUMONT, Patrick; JEANNENEY, … - Centre d'Études et de Recherches sur le Développement … - 2002
Based on an annual sample of 122 countries over the 1963-1994 period, this paper shows that real exchange rate … exchange rate are perceived as being transitory in LDCs, given its high degree of instability in these countries. Our empirical …