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    Exchange Rate and External Competitiveness: A Case of Pakistan

    Javed, Sajid Amin; Ali, Wajid; Ahmed, Vaqar | December 2016
    Abstract
    This paper highlights some important points regarding exchange rate and external competitiveness of Pakistan . Firstly, overvalued exchange rate of Pakistani Rupee [PKR] has affected adversely to already weaker external competitiveness of the country . Secondly, claims of failure of depreciation in boosting performance of tradable sector are based on mixing the partial adjustment of PKR towards its equilibrium value during periods of overvaluation with undervaluation - a situation where currency is below its equilibrium value. Thirdly, the gains from depreciation of real exchange rate, during periods of adjustment, were neutralized by loose monetary policy. Fourthly, the State Bank of Pakistan [SBP] needs to develop a tool to assess and monitor the misalignment in PKR so that a better informed and prudent exchange rate policy might be formulated.
    Citation
    Javed, Sajid Amin; Ali, Wajid; Ahmed, Vaqar. 2016. Exchange Rate and External Competitiveness: A Case of Pakistan. © Sustainable Development Policy Institute. http://hdl.handle.net/11540/9288.
    Keywords
    Macroeconomic
    Macroeconomic Analysis
    Macroeconomic Framework
    Macroeconomic Models
    Macroeconomic Performance
    Macroeconomic Planning
    Macroeconomic Policies
    Macroeconomic Reform
    Macroeconomic Stabilization
    Results-Based Monitoring And Evaluation
    Project Evaluation & Review Technique
    Project Evaluation
    Program Evaluation
    Performance Evaluation
    Operations Evaluation
    Evaluation Methods
    Evaluation
    Social condition
    Economic dependence
    Economic assistance
    International monetary relations
    International monetary relations
    International trade
    National accounting
    Market
    Project impact
    Development projects
    Program management
    Performance appraisal
    Project appraisal
    Technology assessment
    Economic indicators
    Growth models
    Gross domestic product
    Macroeconomics
    Economic forecast
    Exports
    Exchange
    Comparative economics
    Index number
    Monetary policy
    Value analysis
    Adjustment cost
    Transaction cost
    Conditionality
    International relations
    Cumulative effects assessment
    Grievance procedures
    Participatory monitoring and evaluation
    Exchange rate
    Economic development projects
    Economic policy
    Economic forecasting
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    Citable URI
    http://hdl.handle.net/11540/9288
    Metadata
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    ExchangeRateandExternalCompetitiveness.pdf (497.6Kb)
    Author
    Javed, Sajid Amin
    Ali, Wajid
    Ahmed, Vaqar
    Theme
    Economics
    Evaluation
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise