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Thi hong hanh Pham and Duc thinh Nguyen
''Does exchange rate policy matter for economic growth? Vietnam evidence from a co-integration approach ''
( 2010, Vol. 30 No.1 )
Both economic growth and exchange rate theories suggest that the exchange rate regime could have consequences for the medium-term growth of a country, directly, through its effects on the adjustment to shocks, and indirectly, through its impact on the important determinants of growth. It is, however, surprising that there was little empirical work investigating the indirect relationship between the exchange rate policy and economics growth in the case of a specific country. In a co-integration framework, our research attempts to fill the gap by econometrically investigating the possible impacts of exchange rate regime on economic growth through two main channels - Foreign direct investment (FDI) and Exports - in the case of Vietnam - a successful example of a transitional economy.
Keywords: Exports, Exchange Rate, FDI, Growth, Co-integration
JEL: F4 - Macroeconomic Aspects of International Trade and Finance: General
O1 - Economic Development: General
Manuscript Received : Dec 17 2009 Manuscript Accepted : Jan 11 2010

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