Real exchange rate levels and economic development: theoretical analysis and econometric evidence

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The Real Exchange Rate and Economic Growth (2009, background): “Recently, Bhalla (2007), Gala (2007), and Gluzmann at al.”
Keynes at the periphery: Currency hierarchy and challenges for economic policy in emerging economies (2017, background): “Gala (2008), for instance, on a panel of 58 developing countries from 1960 to 1999 and using purchasing power parity (PPP) measures detected a negative relationship between growth and overvaluation.”
The real exchange rate and economic development (2012, background): “An interesting example is the study by Hausmann et al. (2005) which identified and analyzed determinants of ‘growth episodes’ in the latter half of the twentieth century and found that real exchange depreciations tend to precede sustained growth spurts. Other work includes Razin and Collins (1997), ”