01696cas a2200241 a 4500 AALejournalIMF003907 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451862522 1018-5941 BD-DhAAL BD-DhAAL Miyajima, Ken. Real Exchange Rates in Growing Economies : How Strong Is the Role of the Nontradables Sector? / Ken Miyajima. Washington, D.C. : International Monetary Fund, 2005. 1 online resource (35 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper emphasizes the importance of total factor productivity (TFP) developments in the nontradables sector to quantitatively demonstrate that the time-honored Balassa-Samuelson hypothesis does not generally apply to episodes of economic growth. Though the Balassa- Samuelson hypothesis postulates that strong economic growth should, in general, be accompanied by a real appreciation in exchange rates, this paper does not find such systematic links. This is because some growth spurts are marked by equal TFP gains in both the tradables and nontradables sectors, and others by larger TFP gains in the nontradables sector. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2005/233 Full text available on IMF http://elibrary.imf.org/view/journals/001/2005/233/001.2005.issue-233-en.xml IMF e-Library