IMF Working Papers

Export Performance and External Competitiveness in the former Yugoslav Republic of Macedonia

By Eva Gutierrez

November 1, 2006

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Format: Chicago

Eva Gutierrez. "Export Performance and External Competitiveness in the former Yugoslav Republic of Macedonia", IMF Working Papers 2006, 261 (2006), accessed April 23, 2025, https://doi.org/10.5089/9781451865219.001

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This paper reviews a broad set of indicators of competitiveness in the Macedonian economy and estimates the equilibrium real effective exchange rate (REER) using different methodologies. Although the REER is broadly in equilibrium at present, structural factors are found to hamper competitiveness. While a more competitive exchange rate might improve short-term export performance, sustained improvements require enhanced productivity and resource reallocation to more dynamic sectors, which depends on reforms to improve the business environment.

Subject: Current account, Exchange rates, Exports, Real effective exchange rates, Real exchange rates

Keywords: Exchange rate, Export, FYR Macedonia, WP

Publication Details

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