{
  "title": "El Salvador: Recent Economic Developments",
  "publication": "IMF Staff Country Reports, May 29, 1998",
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  "summary": "This paper analyzes economic developments in El Salvador during 1990–97. The paper assesses the prospects of the Salvadoran economy in facing the new challenges coming from its reinsertion into the global economy.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Timeframe analyzed: 1990–97.\n- Purpose: Assess economic developments in El Salvador during 1990–97 and prospects as the economy reinserts into the global economy.\n- Core focus areas: evolution of trade competitiveness; divergence from equilibrium of the real effective exchange rate; implications for the current account."
    },
    {
      "heading": "Key findings",
      "content": "- The exchange rate behavior in the last decade appears to have followed roughly the path predicted by a long-term equilibrium exchange rate model.\n- That long-term equilibrium path is consistent with a current account deficit of about 2 percent of GDP.\n- The paper describes the evolution of trade competitiveness and evaluates the divergence from equilibrium of the real effective exchange rate."
    },
    {
      "heading": "Analysis and themes covered",
      "content": "- Assessment of prospects for the Salvadoran economy in facing new challenges from reinsertion into the global economy.\n- Detailed description of trade competitiveness evolution.\n- Evaluation of divergence of the real effective exchange rate from its equilibrium value using a long-term equilibrium exchange rate framework."
    },
    {
      "heading": "Subject areas and keywords (as listed)",
      "content": "- Subjects: Balance of payments; Exchange rates; Foreign exchange; Outward remittances; Production; Real effective exchange rates; Remittances; Total factor productivity.\n- Keywords: accumulated exchange rate appreciation; Central America; CR; emigration data; equilibrium exchange rate; Exchange rates; Global; INSEPRO incident; ISCR; maquila export; Outward remittances; private sector investment; Real effective exchange rates; Remittances; remittances model; Total factor productivity; trade competitiveness; Western Hemisphere.\n\nSource: \"El Salvador: Recent Economic Developments\", IMF Staff Country Reports, May 29, 1998.\n\n---\n\n Content in this bundle\n\n- El Salvador: Recent Economic Developments - ISCR/98/32\n  - El Salvador: Recent Economic Developments - ISCR/98/32 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - El Salvador: Recent Economic Developments - ISCR/98/32 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: May 29, 1998",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451834703.002",
    "Timeframe analyzed: 1990–97.",
    "Purpose: Assess economic developments in El Salvador during 1990–97 and prospects as the economy reinserts into the global economy.",
    "Core focus areas: evolution of trade competitiveness; divergence from equilibrium of the real effective exchange rate; implications for the current account.",
    "The exchange rate behavior in the last decade appears to have followed roughly the path predicted by a long-term equilibrium exchange rate model.",
    "That long-term equilibrium path is consistent with a current account deficit of about 2 percent of GDP.",
    "The paper describes the evolution of trade competitiveness and evaluates the divergence from equilibrium of the real effective exchange rate.",
    "Assessment of prospects for the Salvadoran economy in facing new challenges from reinsertion into the global economy.",
    "Detailed description of trade competitiveness evolution.",
    "Evaluation of divergence of the real effective exchange rate from its equilibrium value using a long-term equilibrium exchange rate framework.",
    "Subjects: Balance of payments; Exchange rates; Foreign exchange; Outward remittances; Production; Real effective exchange rates; Remittances; Total factor productivity.",
    "Keywords: accumulated exchange rate appreciation; Central America; CR; emigration data; equilibrium exchange rate; Exchange rates; Global; INSEPRO incident; ISCR; maquila export; Outward remittances; private sector investment; Real effective exchange rates; Remittances; remittances model; Total factor productivity; trade competitiveness; Western Hemisphere.",
    "**El Salvador: Recent Economic Developments - ISCR/98/32**"
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