El Salvador: Recent Economic Developments

May 29, 1998

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El Salvador: Recent Economic Developments, (USA: International Monetary Fund, 1998) accessed November 21, 2024

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. The paper describes the evolution of trade competitiveness and evaluates the divergence from equilibrium of the real effective exchange rate. It concludes that the exchange rate behavior in the last decade appears to have followed roughly the path predicted by a long-term equilibrium exchange rate model consistent with a current account deficit of about 2 percent of GDP.

Subject: 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

Publication Details

Pages:

108
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 1998/032
Stock No:

1SLVEA0011998
ISBN:

9781451834703
ISSN:

1934-7685

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