Effects of a 10 Percent Real Depreciation on Growth of Nontraditional Sectors
(Percent)Sources: Organisation for Economic Co-operation and Development; and IMF staff calculations.Note: Time in years. Growth rates are weighted by the size of sectors. The export channel takes into account the domestic value added embedded in exports, hence partially controlling for the cost channel. EMDE = emerging market and developing economies; EMEA = Europe, Middle East, and Africa. For International Organization for Standardization (ISO) country codes used in data labels, see page 137.