Como se define a taxa de câmbio de equilíbrio ou competitiva? E por que a taxa de câmbio é determinante do desenvolvimento?

Luiz Carlos Bresser-Pereira

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Note defining the concept of competitive exchange rate, summarizing the theory that makes the exchange rate determinant of investment and growth, and explaining why New Developmentalism was able to arrive at this idea while other schools of thought did not; because only this school affirms that the exchange rate tends to remain appreciable in the long run in developing countries.
   

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