20.500.12556/DKUM-15738 VPLIV BALASSA-SAMUELSONOVEGA UČINKA NA DEVIZNI TEČAJ NA POLJSKEM IMPACT OF BALASSA-SAMUELSON EFFECT ON EXCHANGE RATE IN POLAND Devizni tečaj je pomemben makroekonomski dejavnik, ki vpliva na konkurenčnost države v mednarodnem prostoru. S pomočjo njega država doseže zunanje ravnovesje, katere merilo je običajno uravnotežena plačilna bilanca. Cilj vsake države je, da hkrati doseže tudi notranje ravnovesje. Notranji makroekonomski dejavniki kot so inflacija, BDP, obrestna mera vplivajo na devizni tečaj. Kako vplivajo, je odvisno tudi od tega, v kateri fazi razvoja se določena država nahaja. Za države, ki so slabše razvite, so značilne višje stopnje rasti produktivnosti in višje stopnje rasti cen. Višje cene na domačem trgu vodijo do znižanja zunanje vrednosti denarja. Realne in nominalne spremembe deviznega tečaja niso enake, prav zaradi razlik v inflaciji med državami. Realno lahko devizni tečaj apreciira kljub nominalni depreciaciji. Eden izmed možnih razlogov v ekonomski teoriji je Balassa-Samuelsonov učinek, ki je bil podvržen številnim empiričnim raziskavam. Značilno je, da učinek bolj drži za države, ki so manj razvite, čeprav lahko na gibanje cen v določeni meri vpliva ne glede na stopnjo razvitosti, na kateri se nahajajo države. The exchange rate is an important macroeconomic factor, which influences the international competitiveness of a country. With its help a country achieves the external balance, which measure usually is the balance of payment. The goal of each country is to achieve the internal balance at the same time. The internal macroeconomic factors, which are the inflation, GDP, interest rate have an impact on the exchange rate. Their affect depends as well on that, in which phase of development each country is. For countries that are less developed, a higher rate of productivity growth and a higher rate of price growth is significant. Higher prices on the domestic market lead to a reduction of the external value of the money. Because of the differences in the inflation between the countries, the real and nominal exchange rate changes are not equal. Despite the nominal depreciation, the real exchange rate can appreciate. In the economic theory one of the possible reasons is the Balassa-Samuelson effect, which is the subject of many empirical studies. It is known that the effect is more typical for less developed countries, although to some extend it can have an impact on the price movements irrespectivly of the development level. nominalni devizni tečaj realni devizni tečaj efektivni devizni tečaj Balassa-Samuelson učinek Nominal exchange rate real exchange rate effective exchange rate Balassa-Samuelson effect true true false [M. Novak] Slovenski jezik Angleški jezik Delo diplomskega seminarja/zaključno seminarsko delo/naloga 2010-09-18 12:39:28 2011-01-26 09:03:45 2022-04-13 07:32:58 2023-12-19 03:29:24 2010 0 Maribor 0 0000-00-00 NiDoloceno NiDoloceno NiDoloceno 0000-00-00 0000-00-00 0000-00-00 336.748 10538012 URN:SI:UM:DK:VARTI73Y UNI_Novak_Manica_2010.pdf UNI_Novak_Manica_2010.pdf 1 54A71F6DCA30A9EBD7601CB14DA1B35D 267a3f83b874f90c885247ea19bad2937b110fd1c5c02a3656a1a8cbffdf655e 7861add2-7c04-11eb-bb7a-00155d0001ca 20.500.12556/dkum/67298545-b13b-4e67-af67-1bd8b38265f7 https://dk.um.si/Dokument.php?lang=slv&id=17533 Ekonomsko-poslovna fakulteta 0 0 0