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Impact of Real Effective Rate on Export Competitiveness of German Manufacturing Industry

The goal of this research is to analyze the impact of the real effective exchange rate on Germanys manufacturing industry export activity. The research methodology is based on the implementation of the dynamic panel data analysis - two step GMM estimator. The subject of the research includes manufacturing of Germany and its major sectors and areas. For analytical purposes, comparisons of trends (real effective) exchange rate, the value of production, the share of exports in the imports and export activities of German manufacturing industry were also used. The main results of the research provide an answer about the significance of the impact of the real effective exchange rate on export competitiveness of German manufacturing industry in the period from 2000 until 2008 and coming up with recommendations, suggestions for reaching a higher level of export competitiveness. The main conclusion of the research is the need to create conditions and defining measures to increase export activities of German manufacturing.

German manufacturing industry, system GMM estimator, dynamic panel estimator, Export competitiveness, real effective exchange rate

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