20.500.12556/RUL-117597 The impact of the exchange rate on the foreign trade imbalance during the economic crisis in the new EU member states and the Western Balkan countries This paper examines the relationship between the real exchange rate and the foreign trade imbalance in both the Western Balkan (WB) and Central and Eastern European (CEE) countries. During the most recent global economic crisis, examining the impact of the exchange rate on the balance of trade took on a particular importance. Countries used a variety of monetary policy regimes and, depending on their choice, they had different economic instruments available to deal with the crisis. The aim of the research was whether exchange rate devaluation and/or depreciation are capable of effectively and fully eliminating the negative effects of the global economic crisis, as well as the consequent poor export performance and contracted economic activity. Our findings show that during an economic crisis those countries that use their own currency cannot substantially adjust their trade deficit by depreciating their currency. Moreover, it is suggested that during the global economic crisis, the balance of payments deficit is not impacted significantly by the exchange rate, any more. In such cases, other factors play a more significant role, like as government spending, followed by foreign demand and direct investments. exchange rate trade balance economy crises budget deficit Balkans Central and Eastern Europe devizni tečaji trgovinska bilanca gospodarstvo krize proračunski primanjkljaj Balkan Srednja in Vzhodna Evropa true false false Angleški jezik Slovenski jezik Članek v reviji 2020-07-17 11:34:50 2020-07-17 11:37:12 2022-08-29 03:44:23 0000-00-00 00:00:00 2020 0 0 Str. 182-203 no. 1 Vol. 33 2020 0000-00-00 Zaloznikova NiDoloceno NiDoloceno 0000-00-00 0000-00-00 0000-00-00 336.748:339:5 1331-677X 10.1080/1331677X.2019.1708771 1956494 6796877 RAZ_Rajkovic_Milos_2020.pdf RAZ_Rajkovic_Milos_2020.pdf 1 09702ACCD0068EDA7C70AF893ADD3F18 7237e681f0319fd0117dae2622300e8d92e3ab602d0207e4b21a08178f7de4d6 379f4941-a1b9-11eb-a523-00155dcfd717 https://repozitorij.uni-lj.si/Dokument.php?lang=slv&id=131478 Ekonomska fakulteta 0 0 0