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real exchangeexchange raterate dynamicsdynamics presencegoods transactiontransaction costsfinancial liberalizationliberalization crisescrises economiceconomic growthpurchasing power paritynicht handelbare güternon tradablesoffene volkswirtschaftopen economyfinancial market regulationfinancial crisispanel studyprobit modellprobit model1980 1999comparative staticsstatics entryentry marketsmarkets demanddemand complementaritiescomplementarities impactimpact incentiveincentive regulationregulation productivityproductivity telecommunicationstelecommunications industryindustry stochasticstochastic frontierfrontier approachapproach realpresence nonnon tradedtraded goodscosts realpresence nontradednontraded goodscosts financialgrowth financialgrowthmarket entrytechnische effizienztechnical efficiency
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