| Author(s) | Conclusion |
| | By examining ninety-five developing countries (exchange rate misalignment and growth) was found negative relation. |
| | By examining fifty-one countries (exchange rate overvaluation and growth) was found negative relationship. |
| | The undervaluation of the currency, especially for developing countries is crucial for their growth, due to the inferior quality of institutions of these countries. |
| | They found that countries with higher volatility have lower growth rate. |
| | They found that there is a negative effect of over-valuations to growth, but high under-valuations (not very high) help economic growth. |
| | The stability of the exchange rate has a positive outcome on growth because provides more trade and capital inflows. |
| | By conducting a sample of sixty countries found a negative and significant relationship between the real exchange rate misalignment and growth. |
| | He points out that the stability and the average level of the real exchange rate is crucial for growth. |
| | By doing cross-country analysis didn’t verify the positive effect of undervaluation on growth. |
| | They found that the economic growth can boost faster when the exchange rate is stable than when the exchange rate is misaligned. |
| | They mention that the real effective exchange rate volatility is negatively associated with economic growth. |
| | They state that the impact of highly-volatile exchange rate has negative effects on economic growth. |
| | A moderately fluctuated exchange rate has positive effects on economic growth. |
| | They mention that a moderately fluctuated exchange rate has positive effects on the economic growth. |
| | They say that the overvaluation of exchange rate (appreciation) has harmful effects on the growth. |
| | They state that the different types of regimes, do not have considerably different effects on the growth of advanced economies. In contrast, the real exchange rate and economic growth have normally had a positive relationship in developing countries. |