THE PAKISTAN DEVELOPMENT REVIEW
A Note on the Effective Exchange Rate for Pakistan’s Manufactured Exports, 1968-1975
The role of relative prices in determining the export performance of developing countries is now well established. Studies by Kravis , Mo-Geehan  and others have found that price competitiveness is essential for maintaining a rapid rate of export growth in both developed and developing countries. For Pakistan, Husain  has shown that changes in export prices resulting from changes in the export bonus scheme had a significant effect on raising the level of manufactured exports over the 1960-1967 period.