Kuikeu, Oscar (2012): Estimating the Real Exchange Rate Misalignment : case of the cfa franc zone.
Download (209kB) | Preview
In cfa franc zone, the exchange rate was devalued, in 1994, in order to deal with the major macroeconomic imbalances that have affected the members during the 1980 decade. Thus, the aim of this paper is to know if this devaluation was relevant, and, in the sense that the devaluation is relevant only if the real exchange rate is overvalued, we will assess the degree of the real exchange rate misalignment in the cfa franc zone.
|Item Type:||MPRA Paper|
|Original Title:||Estimating the Real Exchange Rate Misalignment : case of the cfa franc zone|
|English Title:||Estimating the Real Exchange Rate Misalignment : case of the cfa franc zone|
|Keywords:||equilibrium real exchange rate, cfa franc zone|
|Subjects:||C - Mathematical and Quantitative Methods > C3 - Multiple or Simultaneous Equation Models ; Multiple Variables > C33 - Panel Data Models ; Spatio-temporal Models
F - International Economics > F3 - International Finance > F31 - Foreign Exchange
|Depositing User:||Oscar KUIKEU|
|Date Deposited:||23. Jun 2012 07:00|
|Last Modified:||21. Feb 2013 16:45|
Baffes, J., Elbadawi, I. and O’Connel, S. (1999) ‘Single equation estimation of the equilibrium real exchange rate’, in Exchange rate misalignment : concepts and measurement for developing countries, L. Hinkle et P. Montiel (eds), World Bank Research Publication.
Clark, P. and MacDonald, R. (1998) ‘Exchange rate and economic fundamentals – A methodological comparison of BEERs and FEERs’, IMF Working Papers, No. 98/67, International Monetary Fund.
Devarajan, S. (1997) ‘Real exchange rate misalignment in the CFA zone’, Journal of African Economies, vol. 6, No. 3, March, 35 – 53.
Edwards, S. (1989) Real exchange rates, Devaluation and adjustment : Exchange rate policy in developing countries, MIT Press, Cambridge, Massachussetts.
Elbadawi, I. and R. Soto (1997) ‘Real exchange rates and macroeconomic adjustment in Sub – Saharan Africa and other developing countries’, Journal of African Economies, vol. 6, No. 3, October, 1 – 56.
Kamel, N.M. and M.A. Véganzones (2002) ‘Exchange rate regime and competitiveness of manufactured exports, the case of MENA countries’, MENA Working Paper Series, No. 27.
R. MacDonald (1997) ‘What determines real exchange rates ? The long and short of it’, IMF Working Paper, No. 97/21, International Monetary Fund.
Montiel, P.J. (1999) ‘Determinants of the long – run equilibrium real exchange rate : An analytical model’ in Exchange rate misalignment :Concepts ad measurement for developing countries, L. Hinkle and P. Montiel (eds), World Bank Research Publication.
Nurkse, R. (1945) ‘Conditions of international monetary equilibrium’ in Essays in International Finance 4, Princeton University Press, International Finance Section, New Jersey, USA.
Ondo Ossa, A. (1992) ‘ Taux de change du franc cfa et construction européenne ’, Monde en Développement, No. 77 – 78, tome XX, 59 – 74.
Sekkat, K. and Varoudakis, A. (1998) ‘Exchange rate management and manufactured exports in Sub – Saharan Africa’, OCDE Development Centre Technical Paper, No. 134.
Available Versions of this Item
- Estimating the Real Exchange Rate Misalignment : case of the cfa franc zone. (deposited 23. Jun 2012 07:00) [Currently Displayed]