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The Impact of Trade and Exchange‐rate Policy Reforms on North African Manufactured Exports

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  • Khalid Sekkat
  • Aristomene Varoudakis

Abstract

Three indicators capture the impact of exchange‐rate policy in fostering manufactured exports from North Africa: changes in the real effective exchange rate (REER), its volatility, and its misalignment. The impact of trade policy is examined using a trade liberalisation indicator. Export supply equations are estimated for three manufacturing industries: textiles, chemicals, and food. The results suggest that trade and exchange‐rate policies matter for export performance, as is evidenced by the negative influence exerted independently by real exchange‐rate misalignment and volatility and by the positive influence of trade liberalisation.

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  • Khalid Sekkat & Aristomene Varoudakis, 2002. "The Impact of Trade and Exchange‐rate Policy Reforms on North African Manufactured Exports," Development Policy Review, Overseas Development Institute, vol. 20(2), pages 177-189, May.
    • Handle: RePEc:bla:devpol:v:20:y:2002:i:2:p:177-189
    DOI: 10.1111/1467-7679.00164
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    Cited by:

    1. Azmat Gani & Biman Chand Prasad, 2006. "Institutional Quality and Trade in Pacific Island Countries," ARTNeT Working Papers 20, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).
    2. Pierre‐Guillaume Méon & Khalid Sekkat, 2004. "Does the Quality of Institutions Limit the MENA's Integration in the World Economy?," The World Economy, Wiley Blackwell, vol. 27(9), pages 1475-1498, September.
    3. Khalid Sekkat & Marie-Ange Veganzones, 2005. "Trade and foreign exchange liberalization, investment climate and FDI in the MENA," DULBEA Working Papers 05-06.RS, ULB -- Universite Libre de Bruxelles.
    4. David Kihangire, 2005. "The Effects Of Exchange Rate Variability On Exports: Evidence From Uganda (1988 – 2001)," International Trade 0505013, University Library of Munich, Germany.
    5. Mukesh Kumar & Azeema Begam & Nargis, 2020. "The Impact of Currency Depreciation on Exports of SAARC Countries," Asian Journal of Economic Modelling, Asian Economic and Social Society, vol. 8(1), pages 16-29, March.
    6. Azmat Gani & Biman Chand Prasad, 2006. "Institutional Quality and Trade in Pacific Island Countries," Working Papers 2006, Asia-Pacific Research and Training Network on Trade (ARTNeT), an initiative of UNESCAP and IDRC, Canada..
    7. Marie-Ange VEGANZONES-VAROUDAKIS & SEKKAT, 2004. "Trade and Foreign Exchange Liberalization,Investment Climate, and FDI in the MENA Countries," Working Papers 200430, CERDI.
    8. Christelle Meniago & Joel Hinaunye Eita, 2017. "Does Exchange Rate Volatility Deter Trade in Sub-Saharan Africa?," International Journal of Economics and Financial Issues, Econjournals, vol. 7(4), pages 62-69.
    9. Khalid Sekkat, 2012. "Manufactured Exports and FDI in the MED-11 Countries: Recent Evolution, Determinants and Prospects," CASE Network Studies and Analyses 432, CASE-Center for Social and Economic Research.
    10. Azmat Gani, 2015. "Oman’s Entry to the World Trade Organisation, Trade Liberalisation and Trade Achievements," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 43(1), pages 123-134, March.
    11. Hermassi Hela & Aloui Amel, 2016. "An Empirical Evaluation of the Sectoral Impact of International Trade on the Restructuring of the Production System: A Case Study of Tunisia," International Journal of Management Sciences, Research Academy of Social Sciences, vol. 7(6), pages 312-331.
    12. Philip O. Alege & Evans S. Osabuohien, 2015. "Trade-Exchange Rate Nexus in Sub-Saharan African Countries," Foreign Trade Review, , vol. 50(3), pages 151-167, August.

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