Euro / dollar : quelle stratégie de change pour la Tunisie ?
AbstractTunisia makes 70% of its trade with euro zone. So, pegging to euro seems to be a suitable exchange rate policy. Giving that its external debt is denominated at the rate of 45% in US dollar, 30% in euros and 10% in Japanese yen, this policy may be painful if the dollar appreciates, because debt will be more expensive. The aim of this paper is to know if Tunisian authorities take into account of the external financing constraint in making their exchange policy. If it is so, is it suitable to peg to euro? For this purpose, we compared the actually exchange rate policy to the one that should be in targeting both competitiveness and external financing constraint. JEL Classification: F31; F37; O24.
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Bibliographic InfoArticle provided by Presses de Sciences-Po in its journal Revue de l'OFCE.
Volume (Year): n° 108 (2009)
Issue (Month): 1 ()
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Web page: http://www.cairn.info/revue-de-l-ofce.htm
competitiveness; debt denomination; tunisian dinar; optimal peg;
Find related papers by JEL classification:
- O24 - Economic Development, Technological Change, and Growth - - Development Planning and Policy - - - Trade Policy; Factor Movement; Foreign Exchange Policy
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- Fatma Marrakchi Charfi, 2013. "Capital Flows, Real Exchange Rates, and Capital Controls: What Is the Scope of Liberalization for Tunisia?," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 60(4), pages 515-540, June.
- Samia Omrane, 2012. "An Analysis of Exchange Rate Risk Exposure Related to the Public Debt Portfolio of Tunisia: Beyond VaR Approach," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 59(1), pages 59-87, March.
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