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Foreign Aid Flows And Real Exchange Rate: Evidence From Syria

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Author Info

  • H. Issa

    (Damascus University)

  • B. Ouattara

    ()
    (Economics Department, University of Wales Swansea)

Abstract

This paper uses time series data from Syria for the period 1965 to 1997 to test the aid and ¡°Dutch disease¡± hypothesis. We employ the relatively new approach to cointegration, known as the Auto Regressive Distributed Lag (ARDL) approach. We find no support for this hypothesis neither in the long run nor in the short run. On the contrary, our results indicate that foreign aid flows are associated with depreciation of the real exchange rate. The main policy implication, based on the long run results, is that Syria can continue to receive aid without fears of impairing its export competitiveness.

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Bibliographic Info

Article provided by Chung-Ang Unviersity, Department of Economics in its journal Journal Of Economic Development.

Volume (Year): 33 (2008)
Issue (Month): 1 (June)
Pages: 133-146

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Handle: RePEc:jed:journl:v:33:y:2008:i:1:p:133-146

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Related research

Keywords: Aid Flows; Dutch Disease; Real Exchange Rate; Cointegration; Error Correction; Syria;

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Cited by:
  1. Pedro M. G. Martins, 2010. "Do Capital Inflows Hinder Competitiveness? The Real Exchange Rate in Ethiopia," Working Paper Series 1110, Department of Economics, University of Sussex.
  2. Andrew Berg & Rafael A Portillo & Luis-Felipe Zanna, 2014. "Policy Responses to Aid Surges in Countries with Limited International Capital Mobility: The Role of the Exchange Rate Regime," IMF Working Papers 14/18, International Monetary Fund.
  3. Farid MAKHLOUF & Mazhar MUGHAL, 2011. "Remittances, Dutch Disease, and Competitiveness - A Bayesian Analysis," Working Papers 2011-2012_1, CATT - UPPA - Université de Pau et des Pays de l'Adour, revised Dec 2011.
  4. Addison, Tony & Baliamoune-Lutz, Mina N., 2013. "Aid and Dutch Disease: Evidence from Moroccan and Tunisian time-series data," Working Paper Series UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER).
  5. Pedro M G Martins, . "Capital Inflows Hinder Competitiveness? The Real Exchange Rate in Ethiopia," Discussion Papers 10/07, University of Nottingham, CREDIT.

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