The determinants of the real exchange rate in Zambia
AbstractThis paper attempts to explain the movements of Zambia’s real effective exchange rate using a vector error correction model and quarterly time series data between 1973 and 1997. The study results are similar to most studies about the nature of the determinants of the real exchange rate. Through the use of purchasing power parity tests, impulse response and variance decomposition functions, the study indicates that Zambia’s real effective exchange rate depends significantly on the prevailing real fundamentals, price differentials and real shocks.
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Bibliographic InfoPaper provided by African Economic Research Consortium in its series Research Papers with number RP_146.
Length: 52 pages
Date of creation: Dec 2004
Date of revision:
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