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Real Exchange Rates, Commodity Prices and Structural Factors in Developing Countries

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  • Vincent BODART

    ()
    (UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES))

  • Bertrand CANDELON

    ()
    (University of Maastricht, Department of Economics)

  • Jean-François CARPANTIER

    ()
    (UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES) and Center for Operations Research and Econometrics (CORE))

Abstract

This paper provides new empirical evidence about the relationship that may exist between real exchange rates and commodity prices in developing countries that are specialized in the export of a main primary commodity. It investigates how structural factors like the exchange rate regime, the degree of financial and trade openness, the degree of export concentration and the type of the commodity exports affect the strength of the commodity price-real exchange rate dependence.

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Bibliographic Info

Paper provided by Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) in its series Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) with number 2011045.

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Length: 30
Date of creation: 02 Dec 2011
Date of revision:
Handle: RePEc:ctl:louvir:2011045

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Web page: http://www.uclouvain.be/ires
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Keywords: Real exchange rates; commodity prices; exchange rate regime; financial openness; panel analysis;

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