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Exchange Rate Misalignments, Foreign Direct Investment and Industrial Performance in Sub-Saharan Africa
[Désalignements du taux de change, investissements directs étrangers et performances industrielles en Afrique sub-saharienne]

Author

Listed:
  • Kirsi Zongo

    (Université Norbert ZONGO de Koudougou)

  • Mahamadou Diarra

    (Université Norbert ZONGO de Koudougou)

Abstract

Cet article a pour objectif d'analyser les effets des désalignements du taux de change sur les performances industrielles des économies d'Afrique Sub-saharienne en montrant que les IDE pourraient constituer un canal par lequel transitent ces effets. Pour ce faire, le modèle comportemental du taux de change d'équilibre a été utilisé dans la détermination du taux change d'équilibre ainsi que ses désalignements à l'aide de la technique ARDL en panel. Ensuite, le modèle structurel de petite économie ouverte à deux secteurs d'activités a été utilisé pour établir les relations entre taux de change, IDE et performances industrielles. Le modèle GMM en système a permis d'élucider la relation entre désalignement du taux de change et IDE tandis que l'économétrie spatiale a servis d'analyser les effets spatiaux de l'interaction entre ces deux variables sur les performances industrielles des économies d'ASS. Il ressort des estimations que la sous-évaluation du taux de change favorise l'entrée des IDE dans les économies d'ASS et que l'interaction entre ces deux variables améliore les performances industrielles des économies de cette zone. L'article préconise alors l'adoption des sous-évaluations du taux de change ; l'amélioration du climat des affaires pour favoriser l'entrée massive des IDE.

Suggested Citation

  • Kirsi Zongo & Mahamadou Diarra, 2022. "Exchange Rate Misalignments, Foreign Direct Investment and Industrial Performance in Sub-Saharan Africa [Désalignements du taux de change, investissements directs étrangers et performances industri," Working Papers hal-03649887, HAL.
    • Handle: RePEc:hal:wpaper:hal-03649887
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    Keywords

    Taux de change; sous-évaluation; performances industrielles; économétrie spatiale; Afrique Sub-saharienne;
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