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An Assessment of External Price Competitiveness for Mozambique

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  • Francis Vitek

Abstract

This paper conducts an assessment of external price competitiveness for Mozambique. A variety of indicators suggest that Mozambique has recently lost external price competitiveness with respect to its major trading partners. Consistent with these indicators, an exchange rate assessment indicates that the metical is overvalued by 26 to 41 percent in real effective terms. If sustained, an overvaluation of this magnitude has the potential to retard economic growth and jeopardize external stability, calling for an adjustment of monetary policy to gradually restore external price competitiveness.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 09/165.

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Length: 20
Date of creation: 01 Aug 2009
Date of revision:
Handle: RePEc:imf:imfwpa:09/165

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Related research

Keywords: Exchange rates; External sector; Price structures; Real effective exchange rates; Terms of trade; exchange rate; effective exchange rate; real effective exchange rate; current account balance; net foreign asset; foreign asset; foreign asset position; net foreign asset position; real exchange rate; nominal effective exchange rate; bilateral exchange rates; foreign exchange; nominal bilateral exchange rates; effective exchange rates; foreign exchange reserves; exchange reserves; net foreign assets; exchange rate dynamics; exchange rate data; foreign assets; fixed exchange rates; international investment; trade shocks; foreign asset positions;

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Cited by:
  1. Andersson, Per-Åke & Sjö, Bo, 2012. "Successful inflation targeting in Mozambique despite vulnerability to internal and external shocks," Working Papers in Economics 544, University of Gothenburg, Department of Economics.
  2. John C Bluedorn & Rupa Duttagupta & Jaime Guajardo & Nkunde Mwase, 2013. "The Growth Comeback in Developing Economies," IMF Working Papers 13/132, International Monetary Fund.
  3. Christoph Böhringer & Victoria Alexeeva-Talebi, 2011. "Unilateral climate policy and competitiveness: The implications of differential emission pricing," Working Papers V-338-11, University of Oldenburg, Department of Economics, revised Jun 2011.
  4. repec:old:wpaper:338 is not listed on IDEAS

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