Exchange Rate Assessment for Sub-Saharan Economies
AbstractThis paper provides an exchange rate assessment for sub-Saharan African economies by using methodologies similar to those developed by the International Monetary Fund’s Consultative Group on Exchange Rate Issues. As in the World Economic Outlook (IMF, 2009a), the unbalanced panel dataset covers 182 countries from 1973 to 2014. We apply four methodologies to assess the fundamental exchange rate: macroeconomic balance, equilibrium real exchange rate, external sustainability, and purchasing power parity. Results show that the impact of macroeconomic fundamentals on the equilibrium real exchange rate is different for sub-Saharan African economies than for advanced and less advanced economies.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 10/162.
Date of creation: 01 Jul 2010
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This paper has been announced in the following NEP Reports:
- NEP-AFR-2010-07-31 (Africa)
- NEP-ALL-2010-07-31 (All new papers)
- NEP-CBA-2010-07-31 (Central Banking)
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- Cécile Couharde & Issiaka Coulibaly & Olivier Damette, 2011. "Misalignments and Dynamics of Real Exchange Rates in the CFA Franc Zone," EconomiX Working Papers 2011-28, University of Paris West - Nanterre la Défense, EconomiX.
- Jair Ojeda JOya & Jhon Edwar Torres, 2012. "Posición Externa de Largo Plazo y Tipo de Cambio Real de Equilibrio en Colombia," Borradores de Economia 745, Banco de la Republica de Colombia.
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- International Monetary Fund, 2011. "Oil-Price Boom and Real Exchange Rate Appreciation: Is There Dutch Disease in the CEMAC?," IMF Working Papers 11/268, International Monetary Fund.
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