This file is part of IDEAS, which uses RePEc data


[ Papers | Articles | Software | Books | Chapters | Authors | Institutions | JEL Classification | NEP reports | Search | New papers by email | Author registration | Rankings | Volunteers | FAQ | Blog | Help! ]

Exchange-Rate Management and Manufactured Exports in Sub-Saharan Africa

Author info | Abstract | Publisher info | Download info | Related research | Statistics
Author Info
Khalid Sekkat
Aristomène Varoudakis

Additional information is available for the following registered author(s):

Abstract

This paper presents an overview of the evolution of exchange-rate regimes in Africa and then attempts to assess empirically the impact of exchange-rate policy on manufactured export performance on a panel of major Sub-Saharan Africa countries over the 1970-92 period. We examine the impact of three exchange-rate policy indicators: real effective exchangerate changes, real exchange-rate volatility, and (model-based measures of) real exchange-rate misalignment. Export supply functions are estimated for three manufacturing industries (textile, chemicals, and metals) and two exchange-rate regimes: a fixed rates regime including six CFA Franc countries, and a more flexible regime represented by five non-CFA countries. Our findings show that exchange-rate management matters for export performance. This is evidenced both by the significant impact of changes in the real effective exchange rate and by the negative influence exerted independently by real exchange-rate misalignment. On the ...


L’évolution des régimes de change en Afrique entre 1970 et 1992 est examinée dans ce document. Les effets de la politique de change sur les exportations de produits manufacturés de l’Afrique sub-saharienne sont également examinés de manière empirique. Trois indicateurs de la politique de change sont plus particulièrement étudiés: les variations du taux de change réel effectif, la volatilité du taux de change réel et son défaut d’alignement (mesuré à partir d’un modèle). Des fonctions d’exportation ont été estimées pour trois branches de l’industrie manufacturière (textile, chimie, métallurgie), ainsi que deux régimes de change: un régime de taux de change fixes, représenté par six pays de la zone CFA, et un second, plus flexible, représenté par cinq pays n’appartenant pas à cette zone. Il en ressort que la politique de change influe largement sur les performances à l’exportation du fait des conséquences importantes des variations du taux de change réel effectif et de l’incidence ...

Download Info
To download:

If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://dx.doi.org/10.1787/211147404816
File Format: text/html
File Function:
Download Restriction: no

Publisher Info
Paper provided by OECD, Development Centre in its series OECD Development Centre Working Papers with number 134.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length:
Date of creation: Mar 1998
Date of revision:
Handle: RePEc:oec:devaaa:134-en

Contact details of provider:
Postal: 2 rue Andre Pascal, 75775 Paris Cedex 16
Email:
Web page: http://www.oecd.org/Dev
More information through EDIRC

For technical questions regarding this item, or to correct its listing, contact: ().

Related research
Keywords:

Other versions of this item:

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)
  1. Turan Subasat, 2008. "Exchange Rate Policies: Fact or Fiction in the Rise of High Performance Asian Economies," Working Papers 0802, Izmir University of Economics. [Downloadable!]
  2. Babacar XSENE, 2005. "Impact du fardeau virtuel de la dette sur le taux de change réel d'équilibre des pays en développement," Macroeconomics 0501014, EconWPA. [Downloadable!]
  3. Thierry Tressel & Alessandro Prati, 2006. "Aid Volatility and Dutch Disease: Is There a Role for Macroeconomic Policies?," IMF Working Papers 06/145, International Monetary Fund. [Downloadable!]
  4. Jan P. Voon & Li Guangzhong & Jimmy Ran, 2006. "Does China really lose from RMB revaluation? Evidence from some export industries," Applied Economics, Taylor and Francis Journals, vol. 38(15), pages 1715-1723, August. [Downloadable!] (restricted)
  5. Elbadawi, Ibrahim A., 1999. "Can Africa export manufactures? The role of endowment, exchange rates, and transaction costs," Policy Research Working Paper Series 2120, The World Bank. [Downloadable!]
  6. Jean-Claude Berthelemy & Ludvig Söderling, 1999. "The Role of the Capital Accumulation, Adjustment and Structural Change for Economic Take-Off : Empirical Evidence from African Growth Episodes," Working Papers 1999-07, CEPII research center. [Downloadable!]
  7. Francesco Menoncin & Marco Tronzano, . "Optimal real exchange rate targeting: a stochastic analysis," Working Papers ubs0401, University of Brescia, Department of Economics. [Downloadable!]
  8. Pierre-Guillaume Méon & Khalid Sekkat, 2006. "Institutional quality and trade: which institutions? which trade?," Working Papers DULBEA 06-06.RS, Université libre de Bruxelles, Department of Applied Economics (DULBEA). [Downloadable!]
    Other versions:
  9. Floribert Ngaruko, 2003. "Agricultural Export Performance in Africa: Elements of comparison with Asia," Working Papers 03-09, Agricultural and Development Economics Division of the Food and Agriculture Organization of the United Nations (FAO - ESA). [Downloadable!]
  10. Carlo Maria Rossotto & Khalid Sekkat & Aristomene Varoudakis, 2005. "Opening up telecommunications to competition and MENA integration in the world economy," Journal of International Development, John Wiley & Sons, Ltd., vol. 17(7), pages 931-955. [Downloadable!]
  11. John Serieux, 2007. "Managing the Exchange Rate Consequences of an MDG-Related Scale-up in HIV/AIDS Financing," Conference Paper 1, International Policy Centre for Inclusive Growth. [Downloadable!]
  12. Cristina Arellano & Aleš Bulir & Timothy D. Lane & Leslie Lipschitz, 2005. "The Dynamic Implications of Foreign Aid and Its Variability," IMF Working Papers 05/119, International Monetary Fund. [Downloadable!]
    Other versions:
  13. Mahvash Saeed Qureshi, 2008. "Africa's Oil Abundance and External Competitiveness: Do Institutions Matter?," IMF Working Papers 08/172, International Monetary Fund. [Downloadable!]
  14. Achy, Lahcen, 2001. "Equilibrium exchange rate and misalignment In selected MENA countries," MPRA Paper 4799, University Library of Munich, Germany, revised 2001. [Downloadable!]
  15. Zafar, Ali, 2005. "The impact of the strong euro on the real effective exchange rates of the two Francophone African CFA Zones," Policy Research Working Paper Series 3751, The World Bank. [Downloadable!]
  16. Shatz, Howard J. & Tarr, David G., 2000. "Exchange rate overvaluation and trade protection - lessons from experience," Policy Research Working Paper Series 2289, The World Bank. [Downloadable!]
Statistics
Access and download statistics

Did you know? You can use IDEAS to provide links to papers and articles in your course syllabus.

This page was last updated on 2009-11-19.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.