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Estimating the Equilibrium Real Exchange Rate for Namibia

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Author Info

  • J. H. Eita

    ()
    (Department of Economics, University of Pretoria)

  • Moses M. Sichei

    (Department of Economics, University of Pretoria)

Abstract

This paper estimates the equilibrium real exchange rate and the resulting real exchange rate misalignment in Namibia during the period 1970 to 2004. The equilibrium real exchange rate is determined by trade and exchange restrictions (openness), terms of trade and ratio of investment to GDP. An increase in openness and ratio of investment to GDP cause the real exchange rate to appreciate. The real exchange rate was overvalued for almost the entire estimation period. It reached its equilibrium value in 1998. It is important to monitor the real exchange rate, and ensure that the divergence from the equilibrium value is minimised.

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Bibliographic Info

Paper provided by University of Pretoria, Department of Economics in its series Working Papers with number 200608.

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Length: 17 pages
Date of creation: Feb 2006
Date of revision:
Handle: RePEc:pre:wpaper:200608

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Related research

Keywords: equilibrium real exchange rate; misalignment; cointegrating vector;

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Cited by:
  1. Sengül Dagdeviren & Ayla Ogu? Binatli & Niloufer Sohrabji, 2012. "Misalignment Under Different Exchange Rate Regimes: the Case of Turkey," Economie Internationale, CEPII research center, issue 130, pages 81-98.
  2. Ken Miyajima, 2007. "What Do We Know About Namibia's Competitiveness," IMF Working Papers 07/191, International Monetary Fund.
  3. World Bank, 2008. "Republic of Namibia - Addressing Binding Constraints to Stimulate Broad Based Growth : A Country Economic Report," World Bank Other Operational Studies 12601, The World Bank.

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