The impact of real exchange rate changes on South African agricultural exports: An error correction model approach
This study evaluates the long run and short run effects of real exchange rate changes on South African agricultural exports using an Error Correction Model (ECM). The results suggest that there is a unidirectional causal flow from exchange rate to agricultural exports. Moreover, appreciation of the Rand will be detrimental to agricultural exports.
References listed on IDEAS
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- Pick, Daniel H & Vollrath, Thomas L, 1994. "Real Exchange Rate Misalignment and Agricultural Export Performance in Developing Countries," Economic Development and Cultural Change, University of Chicago Press, vol. 42(3), pages 555-71, April.
- Chambers, Robert G. & Just, Richard E., 1982. "An investigation of the effect of monetary factors on agriculture," Journal of Monetary Economics, Elsevier, vol. 9(2), pages 235-247.
- Baillie, Richard T & Bollerslev, Tim, 1989. " Common Stochastic Trends in a System of Exchange Rates," Journal of Finance, American Finance Association, vol. 44(1), pages 167-81, March.
- Dolado, Juan J & Jenkinson, Tim & Sosvilla-Rivero, Simon, 1990. " Cointegration and Unit Roots," Journal of Economic Surveys, Wiley Blackwell, vol. 4(3), pages 249-73.
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