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Can African Countries Achieve Long‐Run Real Exchange Rate Depreciation Through Nominal Exchange Rate Depreciation?

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  • MARK J. HOLMES

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  • Mark J. Holmes, 2004. "Can African Countries Achieve Long‐Run Real Exchange Rate Depreciation Through Nominal Exchange Rate Depreciation?," South African Journal of Economics, Economic Society of South Africa, vol. 72(2), pages 305-323, June.
  • Handle: RePEc:bla:sajeco:v:72:y:2004:i:2:p:305-323
    DOI: 10.1111/j.1813-6982.2004.tb00114.x
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    File URL: https://doi.org/10.1111/j.1813-6982.2004.tb00114.x
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    1. Peter Liu, 1992. "Purchasing power parity in Latin America: A co-integration analysis," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 128(4), pages 662-680, December.
    2. Akhand A. Hossain & Anis Chowdhury, 1998. "Open-Economy Macroeconomics for Developing Countries," Books, Edward Elgar Publishing, number 831.
    3. McNelis, Paul D., 1987. "Indexing, exchange rate policy and inflationary feedback effects in Latin America," World Development, Elsevier, vol. 15(8), pages 1107-1117, August.
    4. Connolly, Michael & Taylor, Dean, 1976. "Adjustment to devaluation with money and nontraded goods," Journal of International Economics, Elsevier, vol. 6(3), pages 289-298, August.
    5. Rana, Pradumna B & Dowling, J Malcolm, Jr, 1985. "Inflationary Effects of Small but Continuous Changes in Effective Exchange Rates: Nine Asian LDCs," The Review of Economics and Statistics, MIT Press, vol. 67(3), pages 496-500, August.
    6. Nagayasu, Jun, 2002. "Does the Long-Run PPP Hypothesis Hold for Africa? Evidence from a Panel Cointegration Study," Bulletin of Economic Research, Wiley Blackwell, vol. 54(2), pages 181-187, April.
    7. Breuer, Janice Boucher & McNown, Robert & Wallace, Myles, 2002. " Series-Specific Unit Root Tests with Panel Data," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 64(5), pages 527-546, December.
    8. Alba, Joseph D. & Papell, David H., 1998. "Exchange rate determination and inflation in Southeast Asian countries," Journal of Development Economics, Elsevier, vol. 55(2), pages 421-437, April.
    9. Bahmani-Oskooee, Mohsen & Miteza, Ilir, 2002. "Do nominal devaluations lead to real devaluations in LDCs?," Economics Letters, Elsevier, vol. 74(3), pages 385-391, February.
    10. Pesaran, M. H. & Shin, Y. & Smith, R. J., 1996. "Testing for the 'Existence of a Long-run Relationship'," Cambridge Working Papers in Economics 9622, Faculty of Economics, University of Cambridge.
    11. Peter C. B. Phillips & Bruce E. Hansen, 1990. "Statistical Inference in Instrumental Variables Regression with I(1) Processes," Review of Economic Studies, Oxford University Press, vol. 57(1), pages 99-125.
    12. Bahmani-Oskooee, Mohsen, 1993. "Purchasing power parity based on effective exchange rate and cointegration: 25 LDCs' experience with its absolute formulation," World Development, Elsevier, vol. 21(6), pages 1023-1031, June.
    13. Romeo Bautista, 1981. "Exchange rate changes and LDC export performance under generalized currency floating," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 117(3), pages 443-468, September.
    14. Mahdavi, Saeid & Zhou, Su, 1994. "Purchasing power parity in high-inflation countries: further evidence," Journal of Macroeconomics, Elsevier, vol. 16(3), pages 403-422.
    15. Peter Pedroni, 2001. "Purchasing Power Parity Tests In Cointegrated Panels," The Review of Economics and Statistics, MIT Press, vol. 83(4), pages 727-731, November.
    16. Holmes, Mark J., 2001. "New Evidence on Real Exchange Rate Stationarity and Purchasing Power Parity in Less Developed Countries," Journal of Macroeconomics, Elsevier, vol. 23(4), pages 601-614, October.
    17. Pedroni, Peter, 1999. " Critical Values for Cointegration Tests in Heterogeneous Panels with Multiple Regressors," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 61(0), pages 653-670, Special I.
    18. Morgan, Theodore & Davis, Albert, 1982. "The Concomitants of Exchange-Rate Depreciation: Less Developed Countries, 1971-1973," Economic Development and Cultural Change, University of Chicago Press, vol. 31(1), pages 101-129, October.
    19. Taylor, Mark P. & Sarno, Lucio, 1998. "The behavior of real exchange rates during the post-Bretton Woods period," Journal of International Economics, Elsevier, vol. 46(2), pages 281-312, December.
    20. McNown, Robert & S. Wallace, Myles, 1989. "National price levels, purchasing power parity, and cointegration: a test of four high inflation economies," Journal of International Money and Finance, Elsevier, vol. 8(4), pages 533-545, December.
    21. Connolly, Michael B & Taylor, Dean G, 1979. "Exchange Rate Changes and Neutralization: A Test of the Monetary Approach Applied to Developed and Developing Countries," Economica, London School of Economics and Political Science, vol. 46(183), pages 281-294, August.
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    Cited by:

    1. Phouphet Kyophilavong & Muhammad Shahbaz & Gazi Salah Uddin, 2015. "A Note on Nominal and Real Devaluation in Laos," Global Business Review, International Management Institute, vol. 16(2), pages 236-243, April.
    2. Muhammad Nasir & Wasim Malik, 2011. "Structural Decomposition of Exchange Rate Shocks in Pakistan: An Empirical Investigation using SVAR Methodology," Transition Studies Review, Springer;Central Eastern European University Network (CEEUN), vol. 18(1), pages 124-138, September.
    3. Salah A Nusair, 2017. "On the Nominal and Real Currency Devaluation Nexus in European Transition Economies," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 43(4), pages 677-698, September.
    4. Muhammad SHAHBAZ, 2009. "On Nominal and Real Devaluations Relation: An Econometric Evidence for Pakistan," International Journal of Applied Econometrics and Quantitative Studies, Euro-American Association of Economic Development, vol. 9(1).
    5. Bahmani-Oskooee, Mohsen & Hegerty, Scott W. & Kutan, Ali M., 2008. "Do nominal devaluations lead to real devaluations? Evidence from 89 countries," International Review of Economics & Finance, Elsevier, vol. 17(4), pages 644-670, October.

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