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Viability of Keeping a Fixed Exchange Rate in an Oil Exporting Country: Some Results for Libya from a Computable General Equilibrium Model

Listed author(s):
  • Dewhurst John

    (University of Dundee)

  • Kerwat Jamal

    (University of Dundee)

  • Molana Hassan

    (University of Dundee)

We use the CGE analysis to provide an assessment of the way an oil exporting LDC is affected by a positive exogenous shock due to the rise in the price of oil. Our main purpose is to examine how the effects differ under fixed and flexible exchange rate regimes; it is desirable, from a short-run policy point of view, if a situation could be identified in which the benefits accrued from the higher oil price lead to a rise in households' and government's consumption as well as to a considerably higher level of investment.

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File URL: https://www.degruyter.com/view/j/rmeef.2010.5.3/rmeef.2010.5.3.1249/rmeef.2010.5.3.1249.xml?format=INT
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Article provided by De Gruyter in its journal Review of Middle East Economics and Finance.

Volume (Year): 5 (2010)
Issue (Month): 3 (February)
Pages: 24-45

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Handle: RePEc:bpj:rmeecf:v:5:y:2010:i:3:n:2
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  1. De Santis, Roberto A., 2003. "Crude oil price fluctuations and Saudi Arabia's behaviour," Energy Economics, Elsevier, vol. 25(2), pages 155-173, March.
  2. Edwards, Sebastian, 1989. "Exchange Controls, Devaluations, and Real Exchange Rates: The Latin American Experience," Economic Development and Cultural Change, University of Chicago Press, vol. 37(3), pages 457-494, April.
  3. Lewis, Jeffrey D., 1992. "Financial repression and liberalization in a general equilibrium model with financial markets," Journal of Policy Modeling, Elsevier, vol. 14(2), pages 135-166, April.
  4. Krugman, Paul & Taylor, Lance, 1978. "Contractionary effects of devaluation," Journal of International Economics, Elsevier, vol. 8(3), pages 445-456, August.
  5. Thomas, Marcelle & Bautista, Romeo M., 1999. "A 1991 social accounting matrix (SAM) for Zimbabwe:," TMD discussion papers 36, International Food Policy Research Institute (IFPRI).
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