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Exchange Rate Changes and Export Prices in a Small Semi-Open Economy

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  • Oluremi Ogun

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Abstract

This paper analyses the reaction of export prices to exchange rate changes in Nigeria. The major proposition examined in the study is that, exchange rate changes are not reflected fully in the prices of the country's exports. The analysis suggests that manufactured export firms in the country may have been price discriminating between domestic and export markets; only about 93% of exchange rate changes occurring in the period 1986 to 1995 is shown as reflected in the domestic price of manufactured export. However, this result is qualified by the fact that, over 75% of the data analysed were generated. Copyright Kluwer Academic Publishers 2000

Suggested Citation

  • Oluremi Ogun, 2000. "Exchange Rate Changes and Export Prices in a Small Semi-Open Economy," Open Economies Review, Springer, vol. 11(2), pages 127-134, April.
  • Handle: RePEc:kap:openec:v:11:y:2000:i:2:p:127-134 DOI: 10.1023/A:1008331820761
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    References listed on IDEAS

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    1. Kasa, Kenneth, 1992. "Adjustment costs and pricing-to-market theory and evidence," Journal of International Economics, Elsevier, pages 1-30.
    2. Engel, Charles, 1993. "Real exchange rates and relative prices : An empirical investigation," Journal of Monetary Economics, Elsevier, vol. 32(1), pages 35-50, August.
    3. Knetter, Michael M, 1989. "Price Discrimination by U.S. and German Exporters," American Economic Review, American Economic Association, pages 198-210.
    4. Giovannini, Alberto, 1988. "Exchange rates and traded goods prices," Journal of International Economics, Elsevier, pages 45-68.
    5. Kravis, Irving B. & Lipsey, Robert E., 1978. "Price behavior in the light of balance of payments theories," Journal of International Economics, Elsevier, pages 193-246.
    6. Dixit, Avinash K & Stiglitz, Joseph E, 1977. "Monopolistic Competition and Optimum Product Diversity," American Economic Review, American Economic Association, pages 297-308.
    7. Clark Leith, J., 1991. "The exchange rate and the price level in a small open economy: Botswana," Journal of Policy Modeling, Elsevier, vol. 13(2), pages 309-315.
    8. Richard Baldwin & Paul Krugman, 1989. "Persistent Trade Effects of Large Exchange Rate Shocks," The Quarterly Journal of Economics, Oxford University Press, vol. 104(4), pages 635-654.
    9. Sven W. Arndt & J. David Richardson, 1987. "Real-Financial Linkages Among Open Economies," NBER Working Papers 2230, National Bureau of Economic Research, Inc.
    10. Jayant Menon, 1992. "Exchange rates and prices of Australian manufactured exports," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), pages 695-710.
    11. Dixit, Avinash K & Stiglitz, Joseph E, 1977. "Monopolistic Competition and Optimum Product Diversity," American Economic Review, American Economic Association, pages 297-308.
    12. Kravis, Irving B. & Lipsey, Robert E., 1978. "Price behavior in the light of balance of payments theories," Journal of International Economics, Elsevier, pages 193-246.
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