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Choice of the Exchange Policies in the Developments Countries: Study of the Competitiveness of Tunisia

Author

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  • Hend Sfaxi Benahji

    () (Universit 0064e Nice-Sophia Antipolis, CEMAFI, France)

Abstract

After the collapse of the Breton Woods system, the increased fluctuations of the exchange rates pushed the developing countries to adopt exchange rate policies to avoid rocking of the balance of payments. Since 1973, Tunisia adopted fixed or intermediary exchange rate policies to support or ameliorate her competitiveness and later to balance her current account. By calculating the real effective exchange rate misalignment, we showed that this country did not achieve her goals and that amelioration of competitiveness occurred only as from the moment when she softened her exchange policies. A policy of floating exchange rate is recommended for Tunisia especially why this country is more and more open.

Suggested Citation

  • Hend Sfaxi Benahji, 2008. "Choice of the Exchange Policies in the Developments Countries: Study of the Competitiveness of Tunisia," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 55(3), pages 353-367, September.
  • Handle: RePEc:voj:journl:v:55:y:2008:i:3:p:353-367
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    References listed on IDEAS

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    2. Andre Cartapanis, 2004. "Le declenchement des crises de change : qu'avons-nous appris depuis dix ans ?," Economie Internationale, CEPII research center, issue 97, pages 5-48.
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    5. Sebastian Edwards, 1989. "Real Exchange Rates in the Developing Countries: Concepts and Measure- ment," NBER Working Papers 2950, National Bureau of Economic Research, Inc.
    6. Janine Aron & Ibrahim Elbadawi & Brian Kahn, 1998. "Determinants of the real exchange rate in South Africa," CSAE Working Paper Series 1997-16, Centre for the Study of African Economies, University of Oxford.
    7. International Monetary Fund, 2002. "Tunisia’s Experience with Real Exchange Rate Targeting and the Transition to a Flexible Exchange Rate Regime," IMF Working Papers 02/190, International Monetary Fund.
    8. Andrew Berg & Paolo Mauro & Michael Mussa & Alexander K. Swoboda & Esteban Jadresic & Paul R Masson, 2000. "Exchange Rate Regimes in an Increasingly Integrated World Economy," IMF Occasional Papers 193, International Monetary Fund.
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    More about this item

    Keywords

    Exchange policy; Real effective exchange rate misalignment; Competitiveness; Tunisia;

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange

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