Exchange Rate Volatility and Non- Traditional Exports Performance: Zambia, 1965–1999
This study estimated an error correction model of the impact of real effective exchange rate volatility on the performance of non-traditional exports for Zambia between 1965 and 1999. Using a generalized autoregressive conditional heteroscedasticity (GARCH) measure of real exchange rate volatility, the findings show that exchange rate volatility depresses exports in both the short run and the long run. The results also suggest that supportive macroeconomic factors are important in enhancing non-traditional exports in the country. This requires packaging a set of incentives aimed at removing anti-export bias policies so as to promote exports, particularly of non-traditional products, given their standing in the economic growth agenda for the country.
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