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Real Exchange Rates, Commodity Prices and Structural Factors in Developing Countries

  • Vincent BODART

    ()

    (UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES))

  • Bertrand CANDELON

    ()

    (University of Maastricht, Department of Economics)

  • Jean-François CARPANTIER

    ()

    (UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES) and Center for Operations Research and Econometrics (CORE))

This paper provides new empirical evidence about the relationship that may exist between real exchange rates and commodity prices in developing countries that are specialized in the export of a main primary commodity. It investigates how structural factors like the exchange rate regime, the degree of financial and trade openness, the degree of export concentration and the type of the commodity exports affect the strength of the commodity price-real exchange rate dependence.

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File URL: http://sites.uclouvain.be/econ/DP/IRES/2011045.pdf
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Paper provided by Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) in its series Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) with number 2011045.

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Length: 30
Date of creation: 02 Dec 2011
Date of revision:
Handle: RePEc:ctl:louvir:2011045
Contact details of provider: Postal: Place Montesquieu 3, 1348 Louvain-la-Neuve (Belgium)
Fax: +32 10473945
Web page: http://www.uclouvain.be/iresEmail:


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  19. Aizenman, Joshua & Edwards, Sebastian & Riera-Crichton, Daniel, 2012. "Adjustment patterns to commodity terms of trade shocks: The role of exchange rate and international reserves policies," Journal of International Money and Finance, Elsevier, vol. 31(8), pages 1990-2016.
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  23. Sebastian Edwards, 1987. "The Liberalization of the Current Capital Accounts and the Real ExchangeRate," NBER Working Papers 2162, National Bureau of Economic Research, Inc.
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