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Impact of the Real Exchange Rate Misalignments on the Performance of the Manufacturing Sector in Senegal
[L’impact des déséquilibres du taux de change réel sur la performance du secteur manufacturier au Sénégal]

Author

Listed:
  • Malick Diop

    (UCAD - Université Cheikh Anta Diop de Dakar [Sénégal])

  • Michaël Goujon

    (CERDI - Centre d'Études et de Recherches sur le Développement International - UCA [2017-2020] - Université Clermont Auvergne [2017-2020] - CNRS - Centre National de la Recherche Scientifique)

  • Birahim Bouna Niang

    (UCAD - Université Cheikh Anta Diop de Dakar [Sénégal])

Abstract

This paper deals with the impact of the real exchange rate misalignments on the performances of the manufacturing sector in Senegal over 1980-2015. We compute for the Senegal the real exchange rate misalignments vis-à-vis its long-run equilibrium level defined following the BEER approach (Behavioral Equilibrium Exchange Rate). We then estimate equations that explain the changes in the manufacturing production by using as left-hand variables the indicators of manufacturing value added per capita or per sector employee. We use recent econometric methods as the one from Pesaran, Shin and Smith (2001) applied to the Auto-Regressive Distributed Lag model (PSS-ARDL). Our results show that a lower undervaluation or a higher overvaluation have a negative impact on performances, and that this impact seems linear.

Suggested Citation

  • Malick Diop & Michaël Goujon & Birahim Bouna Niang, 2018. "Impact of the Real Exchange Rate Misalignments on the Performance of the Manufacturing Sector in Senegal [L’impact des déséquilibres du taux de change réel sur la performance du secteur manufacturi," Post-Print hal-01905128, HAL.
    • Handle: RePEc:hal:journl:hal-01905128
    DOI: 10.3917/edd.321.0107
    as

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    Cited by:

    1. Sabrine Ferjani & Sami Saafi & Ridha Nouira & Christophe Rault, 2022. "The Impacts of the Dollar-Renminbi Exchange Rate Misalignment on the China-United States Commodity Trade: An Asymmetric Analysis," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 20(3), pages 507-554, September.

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