IDEAS home Printed from https://ideas.repec.org/p/oec/devaaa/134-en.html

Exchange-Rate Management and Manufactured Exports in Sub-Saharan Africa

Author

Listed:
  • Khalid Sekkat
  • Aristomene Varoudakis

Abstract

This paper presents an overview of the evolution of exchange-rate regimes in Africa and then attempts to assess empirically the impact of exchange-rate policy on manufactured export performance on a panel of major Sub-Saharan Africa countries over the 1970-92 period. We examine the impact of three exchange-rate policy indicators: real effective exchangerate changes, real exchange-rate volatility, and (model-based measures of) real exchange-rate misalignment. Export supply functions are estimated for three manufacturing industries (textile, chemicals, and metals) and two exchange-rate regimes: a fixed rates regime including six CFA Franc countries, and a more flexible regime represented by five non-CFA countries. Our findings show that exchange-rate management matters for export performance. This is evidenced both by the significant impact of changes in the real effective exchange rate and by the negative influence exerted independently by real exchange-rate misalignment. On the ... L’évolution des régimes de change en Afrique entre 1970 et 1992 est examinée dans ce document. Les effets de la politique de change sur les exportations de produits manufacturés de l’Afrique sub-saharienne sont également examinés de manière empirique. Trois indicateurs de la politique de change sont plus particulièrement étudiés: les variations du taux de change réel effectif, la volatilité du taux de change réel et son défaut d’alignement (mesuré à partir d’un modèle). Des fonctions d’exportation ont été estimées pour trois branches de l’industrie manufacturière (textile, chimie, métallurgie), ainsi que deux régimes de change: un régime de taux de change fixes, représenté par six pays de la zone CFA, et un second, plus flexible, représenté par cinq pays n’appartenant pas à cette zone. Il en ressort que la politique de change influe largement sur les performances à l’exportation du fait des conséquences importantes des variations du taux de change réel effectif et de l’incidence ...

Suggested Citation

  • Khalid Sekkat & Aristomene Varoudakis, 1998. "Exchange-Rate Management and Manufactured Exports in Sub-Saharan Africa," OECD Development Centre Working Papers 134, OECD Publishing.
    • Handle: RePEc:oec:devaaa:134-en
    DOI: 10.1787/211147404816
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a
    for a similarly titled item that would be available.

    Other versions of this item:

    More about this item

    JEL classification:

    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
    • L68 - Industrial Organization - - Industry Studies: Manufacturing - - - Appliances; Furniture; Other Consumer Durables

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oec:devaaa:134-en. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/dcoecfr.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.