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Estimating the Equilibrium Real Exchange Rate for Namibia

Listed author(s):
  • J. H. Eita


    (Department of Economics, University of Pretoria)

  • Moses M. Sichei

    (Department of Economics, University of Pretoria)

This paper estimates the equilibrium real exchange rate and the resulting real exchange rate misalignment in Namibia during the period 1970 to 2004. The equilibrium real exchange rate is determined by trade and exchange restrictions (openness), terms of trade and ratio of investment to GDP. An increase in openness and ratio of investment to GDP cause the real exchange rate to appreciate. The real exchange rate was overvalued for almost the entire estimation period. It reached its equilibrium value in 1998. It is important to monitor the real exchange rate, and ensure that the divergence from the equilibrium value is minimised.

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Paper provided by University of Pretoria, Department of Economics in its series Working Papers with number 200608.

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Length: 17 pages
Date of creation: Feb 2006
Handle: RePEc:pre:wpaper:200608
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