Exchange Rate Assessment For Sub Saharan Economies

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Exchange Rate Assessment For Sub Saharan Economies

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Author : Burcu Aydin
language : en
Publisher: International Monetary Fund
Release Date : 2010-07-01

Exchange Rate Assessment For Sub Saharan Economies written by Burcu Aydin and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-07-01 with Business & Economics categories.

This paper provides an exchange rate assessment for sub-Saharan African economies by using methodologies similar to those developed by the International Monetary Fund’s Consultative Group on Exchange Rate Issues. As in the World Economic Outlook (IMF, 2009a), the unbalanced panel dataset covers 182 countries from 1973 to 2014. We apply four methodologies to assess the fundamental exchange rate: macroeconomic balance, equilibrium real exchange rate, external sustainability, and purchasing power parity. Results show that the impact of macroeconomic fundamentals on the equilibrium real exchange rate is different for sub-Saharan African economies than for advanced and less advanced economies.

Exchange Rate Liberalization In Selected Sub Saharan African Countries Successes Failures And Lessons

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Author : Mr.Nils Øyvind Mæhle
language : en
Publisher: International Monetary Fund
Release Date : 2013-01-31

Exchange Rate Liberalization In Selected Sub Saharan African Countries Successes Failures And Lessons written by Mr.Nils Øyvind Mæhle and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-01-31 with Business & Economics categories.

Many sub-Saharan African (SSA) countries liberalized their economies in the 1980s and early 1990s. This paper reviews the foreign exchange regime reforms in selected SSA, and their associated macroeconomic policies and economic performance during and after these reforms were undertaken. Before liberalization, most of the reviewed countries were characterized by extensive foreign exchange rationing, sizeable black market premiums, and declining per capita real income. Today, the countries that successfully reformed look markedly different. Rationing and parallel market spreads are a distant memory, and per capita income has increased sharply.

Dollarization In Sub Saharan Africa

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Author : Mr.Mauro Mecagni
language : en
Publisher: International Monetary Fund
Release Date : 2015-05-15

Dollarization In Sub Saharan Africa written by Mr.Mauro Mecagni and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-05-15 with Business & Economics categories.

Dollarization—the use of foreign currencies as a medium of exchange, store of value, or unit of account—is a notable feature of financial development under macroeconomically fragile conditions. It has emerged as a key factor explaining vulnerabilities and currency crises, which have long been observed in Latin America, parts of Asia, and Eastern Europe. Dollarization is also present, prominently, in sub-Saharan Africa (SSA) where it remains significant and persistent at over 30 percent rates for both bank loans and deposits—although it has not increased significantly since 2001. However, progress in reducing dollarization has lagged behind other regions and, in this regard, it is legitimate to ask whether this phenomenon is an important concern in SSA. This study fills a gap in the literature by analyzing these issues with specific reference to the SSA region on the basis of the evidence for the past decade.

In Search Of Equilibrium

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Author : Alexander Chudik
language : en
Publisher: International Monetary Fund
Release Date : 2007-04

In Search Of Equilibrium written by Alexander Chudik and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-04 with Business & Economics categories.

This paper presents a methodology to estimate equilibrium real exchange rates (ERER) for Sub-Saharan African (SSA) countries using both single-country and panel estimation techniques. The limited data set hinders single-country estimation for most countries in the sample, but panel estimates are statistically and economically significant, and generally robust to different estimation techniques. The results replicate well the historical experience for a number of countries in the sample. Panel techniques can also be used to derive out of sample estimates for countries with a more limited data set.

The Supply Response To Exchange Rate Reform In Sub Saharan Africa

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Author : Mustapha Rouis
language : en
Publisher: World Bank Publications
Release Date : 1994

The Supply Response To Exchange Rate Reform In Sub Saharan Africa written by Mustapha Rouis and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Devaluation of currency categories.

An Empirical Assessment Of The Exchange Rate Pass Through In Mozambique

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2021-05-06

An Empirical Assessment Of The Exchange Rate Pass Through In Mozambique written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-05-06 with Business & Economics categories.

Determining the magnitude and speed of the exchange rate passthrough (ERPT) to inflation has been of paramount importance for policy-makers in developed and emerging economies. This paper estimates the exchange rate passthrough in Mozambique using econometric techniques on a sample spanning from 2001 to 2019. Results suggest that the ERPT is assymetric, sizable and fast, with 50 percent of the exchange rate variations passing through to prices in less than six months. Policy-makers should continue to pursue low and stable inflation and develop a strong track record of prudent macroeconomic policies for the ERPT to decline.

Exchange Rate Assessment In A Resource Dependent Economy

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Author : Corinne Deléchat
language : en
Publisher:
Release Date : 2008

Exchange Rate Assessment In A Resource Dependent Economy written by Corinne Deléchat and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Botswana categories.

The paper combines various methodologies to assessing the level of the exchange rate in Botswana, explicitly taking into account the implications of its dependency on diamond exports. Real exchange rate estimation indicates that, after a period of overvaluation, Botswana's real effective exchange rate is now broadly in line with economic fundamentals. The projected current account path is also consistent with external sustainability, defined to ensure sufficient savings of diamond wealth in order to maintain a stable import and consumption path through 2050. Sustaining consumption over the longer term will however require to address obstacles to non-diamond exports' competitiveness.

Regional Economic Outlook October 2014

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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2014-10-20

Regional Economic Outlook October 2014 written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-10-20 with Business & Economics categories.

Growth in much of Sub-Saharan Africa is expected to remain strong, driven by efforts to invest in infrastructure and strong agricultural production. The current Ebola outbreak in Guinea, Liberia, and Sierra Leone is exacting a heavy toll, with spillovers to neighboring countries. External threats to the region's overall positive outlook include global financial conditions and a slowdown in emerging market growth.

Alternative Exchange Rate Strategies And Fiscal Performance In Sub Saharan Africa

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Author : Mrs.Stefania Bazzoni
language : en
Publisher: International Monetary Fund
Release Date : 1993-08-01

Alternative Exchange Rate Strategies And Fiscal Performance In Sub Saharan Africa written by Mrs.Stefania Bazzoni and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993-08-01 with Business & Economics categories.

This paper investigates the relationship between fiscal performance in 28 sub-Saharan African countries over the 1980-91 period with movements in the exchange rates, the terms of trade, and other macroeconomic aggregates. It finds that the tax base in most of these countries is heavily dependent on imports and import substitutes. Consequently, an overvaluation of the exchange rate in countries which adopted a fixed exchange rate strategy undermines the tax base and results in a widening of the fiscal deficit when the purpose of the strategy is to restore the real exchange rate to its equilibrium through fiscal contraction. Those countries which pursued a variable exchange rate strategy failed in attaining price stability, but exchange rate adjustment was critical in contributing to other macroeconomic objectives, particularly fiscal balance, competitiveness, and growth.

Macroeconomic Challenges Of Scaling Up Aid To Africa

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Author : Yongzheng Yang
language : en
Publisher: International Monetary Fund
Release Date : 2006-03-20

Macroeconomic Challenges Of Scaling Up Aid To Africa written by Yongzheng Yang and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-03-20 with Business & Economics categories.

Over the next decade, African countries are expected to be the largest beneficiaries of increased donor aid, which is intended to improve their prospects for achieving the Millennium Development Goals. This handbook will help these countries assess the macroeconomic implications of increased aid and respond to the associated policy challenges. The handbook is directed at policymakers, practicing economists in African countries, and the staffs of international financial institutions and donor agencies who participate in preparing medium-term strategies for African countries, including in the context of poverty reduction strategy papers. It provides five main guidelines for developing scaling-up scenarios to help countries identify important policy issues involved in using higher aid flows effectively: to absorb as much aid as possible, to boost growth in the short to medium term, to promote good governance and reduce corruption, to prepare an exit strategy should aid levels decrease, and to regularly reassess the policy mix.