166
Views
3
CrossRef citations to date
0
Altmetric
Original Articles

Misalignment of the real exchange rate in the African Financial Community (CFA zone) and its policy implications

, &
Pages 1205-1215 | Published online: 06 Jul 2010

References

  • Abdih , Y and Tsangarides , CG . 2006 . FEER for the CFA franc , IMF Working Paper No. 06/236 Washington, DC : IMF .
  • Boogaerde , P and Tsangarides , C . 2005 . Ten years after the CFA franc devaluation: progress toward regional integration in the WAEMU , IMF Working Paper No. 05/145 Washington, DC : IMF .
  • Calderon , C and Aguirre , A . 2005 . Real exchange rate misalignments and economic performance , Central Bank of Chile Working Paper No. 315 Santiago : Central Bank of Chile .
  • Collier , P and Gunning , JW . 1999 . Why has Africa grown slowly? . Journal of Economic Perspectives , 3 : 3 – 22 .
  • Cottani , J , Cavallo , D and Khan , S . 1990 . Real exchange rate behavior and economic performance in LDCs . Economic Development and Cultural Change , 39 : 61 – 76 .
  • Devarajan , S . 1997 . Real exchange rate misalignment in the CFA zone . Journal of African Economies , 6 : 35 – 53 .
  • Edwards , S . 1989 . Real and monetary determinants of real exchange rate behavior: theory and evidence from developing countries . Journal of Development Economies , 29 : 311 – 41 .
  • Edwards , S . 2002 . Exchange rate systems in emerging economies , NBER Working Paper Cambridge, MA
  • Ghei, N. and Pritchett, L. (Eds) (1999) The three pessimisms: real exchange rates and trade flows in developing countries, in Exchange Rate Misalignment: Concepts and Measurement for Developing Countries, World Bank Research Publication, Oxford University Press, Oxford, pp. 467–796.
  • Ghura , D and Grennes , T . 1993 . The real exchange rate and macroeconomic performance in sub-Saharan Africa . Journal of Development Economics , 42 : 155 – 74 .
  • Greene , W . 2003 . Econometric Analysis, , 5th , New York : Prentice Hall .
  • Hinkle, L. and Montiel, P. (Eds) (1999) Exchange rate misalignment: an overview, in Exchange Rate Misalignment: Concepts and Measurement for Developing Countries, World Bank Research Publication, Oxford University Press, Oxford, pp. 1–37.
  • Hinkle, L. and Nsengiyumva, F. (1999) External real exchange rates: purchasing power parity, the Mundell-Fleming model and competitiveness in traded goods, in Exchange Rate Misalignment: Concepts and Measurement for Developing Countries (Eds) L. Hinkle and P. Montiel, World Bank Research Publication, Oxford University Press, New York, pp. 41–112.
  • Krueger, A., Schiff, M. and Valdes, A. (1988) Agricultural incentives in developing countries: measuring the effects of sectoral and economy-wide policies, World Bank Working Paper, World Bank, Washington, DC.
  • Montiel , P . 1999 . “ The long run equilibrium real exchange rate: conceptual issues and empirical research ” . In Exchange Rate Misalignment: Concepts and Measurement for Developing Countries (Eds) L. Hinkle and P. Montiel , 219 – 63 . Oxford : World Bank Research Publication, Oxford University Press .
  • Soderling , L . 2000 . Dynamics of export performance, productivity and real effective exchange rate in manufacturing: the case of Cameroon . Journal of African Economies , 9 : 411 – 29 .
  • Subramanian , A and Tamirisa , N . 2001 . Africa's trade revisited , IMF Working Paper Series No. 01/33 Washington, DC : IMF .
  • Williamson , J . 1995 . Exchange rate policy and development strategy . Journal of African Economies , 6 : 17 – 36 .
  • World Bank . 1995 . Global Economic Prospects and the Developing Countries , Washington, DC : World Bank International Economics Publication .
  • World Bank . 2000 . World Development Indicator Database Washington, DC
  • World Bank (2007) African Economic Outlook 2007, World Bank Publication, Washington, DC.
  • Yoshino, Y. (2004) Pattern of Africa-Asia trade and investment, World Bank Publication, 33671 #1, Washington, DC.
  • Zafar , A . 2005 . The impact of the strong euro on the real effective exchange rates of the two Francophone African CFA zones , World Bank Policy Research Paper No. 3751 Washington, DC : World Bank .

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.