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"The objective of this paper is to assess the extent to which the Botswana exchange rate (the Pula) has been consistent with economic fundamentals. To do so an equilibrium exchange rate is estimated and compared against the values of the effective e…
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"In the attempt to explain some of the possible causes of the instability, particularly in the principal currency, our study looked at the macroeconomic policy characteristics of all six phases of the auction system between September 26 1986 and Dec…
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"This paper develops a research framework to assess the constraints to export supply in low-income countries in sub-Saharan Africa. It begins with a review of theory and evidence on export development in low- income countries in section 2. It then s…
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"In this paper we discuss the macroeconomic implications of variations in AID inflows for Tanzania using an economy-wide dynamic CGE model. The major conclusions coming out from this work is that productivity effects matter. If additional aid and co…
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"In this study, the impact of exchange rate depreciation witnessed in Nigeria between 1986 and 1989 on the structure of sectoral prices under alternative pricing regimes was investigated. To this end, a model useful in simulating these impacts was d…
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"This paper summarizes the macroeconomic consequences of an over-valued currency. It describes the extent of foreign exchange misalignment in Ethiopia and its impact on the foreign exchange rate and the premium obtained through commodity smuggling i…
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"The study examines the influence of the major determinants of inflation with a particular focus on the role of exchange rate policy changes. The gradual change in policy orientation from “controls” to “market” in Tanzania is associated with a chang…
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"This study estimated an error correction model of the impact of real effective exchange rate volatility on the performance of non-traditional exports for Zambia between 1965 and 1999. Using a generalized autoregressive conditional hetero-scedastici…
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"This paper develops an empirical model for Ghana’s real exchange rate with special focus on foreign aid. The novelty of this study is the interfacing of exports with a policy environment, using aid as proxy, to see how it affects export performanc…
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"This study achieves two objectives. First, it specifies, estimates and solves a basic agricultural policy model that could be used to evaluate the effects of policies targeting the agricultural sector such as the adjustment programme. The model c…
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"This paper investigates the relationship between domestic and foreign price levels and the exchange rate and other macro-variables. In the first part, the real exchange rate is estimated as a cointegrating vector that spans the variables in a purch…
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"This study examines the effects of the real exchange rate of the cedi on agricultural price incentives and agricultural exports in Ghana. It is divided into six sections. The problem which motivated this study, the study's objectives and relevance,…
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"This study has attempted to examine the relevance of the monetary approach to the balance of payments (MABP) using Malawi as a case study. Of particular interest is the overall balance of payments effects of the exchange rate, relative prices and…
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"Pursuit of an exchange rate policy that promotes the competitiveness of exports would be greatly facilitated if the policy maker were able to establish the level of misalignment of the exchange rate and thereby try to correct for it. The motivatio…
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"The paper seeks to identify factors influencing and determinants of non-mining private investment in Botswana. It presents various studies conducted in other countries with modified assumptions to suit Botswana economy. It makes policy recommendati…
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"The present paper has grown out of two separate issues. These are, on the one hand, the specific preparations for a forthcoming reconstruction of the Macro Economic Model for Botswana (MEMBOT), and on the other, the general debate about Botswana's …
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"South Africa’s trade, industrial and exchange rate policies have been the subject of substantial public debate in recent months, not least owing to the impact of the 2008–10 global financial crisis. On the trade and industrial policy fronts a subst…
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This paper aims to re-examine the relationship between foreign aid and the real exchange rate, using the recent econometric methods developed for non stationary dynamic panels and an estimator that imposes a weaker homogeneity assumption on the slo…
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This document provides a brief update on several aspects of the Nigerian economy. An overview is given of Nigeria's merchandise trade toward the end of 2015. The trading of power resources, like oil and natural gas is discussed under the heading Ene…
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"Macroeconomic policy convergence may not be strictly necessary for countries within a regional trading arrangement to trade with each other using their existing economic capacity. The argument of this paper is that macro convergence around low rate…
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