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Determination Of Real Exchange Rate Misalignment For Ghana

"The paper determines real exchange rate misalignment for Ghana for the period 1980 - 2010. It finds that the equilibrium real exchange rate is influenced to a significant extent by "fundamental" or "real" factors - represented in the study by produ…

Foreign Aid and the Real Exchange Rate in the West African Economic and Monetary Union

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…

Nigeria Economic Update Issue 3

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…

Nigeria Economic Update Issue 25

This document provides a brief update on several aspects of the Nigerian economy. The first article is about Foreign Trade - Recent data received from the National Bureau of Statistics (NBS) which shows that Nigeria’s Foreign Trade declined by 37.9…

Depreciation of the Ugandan Shilling: Implications for the National Economy

The Ugandan Shilling depreciated over the course of 2014/15 fiscal year, against the US dollar by over 20%. Uganda, like many other economies, was struggling with the falling value of its’ currency against the dollar which was attributed to the fall…

Is the Ethiopian Birr Overvalued? A Sober Assessment

"The purpose of this short paper is to answer the question by examining whether the Birr is misaligned or it is close to its equilibrium value as determined by macroeconomic fundamentals. To do so, the paper estimates what is called the fundamental …

A Statistical Analysis of Foreign Exchange Rate Behaviour in Nigeria's Auction

"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…

Assessing Export Supply Constraints: Methodology, Data, Measurement

"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…

Current Global Crisis and Macroeconomic Implications of AID-financed Public Investments: Evidence from Tanzania

"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…

Exchange Rate Depreciation and the Structure of Sectoral Prices in Nigeria under an Alternative Pricing Regime, 1986—89

"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…

Exchange Rate Policy and Economic Reform in Ethiopia

"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…

Exchange Rate Regimes and Inflation in Tanzania

"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…

Exchange Rate Volatility and Non-Traditional Exports Performance:Zambia, 1965–1999

"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…

External Aid Inflows and the Real Exchange Rate in Ghana

"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…

Policy Modelling in Agriculture: Testing the Response of Agriculture to Adjustment Policies in Nigeria

"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…

Price and Exchange Rate Dynamics in Kenya: An Empirical Investigation, (1970-1993)

"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…

The Real Exchange Rate and Ghana's Agricultural Exports

"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,…

The Role of Exchange Rate and Monetary Policy in the Monetary Approach to the Balance of Payments: Evidence from Malawi

"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…

Uganda's Equilibrium Real Exchange Rate and its Implications for Non-Traditional Export Performance

"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…

Determinants of Non-Mining Private Investment in Botswana

"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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