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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 relevanc...

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 a...

Is the Botswana Pula Misaligned?

"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...

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 motivat...

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 recommenda...

Exchange Rate, Inflation and Competitive Power: An Analysis of the Relationship between Botswana's Exchange and Inflation Rates, and its Implication for the Competitive Strength of her Producers

"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'...

Understanding the Exchange Rate Regimes in South Sudan: A Non-technical Review

This paper simplifies and discusses our understanding of the exchange rate policy regime in South Sudan. After independence in 2011, South Sudan fixed the value of its currency, the South Sudan Pound (SSP), to the U.S. dollar. This is a common pra...

The Political Economy of Exchange Rate Policy and Capital Control in Nigeria

This paper examines the primary cause of the exchange rate management failure in Nigeria by evaluating the motivating factor for these changes and reviewing the role of politics and interest group in the Nigerian exchange rate management. The fi...

Foreign Exchange Rationing and Wheat Markets in Ethiopia

This paper examines the developments in Ethiopia’s wheat markets, including the links between international and domestic prices for wheat, the implications of foreign exchange rationing (that effectively stopped private sector wheat imports), and ...

Why has the Exchange Rate Policy Failed in Nigeria?

This policy brief examines the primary cause of the exchange rate policy failure in Nigeria by evaluating the motivating factor for exchange rate regime changes in the country and reviewing the role of politics and interest groups in the Nigerian ...

The Role of a Flexible Foreign Exchange System in Macroeconomic Adjustment: The Case of Morocco

Morocco has moved towards a more flexible exchange rate system, by widening its currency fluctuation bands to +/- 2.5% around a central price. This transition will, in time, equip the Moroccan economy with a macroeconomic instrument acting as a sh...

Rôle du Régime de change Flexible dans l’ajustement Macroéconomique: cas du Maroc / The Role of a Flexible Foreign Exchange System in Macroeconomic Adjustment: The Case of Morocco

Morocco has moved towards a more flexible exchange rate system, by widening its currency fluctuation bands to +/- 2.5% around a central price. This transition will, in time, equip the Moroccan economy with a macroeconomic instrument acting as a sh...

Exchange Rate, Petroleum Price and Price Determination in Sierra Leone

The Sierra Leone economy is a net importer with a chronic negative balance of trade. Imports as a percentage of GDP averaged 40.8% between 2001 and 2010. Imports of food, mineral fuels and lubricants accounted for 50.8% of the total value of impor...

Conditional Pricing of Currency Risk in Africa's Equity Market

In this paper, we sought to establish whether Africa’s volatile currencies drive equity risk premium. We use the stochastic discount factor (SDF) framework to estimate various conditional specifications of the International Capital Asset Pricing M...

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 pro...

Taux de Change Fixe / Taux de Change Flottant: Le cas du Maroc / Fixed Exchange Rate / Floating Exchange Rate: The case of Morocco

In the midst of an orderly transition of its exchange rate regime, under the benevolent authority of the International Monetary Fund (IMF), the Kingdom of Morocco is a very concrete example of the advantages and disadvantages of the two dominant e...

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