Do exchange rate misalignments really affect economic growth? The case of Sub-Saharan African countries

Abstract : In order to shed light on the debate concerning the exiting of the Franc Zone area, we address the issue of the growth effects of currency misalignments in Sub-Saharan African countries. To this end, we first assess misalignments which we include in a growth equation while taking into account uncertainty and “jointness” between growth determinants using recent Bayesian inference techniques. More specifically, exchange rate regimes, as well as cross-sectional error dependence, will be explored. We thus demonstrate that the gain related to undervaluation is almost zero regardless of the exchange rate regime.
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Article dans une revue
International Economics, Elsevier, 2015, International trade, FDI and growth: some interactions, 145, pp.92-110. 〈10.1016/j.inteco.2015.10.001〉
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https://halshs.archives-ouvertes.fr/halshs-01403708
Contributeur : Rodolphe Defiolle <>
Soumis le : dimanche 27 novembre 2016 - 13:13:26
Dernière modification le : mercredi 5 septembre 2018 - 13:30:10

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Ferdinand Owoundi. Do exchange rate misalignments really affect economic growth? The case of Sub-Saharan African countries. International Economics, Elsevier, 2015, International trade, FDI and growth: some interactions, 145, pp.92-110. 〈10.1016/j.inteco.2015.10.001〉. 〈halshs-01403708〉

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