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- Title
CAN AFRICAN COUNTRIES ACHIEVE LONG - RUN REAL EXCHANGE RATE DEPRECIATION THROUGH NOMINAL EXCHANGE RATE DEPRECIATION?
- Authors
Holmes, Mark J.
- Abstract
The article discusses the effectiveness of nominal exchange rate devaluation in terms of real exchange rate devaluation and any subsequent benefit with regard to trade balance in the context of economies of African countries. The article analyzes whether or not nominal devaluation leads to real exchange rate devaluation in the long-run for a large sample of African countries. During the course of the investigation, the article addresses questions such as whether across African countries there is evidence that a long-run gain in competitiveness can be obtained through a devaluation of the nominal exchange rate; and, if a long-run relationship between the nominal and real exchange rate is confirmed, to what extent the initial gain in competitiveness is eroded in the long-run.
- Subjects
SOUTH Africa; DEVALUATION of currency; FOREIGN exchange rates; MONETARY policy; FOREIGN trade regulation; MACROECONOMICS
- Publication
South African Journal of Economics, 2004, Vol 72, Issue 2, p305
- ISSN
0038-2280
- Publication type
Article
- DOI
10.1111/j.1813-6982.2004.tb00114.x