REER misalignment and economic growth in the CAEMC Region

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dc.contributor.advisorSingh, Raju Janen_ZA
dc.contributor.authorMohamadou, Babaen_ZA
dc.date.accessioned2018-11-07T13:03:47Z
dc.date.available2018-11-07T13:03:47Z
dc.date.issued2013en_ZA
dc.description.abstractThe CFA Franc real exchange rate is frequently suspected to be overvalued as a result of recent prolonged appreciation of the Euro (the anchor currency). This situation is popularly associated with lose of competitiveness and several studies have tried to establish the relationship between growth and misaligned or overvalued real exchange rates. This study used a panel data cointegration techniques to evaluate the growth effects of real effective exchange rate misalignments for the Central African Economic and Monetary Community (CAEMC) using time series data from 1999-2010. To achieve this objective, the Real Effective Equilibrium Exchange Rate for the CFA Franc was first estimated using the Behavioural Equilibrium Exchange Rate (BEER) from which the misalignment was derived. Subsequently, a dynamic panel growth model was estimated using a Generalised Least Squares (GLS) Method, in which among the traditional determinants of growth, our measure of misalignment was included. Moderate and transitory misalignments were found for the six CAEMC member countries except for the Congo Republic were a sustained overvaluation was observed. The growth analysis indicates a positive and significant impact of real exchange rate misalignment to economic growth of the CAEMC member countries.en_ZA
dc.identifier.apacitationMohamadou, B. (2013). <i>REER misalignment and economic growth in the CAEMC Region</i>. (Thesis). University of Cape Town ,Faculty of Commerce ,Research of GSB. Retrieved from http://hdl.handle.net/11427/29042en_ZA
dc.identifier.chicagocitationMohamadou, Baba. <i>"REER misalignment and economic growth in the CAEMC Region."</i> Thesis., University of Cape Town ,Faculty of Commerce ,Research of GSB, 2013. http://hdl.handle.net/11427/29042en_ZA
dc.identifier.citationMohamadou, B. 2013. REER misalignment and economic growth in the CAEMC Region. University of Cape Town.en_ZA
dc.identifier.ris TY - Thesis / Dissertation AU - Mohamadou, Baba AB - The CFA Franc real exchange rate is frequently suspected to be overvalued as a result of recent prolonged appreciation of the Euro (the anchor currency). This situation is popularly associated with lose of competitiveness and several studies have tried to establish the relationship between growth and misaligned or overvalued real exchange rates. This study used a panel data cointegration techniques to evaluate the growth effects of real effective exchange rate misalignments for the Central African Economic and Monetary Community (CAEMC) using time series data from 1999-2010. To achieve this objective, the Real Effective Equilibrium Exchange Rate for the CFA Franc was first estimated using the Behavioural Equilibrium Exchange Rate (BEER) from which the misalignment was derived. Subsequently, a dynamic panel growth model was estimated using a Generalised Least Squares (GLS) Method, in which among the traditional determinants of growth, our measure of misalignment was included. Moderate and transitory misalignments were found for the six CAEMC member countries except for the Congo Republic were a sustained overvaluation was observed. The growth analysis indicates a positive and significant impact of real exchange rate misalignment to economic growth of the CAEMC member countries. DA - 2013 DB - OpenUCT DP - University of Cape Town LK - https://open.uct.ac.za PB - University of Cape Town PY - 2013 T1 - REER misalignment and economic growth in the CAEMC Region TI - REER misalignment and economic growth in the CAEMC Region UR - http://hdl.handle.net/11427/29042 ER - en_ZA
dc.identifier.urihttp://hdl.handle.net/11427/29042
dc.identifier.vancouvercitationMohamadou B. REER misalignment and economic growth in the CAEMC Region. [Thesis]. University of Cape Town ,Faculty of Commerce ,Research of GSB, 2013 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/29042en_ZA
dc.language.isoengen_ZA
dc.publisher.departmentResearch of GSBen_ZA
dc.publisher.facultyFaculty of Commerceen_ZA
dc.publisher.institutionUniversity of Cape Town
dc.subject.otherDevelopment Financeen_ZA
dc.titleREER misalignment and economic growth in the CAEMC Regionen_ZA
dc.typeMaster Thesis
dc.type.qualificationlevelMasters
dc.type.qualificationnameMPhilen_ZA
uct.type.filetypeText
uct.type.filetypeImage
uct.type.publicationResearchen_ZA
uct.type.resourceThesisen_ZA
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