Real and nominal effective exchange rates for African countries

Mohsen Bahmani‐Óskooee · Abera Gelan

19 citations0/0 files storedApplied Economics

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Monetary Policy and Economic Impact Global Financial Crisis and Policies Global Trade and Competitiveness

Abstract

The real effective exchange rate is an index that is used to measure international competitiveness of a country. While the International Monetary Fund constructs and publishes the index for all industrial and some newly industrialized countries, the African nations receive no such attention. In this article we construct quarterly indexes of real and nominal effective exchange rates over the 1971I–2004III period for 21 African countries. We hope by publishing this data set, more research attention will be given to these countries. As an application, we test for the stationarity of the real effective rates to show that the Purchasing Power Parity theory holds only in four of our 21 cases.

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References

2004The Purchasing Power Parity Debate 1988An empirical examination of long-run purchasing power parity using cointegration techniques 1988Cointegration and Tests of Purchasing Power Parity 1990Purchasing Power Parity in the Long Run: A Cointegration Approach 1989National price levels, purchasing power parity, and cointegration: a test of four high inflation economies 2003Purchasing Power Parity 2001Nominal and real effective exchange rates of middle eastern countries and their trade performance 1990Co-integration as an empirical test of purchasing power parity

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2014Economic Uncertainty, Monetary Uncertainty, and the Demand for Money in Africa 2017Non-linear quantile unit root test and PPP: more evidence from Africa 2019Asymmetric effects of exchange rate changes on the demand for money in Africa 2014Real and nominal effective exchange rates of African countries during 1971Q1–2012Q4

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