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Exchange rate and foreign interest rate linkages for Sub-Saharan Africa floaters /
The paper considers the determinants of exchange rate movements among sub-Saharan countries that have flexible exchange rate regimes. The determinants are based on the law of one price and interest parity conditions. Results indicate that the exchange rates have responded significantly to changes in...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Autor Corporativo: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Place of publication not identified] :
International Monetary Fund,
2012.
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| Colección: | IMF working paper ;
WP/12/208. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | The paper considers the determinants of exchange rate movements among sub-Saharan countries that have flexible exchange rate regimes. The determinants are based on the law of one price and interest parity conditions. Results indicate that the exchange rates have responded significantly to changes in the US Treasury bill rate and to the EMBI spread in recent years. The effects are more important for countries with open capital accounts. On the other hand the paper does not provide any support for the interest rate parity theory because domestic interest rates have no bearing on exchange rate movements. |
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| Descripción Física: | 1 online resource : illustrations |
| Bibliografía: | Includes bibliographical references. |
| ISBN: | 1475586477 9781475586473 1475505582 9781475505580 1475558260 9781475558265 1475516932 9781475516937 |