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Commodity prices and exchange rate volatility : lessons from South Africa's capital account liberalization

Arezki, Rabah; Dumitrescu, Elena-Ivona; Freytag, Andreas; … - In: Emerging markets review 19 (2014), pp. 96-105

Persistent link: https://www.econbiz.de/10010418049

The relative volatility of commodity prices : a reappraisal

Arezki, Rabah; Lederman, Daniel; Zhao, Hongyan - Economics Research, World Bank Group - 2011

evidence does not actually attempt to measure the volatility of prices of individual goods or commodities. The literature tends …This paper studies the volatility of commodity prices on the basis of a large dataset of monthly prices observed in … is that primary commodity prices are more volatile than those of manufactured products, although most of the existing …

Persistent link: https://www.econbiz.de/10009367339

Commodity Prices and Exchange Rate Volatility; Lessons from South Africaâ€™s Capital Account Liberalization

Dumitrescu, Elena; Arezki, Rabah; Freytag, Andreas; … - International Monetary Fund (IMF) - 2012

We examine the relationship between South African Rand and gold price volatility using monthly data for the period 1980-2010. Our main findings is that prior to capital account liberalization the causality runs from South African Rand to gold price volatility but the causality runs the other way...

Persistent link: https://www.econbiz.de/10011242268

Commodity prices and exchange rate volatility: Lessons from South Africa's capital account liberalization

Arezki, Rabah; Dumitrescu, Elena; Freytag, Andreas; … - In: Emerging Markets Review 19 (2014) C, pp. 96-105

We examine the relationship between the South African Rand and the gold price volatility using monthly data for the period 1979–2010. Our main finding is that prior to capital account liberalization the causality runs from the South African Rand to the gold price volatility but the causality...

Persistent link: https://www.econbiz.de/10010785356

What Drives the Global Land Rush?

Selod, Harris; Deininger, Klaus W.; Arezki, Rabah - International Monetary Fund (IMF) - 2011

This paper studies the determinants of foreign land acquisition for large-scale agriculture. To do so, gravity models are estimated using data on bilateral investment relationships, together with newly constructed indicators of agro-ecological suitability in areas with low population density as...

Persistent link: https://www.econbiz.de/10009369440

International Commodity Price Shocks, Democracy, and External Debt

Bruckner, Markus; Arezki, Rabah - International Monetary Fund (IMF) - 2010

We examine the effects that international commodity price shocks have on external debt using panel data for a world sample of 93 countries spanning the period 1970-2007. Our main finding is that positive commodity price shocks lead to a significant reduction in the level of external debt in...

Persistent link: https://www.econbiz.de/10008519505

Boom-Bust Cycle, Asymmetrical Fiscal Response and the Dutch Disease

Ismail, Kareem; Arezki, Rabah - International Monetary Fund (IMF) - 2010

We examine the behavior of expenditure policy during boom-bust in commodity price cycles, and its implication for real exchange rate movements. To do so, we introduce a Dutch disease model with downward rigidities in government spending to revenue shock. This model leads to a decoupling between...

Persistent link: https://www.econbiz.de/10008470378

An Alternative Explanation for the Resource Curse; The Income Effect Channel

Alichi, Ali; Arezki, Rabah - International Monetary Fund (IMF) - 2009

The paper provides an alternative explanation for the "resource curse" based on the income effect resulting from high government current spending in resource rich economies. Using a simple life cycle framework, we show that private investment in the non-resource sector is adversely affected if...

Persistent link: https://www.econbiz.de/10008528647

Tourism Specialization and Economic Development+L4183; Evidence from the UNESCO World Heritage List

Piotrowski, John M.; Arezki, Rabah; Cherif, Reda - International Monetary Fund (IMF) - 2009

The present paper investigates whether tourism specialization is a viable strategy for development. We estimate standard growth equations augmented with a variable measuring tourism specialization using instrumental variables techniques for a large cross-section of countries for the period...

Persistent link: https://www.econbiz.de/10008528655

Development Accounting and the Rise of TFP

Cherif, Reda; Arezki, Rabah - International Monetary Fund (IMF) - 2010

The paper presents evidence that the contribution of differences in total factor productivity (TFP) to income differences across countries steadily increased between 1970 and 2000. We verify that our finding is neither imputable to measurement errors in input factors nor dependent on the...

Persistent link: https://www.econbiz.de/10008533234