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Commodity Prices and Exchange Rate Volatility; Lessons from South Africa’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
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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
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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
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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
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Resource Windfalls and Emerging Market Sovereign Bond Spreads: The Role of Political Institutions
Arezki, Rabah; Brückner, Markus - In: The World Bank Economic Review 26 (2012) 1, pp. 78-99
We examine the effect that revenue windfalls from international commodity price booms have on sovereign bond spreads using panel data for 38 emerging market economies during the period 1997-2007. Our main finding is that commodity price booms lead to a significant reduction in the sovereign bond...
Persistent link: https://www.econbiz.de/10015360631
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Structural Reforms, IMF Programs and Capacity Building; An Empirical Investigation
Arezki, Rabah; Quintyn, Marc; Toscani, Frederik G - International Monetary Fund (IMF) - 2012
This paper investigates the role that International Monetary Fund (IMF) programs and capacity building play in fostering structural reforms. To do so, we exploit two novel datasets on IMF capacity building and structural reforms available for over one hundred IMF member countries over the period...
Persistent link: https://www.econbiz.de/10011242244
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Resource Windfalls, Optimal Public Investment and Redistribution; The Role of Total Factor Productivity and Administrative Capacity
Gelb, Alan H.; Dupuy, Arnaud; Arezki, Rabah - International Monetary Fund (IMF) - 2012
This paper studies the optimal public investment decisions in countries experiencing a resource windfall. To do so, we use an augmented version of the Permanent Income framework with public investment faced with adjustment costs capturing the associated administrative capacity as well as...
Persistent link: https://www.econbiz.de/10011242260
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Testing the Prebisch-Singer Hypothesis since 1650; Evidence from Panel Techniques that Allow for Multiple Breaks
Arezki, Rabah; Hadri, Kaddour; Loungani, Prakash; Rao, Yao - International Monetary Fund (IMF) - 2013
In this paper, we re-examine two important aspects of the dynamics of relative primary commodity prices, namely the … states that relative commodity prices follow a downward secular trend, are mixed but with a majority of series showing … investigating the dynamics of the volatility of the 25 relative primary commodity prices also allowing for endogenous multiple …
Persistent link: https://www.econbiz.de/10011242385
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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
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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