Egypt, Morocco and Tunisia face challenges competing on the global markets, as shown by their relatively low and stagnant export shares. The limited export competitiveness has hampered external demand, growth and employment. Applying, for the first time to North Africa, the stock-flow approach...

The study analyzed the relationship between relevant macroeconomic variables and the real effective exchange rate (REER) in Nigeria based on the Behavioural Equilibrium Exchange Rate (BEER) approach. An Autoregressive Distributed Lag (ARDL) model was estimated to obtain the equilibrium REER...

Egypt, Morocco and Tunisia face challenges competing on the global markets, as shown by their relatively low and stagnant export shares. The limited export competitiveness has hampered external demand, growth and employment. Applying, for the first time to North Africa, the stock-flow approach...

We estimate a multivariate unobserved components-stochastic volatility model to explain the dynamics of a panel of six exchange rates against the US dollar. The empirical model is based on the assumption that both countries' monetary policy strategies may be well described by Taylor rules with a...

This paper addresses whether the spot exchange rates display long swings and whether these swings are persistent. The null from the naïve random walk theory is that they do not: if they would be unit roots with positive drifts they would converge to infinity. However, if they would be driftless...

In most emerging economies, there is a relationship between the fluctuations in the real exchange rate and capital flows. This research examines the long-run response of the real exchange rate to capital inflows in Mexico for the period 1986:1-2002:2, using cointegration analysis.The estimated...

Egypt, Morocco and Tunisia face challenges competing on the global markets, as shown by their relatively low and stagnant export shares. The limited export competitiveness has hampered external demand, growth and employment. Applying, for the first time to North Africa, the stock-flow approach...

This study examines the purchasing power parity (PPP) approach to the determination of exchange rate misalignment in Nigeria by using two variants of the PPP: the absolute PPP (aPPP) and the relative PPP (rPPP). Data on the Nigerian Naira to US Dollar ( /$), British Pound ( /£) and Chinese Yuan...

Nigeria has witnessed oil windfalls for decades, however, it was presumed that revenues from oil would assist Nigeria to mark its transition from underdevelopment to industrial development. Regrettably, the high dependence on oil sector has led to deindustrialization and exchange rate...