Exchange rate and foreign interest rate linkages for Sub-Saharan Africa floaters:
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Bibliographische Detailangaben
1. Verfasser: Thomas, Alun H. (VerfasserIn)
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: [Place of publication not identified] International Monetary Fund 2012
Schriftenreihe:IMF working paper WP/12/208
Schlagworte:
Online-Zugang:FAW01
FAW02
FLA01
Beschreibung:Includes bibliographical references
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
ISBN:1475586477
9781475586473

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