Title De jure versus de facto exchange rate regimes in Sub-Saharan Africa / Slavi Slavov, International Monetary Fund

Published [Washington, District of Columbia] : International Monetary Fund, 2011 ©2011

Click on the following:
IMF eLibrary

Copies

Description 1 online resource Series IMF Working Paper ; WP/11/198 IMF Working Paper ; WP/11/198 Contents Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. The empirical model and the data; A. Model setup; B. Preliminary data analysis; 1. Volatility of gross international reserves versus volatility of dollar exchange rates for 22 SSA countries with de jure floating exchange rates (monthly data, 1999-2010); III. Results; A. Peggers; 1. Peggers -- part I; 2. Peggers -- part II; B. Floaters; 3. Floaters; C. SSA countries showing signs of "fear of floating"; 4. SSA countries showing signs of "fear of floating"; 5. Liberia 2. Apparent basket weight on USD versus regression coefficient on EMP for 19 SSA countries showing signs of "fear of floating" (monthly data, 2005-2010)6. SSA countries showing signs of "fear of floating": 2005-2010; 3. Median apparent weight on the US dollar, median EMP coefficient, and median adjusted R2 from 36-month rolling regressions for 16 SSA countries showing signs of "fear of floating"; 7. The Gambia: monthly versus weekly data for August 2007 -- December 2010; IV. Why is floating so fearsome? Is the US dollar right for SSA? Are there alternatives?; A. Why is floating so fearsome B. But isn't the weight on the US dollar excessive in Sub-Saharan Africa4. Apparent basket weight on USD over 2005-2010 versus weight of USD in country's public and publicly guaranteed debt in 2008 for 19 SSA countries showing signs of "fear of floating"; 5. Apparent basket weight on USD over 2005-2010 versus share of US exports in total exports in 2010 for 19 SSA countries showing signs of "fear of floating"; 6. Median NEER for 20 SSA countries showing signs of "fear of floating" (December 2009 = 100); 7. USD exchange rates for GBP, EUR, and GMD (December 2009 = 100) C. Are there alternatives: an illustrative country case?8. Euro-dollar, pound-dollar, and yen-dollar exchange rates (1971-2011, January 1971 = 100); 9. Dalasi-dollar exchange rate: actual versus hypothetical; References; Footnotes Summary There are 22 countries in Sub-Saharan Africa (SSA) with floating exchange rate regimes, de jure. Some target the money supply or the inflation rate; others practice ""managed floating."" Statistical analysis on monthly data for the past decade reveals that in most cases these exchange rate regimes can be approximated surprisingly well by a soft peg to a basket dominated by the US dollar. The weight on the dollar appears to have fallen somewhat across the continent in the aftermath of the global financial crisis. Replicating the model with weekly data for The Gambia suggests that the focus on t Related To Available in another form Notes Description based upon print version of record Bibliography Includes bibliographical references Notes English Description based on online resource; title from PDF title page (ebrary, viewed September 24, 2014) Subject Foreign exchange -- Africa, Sub-Saharan -- Econometric models Foreign exchange rates -- Africa, Sub-Saharan -- Econometric models Economic history Foreign exchange -- Econometric models Foreign exchange rates -- Econometric models SUBJECT Africa, Sub-Saharan -- Economic conditions. http://id.loc.gov/authorities/subjects/sh85001673 Subject Sub-Saharan Africa Form Electronic book Author International Monetary Fund, Corporate Author International Monetary Fund, author ISBN 1463900503 9781463900502 1463901550 9781463901554 1283563444 9781283563444 9786613875891 6613875899 1463901542 9781463901547

  Permalink