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Investigating the oil price-exchange rate nexus_Evidence from Africa 1974-2004.pdf (544.51 kB)

Investigating the oil price-exchange rate nexus: evidence from Africa 1970-2004

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journal contribution
posted on 2016-06-06, 10:52 authored by Simeon ColemanSimeon Coleman, Juan C. Cuestas, Estefania Mourelle
In this paper, we aim to provide further insights into the importance of real oil price as a determinant of real exchange rates for a pool of African countries. While this relationship has been explored substantially for many industrialised economies, African countries have received little attention. By means of cointegration techniques and nonlinear dynamics we find that, for some of these countries, shocks in the real price of oil are particularly important in determining the real exchange rates, even in the long run. These results would be of interest for policymakers in order to deal more effectively with exchange rate policy decisions, aiming at promoting economic growth in the area.

History

School

  • Business and Economics

Department

  • Economics

Published in

Economic Issues

Citation

COLEMAN, S., CUESTAS, J.C. and MOURELLE, E., 2016. Investigating the oil price-exchange rate nexus: evidence from Africa 1970-2004. Economic Issues, 21 (2), pp. 53-80.

Publisher

Econonic Issues

Version

  • AM (Accepted Manuscript)

Publisher statement

This work is made available according to the conditions of the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0) licence. Full details of this licence are available at: https://creativecommons.org/licenses/by-nc-nd/4.0/

Acceptance date

2015-12-08

Publication date

2016-09-30

Notes

This paper was accepted for publication in the journal Economic Issues

ISSN

1363-7029

Language

  • en

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