Determinants of the Real Exchange Rate in South Africa

Janine Aron (), . Elbadawi and B. Kahn

Working Papers Series from Centre for the Study of African Economies, University of Oxford

Abstract: The real exchange rate is a key policy in South Africa's open economy. A cointegration framework is used with single equation equilibrium correction models to investigate the short-run and long-run equilibrium determinants of the quarterly real exchange rate, 1970:1-1995:1. The cointegrated equilibrium is obtained from a theoretical model characterising equilibrium as the achievement of internal and external balance for sustainable capital flows and trade and tax regimes, and given terms of trade and technology.

Keywords: SOUTH AFRICA; EXCHANGE RATE; COINTEGRATION (search for similar items in EconPapers)
JEL-codes: F31 C22 (search for similar items in EconPapers)
Date: 1997
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Working Paper: Determinants of the Real Exchange Rate in South Africa (1998)
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