Les transferts de fonds des migrants influencent-ils le taux de change réel d’équilibre ? Cas des pays de la région MENA
Nader Nefzi () and
Revue d’économie du développement, 2018, vol. 26, issue 3, 65-119
This paper aims to examine the long-term relationship between the real effective exchange rate (REER) and its fundamentals, with a deeper analysis of the effect of remittances. Using a panel of nine MENA countries over the period 1980-2015, and an ARDL panel model, we highlight different effects (appreciation and depreciation) of fundamentals on the REER. The estimates were performed with three estimators: Pooled Mean Group, Mean Group and Dynamic Common Correlated Effects. The results obtained for the impact of all the determinants on the exchange rate are broadly confirmed in the economic literature. However, in contrast to previous studies, our results show that remittances lead to a depreciation of the real effective exchange rate; this means that they do not deteriorate the price competitiveness of recipient countries. Codes JEL?: F22, F31, F40.
Keywords: migration; remittances; real effective exchange rate; dutch disease; MENA (search for similar items in EconPapers)
JEL-codes: F22 F31 F40 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:cai:edddbu:edd_323_0065
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