On the Determinants of Exchange Rate Misalignments

Jamel Saadaoui, Jacques Mazier and Nabil Aflouk

MPRA Paper from University Library of Munich, Germany

Abstract: The literature on exchange rate misalignments is very extensive as well as the literature on exchange rate determinants. To our knowledge, however, no study has analyzed the determinants of exchange rate misalignments. As huge capital inflows have been pouring into emerging countries since the climax of the crisis, exchange rate misalignments are becoming a crucial issue for policy makers. For a large panel of emerging and industrialized countries and on the period 1982-2008, we identify, empirically, the main determinants of exchange rate misalignments obtained thanks to a FEER approach (Williamson, 1994). Our analysis put forward trade openness, financial openness and regional specialization as determinant variables of exchange rate misalignments.

Keywords: Exchange Rate Misalignments; Trade Openness; Financial Openness; Regional Specialization. (search for similar items in EconPapers)
JEL-codes: F31 F32 O11 (search for similar items in EconPapers)
Date: 2013-06-08
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)

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Related works:
Working Paper: On the Determinants of Exchange Rate Misalignments (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:47481

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