Les déterminants du misalignement du taux de change réel: Analyse empirique pour le cas de la région MENA
Determinants of misalignment of the real exchange rate: An empirical analysis for the MENA region
Slah Slimani () and
Khaoula Ben allem
MPRA Paper from University Library of Munich, Germany
The purpose of this paper is to explain the magnitude of the misalignment of the real exchange rate and its determinants for the MENA countries. Misalignment is defined as the deviation of the real exchange rate from its equilibrium level, unlike volatility which is defined as fluctuations that are very frequent but do not persist. Through this study, an attempt is made to broaden the traditional analysis, focusing mainly on the role of the exchange rate regimes on misalignment of the REER. On the same point of view, the roles of the persistence of misalignment, the quality of institutions, financial development and inflation in the misalignment of the real equilibrium exchange rate of the region. The results of the empirical analysis show that the most advantageous exchange rate regime for the MENA countries is the floating regime. Also, the quality of institutions, financial development and inflation are determinants of the shift of the REER from its equilibrium value.
Keywords: reel exchange rate; MENA; misalignement; GMM (search for similar items in EconPapers)
JEL-codes: F0 F3 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ara
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
https://mpra.ub.uni-muenchen.de/81247/1/MPRA_paper_81247.pdf original version (application/pdf)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:81247
Access Statistics for this paper
More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().