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Investigating the oil price-exchange rate nexus: Evidence from Africa

Simeon Coleman (), Juan Cuestas and Estefanía Mourelle

No 2011015, Working Papers from The University of Sheffield, Department of Economics

Abstract: 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.

Keywords: Oil prices; real exchange rates; cointegration; nonlinearities (search for similar items in EconPapers)
JEL-codes: C32 F15 F31 O55 (search for similar items in EconPapers)
Pages: 39 pages
Date: 2011-05, Revised 2011-05
New Economics Papers: this item is included in nep-afr and nep-ene
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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Working Paper: Investigating the oil price exchange rate nexus: evidence from Africa (2012) Downloads
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