Exchange-Rate Policy and Agricultural Exports Performance in Sub-Saharan Africa

1990 ◽  
Vol 8 (1) ◽  
pp. 29-42 ◽  
Author(s):  
Colin Kirkpatrick
Keyword(s):  
Exchange Rate ◽  
Exchange Rate Policy ◽  
Sub Saharan Africa ◽  
Agricultural Exports ◽  
Rate Policy ◽  
Sub Saharan

Progress Report on the Activities of the Independent Evaluation Office (IEO)

Policy Papers ◽  
2007 ◽  
Vol 2007 (46) ◽  
Author(s):  
Keyword(s):  
Exchange Rate ◽  
Progress Report ◽  
Exchange Rate Policy ◽  
Sub Saharan Africa ◽  
Independent Evaluation ◽  
Rate Policy ◽  
Sub Saharan ◽  
The Imf

Since its last Report to the IMFC in Singapore, the IEO has focused most of its attention on completion of two evaluations; namely the IMF and Aid to Sub-Saharan Africa and the IMF’s Advice on Exchange Rate Policy. In addition work is progressing or has been initiated on a number of new topics identified in the last Report.

scholarly journals Investigation of optimal inflation targets for 15 major oil exporting Sub-Saharan African countries

2020 ◽  
Vol 25 (49) ◽  
pp. 45-60 ◽  
Author(s):  
Idris Abdullahi Abdulqadir ◽  
Soo Y. Chua ◽  
Saidatulakmal Mohd
Keyword(s):  
Exchange Rate ◽  
Alternative Hypothesis ◽  
Threshold Level ◽  
Exchange Rate Policy ◽  
Sub Saharan Africa ◽  
Ratio Test ◽  
African Countries ◽  
Content Type ◽  
Inflation Targets ◽  
Sub Saharan

Purpose The purpose of this paper is to investigate the optimal inflation targets for an appropriate exchange rate policy in 15 major oil exporting countries in Sub-Saharan African (SSA). Design/methodology/approach Dynamic heterogeneous panel threshold techniques are used via threshold-effect test and threshold regression. This procedure is achieved through a grid search and bootstrapping replications method to stimulate the asymptotic distribution of the likelihood ratio test of the null hypothesis on no-threshold as against the alternative hypothesis. The p-values validate the threshold estimates. Findings Findings revealed that the optimal inflation target has a turning point and its impact on the real exchange rate is up to a threshold level of 14.47 per cent. Furthermore, the inflation rate above the threshold level overwhelmingly revealed its effect on real exchange regimes. Research limitations/implications It would have been a good idea to investigate optimal inflation targets for all African countries but due to inadequate data the selection criteria was narrowed to oil-exporting countries in Sub-Saharan Africa. Practical implications Inflation targeting beyond the threshold level would have serious implications on the monetary policy. Originality/value To the best of the knowledge, this is the first study to look at optimal inflation targets for 15 major oil exporting countries in general and SSA countries in particular. The findings provide a critical analysis of an inflation regime for a typical oil-producing country that oil exports being their source of revenue.

Fear of Free Floating or Forced Exchange Rate Fixing

2004 ◽  
pp. 112-122
Author(s):  
O. Osipova
Keyword(s):  
Exchange Rate ◽  
Financial Crisis ◽  
Exchange Rates ◽  
Inflation Targeting ◽  
Exchange Rate Policy ◽  
Float Exchange Rate ◽  
Floating Exchange Rate ◽  
Rate Policy ◽  
Exchange Rate Arrangements ◽  
Pass Through

After the financial crisis at the end of the 1990 s many countries rejected fixed exchange rate policy. However actually they failed to proceed to announced "independent float" exchange rate arrangement. This might be due to the "fear of floating" or an irreversible result of inflation targeting central bank policy. In the article advantages and drawbacks of fixed and floating exchange rate arrangements are systematized. Features of new returning to exchange rates stabilization and possible risks of such policy for Russia are considered. Special attention is paid to the issue of choice of a "target" currency composite which can minimize external inflation pass-through.

Exchange Rate Regimes and Economic Stability

2010 ◽  
pp. 29-43
Author(s):  
S. Smirnov
Keyword(s):  
Exchange Rate ◽  
Inflation Targeting ◽  
Exchange Rate Regime ◽  
Exchange Rate Policy ◽  
Real Sector ◽  
Economic Stability ◽  
Exogenous Shocks ◽  
Floating Exchange Rate ◽  
Rate Policy ◽  
Managed Floating

The Bank of Russia intends to introduce inflation targeting policy and exchange rate free floating regime in three years. Exogenous shocks absorption which stabilizes the real sector of economy is usually considered to be one of the advantages of free floating exchange rate policy. However, our research based on the analysis of 25 world largest economies exchange rates and industrial production during the crisis of 2008-2009 does not confirm this hypothesis. The article also analyzes additional risks associated with free floating exchange rate regime in Russia and presents some arguments in favor of managed floating exchange rate regime.

On the Exchange Rate Policy

2010 ◽  
pp. 21-28
Author(s):  
K. Yudaeva
Keyword(s):  
Monetary Policy ◽  
Exchange Rate ◽  
Inflation Targeting ◽  
Exchange Rate Policy ◽  
Institutional Changes ◽  
Crisis Period ◽  
Local Currency ◽  
High Inflation ◽  
Rate Policy ◽  
The Exchange Rate

The level of trust in the local currency in Russia is very low largely because of relatively high inflation. As a result, Bank of Russia during crisis times can not afford monetary policy loosening and has to fight devaluation expectations. To change the situation in the post-crisis period Russia needs to live through a continuous period of low inflation. Modified inflation targeting can help achieve such a result. However, it should be amended with institutional changes, particularly development of hedging instruments.

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