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題名：Nominal Exchange Rates and Price Convergence in the West African Monetary Zone
書刊名：International Journal of Business and Economics
作者：Alagidede, Paul／Tweneboah, George／Adam, Anokye M.
出版日期：2008
卷期：7:3
頁次：頁181-198
主題關鍵詞：Purchasing power parity；Real exchange rate stationarity；Convergence；West African monetary zone
原始連結：連回原系統網址new window
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  • 被引用次數被引用次數:期刊(1) 博士論文(0) 專書(0) 專書論文(0)
  • 排除自我引用排除自我引用:1
  • 共同引用共同引用:0
  • 點閱點閱:23
Abstract We investigate nominal exchange rates and nominal price convergence in the West African Monetary Zone. Using data for the first quarter of 1974 through the first quarter of 2007, we find that real exchange rates in The Gambia, Ghana, Nigeria, and Sierra Leone follow a random walk. Further, we show that nominal exchange rates and nominal prices adjust at different speeds to achieve long-run purchasing power parity, with the former adjusting faster than the latter. Finally, we argue that the success (or otherwise) of a second monetary zone in West Africa depends on well coordinated macroeconomic policies and on minor divergence in prices and exchange rates to eliminate excessive arbitrage profits that may arise.
期刊論文
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32.Kargbo, J. M.(2000)。Impacts of Monetary and Macroeconomic Factors on Food Prices in Eastern and Southern Africa。Applied Economics，32，1373-1389。  new window
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39.MacDonald, R.、Ricci, L.(2001)。PPP and the Balassa Samuelson Effect: The Role of the Distribution Sector。IMF Working Paper，01/38。  new window
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研究報告
1.Krichene, N.(1998)。Purchasing Power Parities in Five East African Countries: Burundi, Kenya, Rwanda, Tanzania, and Uganda。  new window
圖書
1.Cassel, G.(1922)。Money and Foreign Exchange after 1914。New York：MacMillan。  new window
2.Davidson, Russell、MacKinnon, James G.(1993)。Estimation and Inference in Econometrics。Oxford University Press。  new window
3.International Monetary Fund(2007)。Regional Economic Outlook。Washington, DC。  new window
4.International Monetary Fund(2008)。International Financial Statistics。Washington, DC。  new window
5.World Bank(2006)。African Development Indicators 2006。New York。  new window
6.Central Intelligence Agency,(2007)。The World Factbook。Washington, D.C.。  new window
7.Dornbusch, R.(1988)。Exchange Rates and Inflation。Cambridge, MA。  new window
8.Roll, R.(1979)。Violation of Purchasing Power Parity and Their Implications for Efficient International Commodity Markets。International Finance and Trade。Cambridge, MA。  new window
其他
1.Aggarwal, R.，Simmons, W.(2002)。Purchasing Power Parity and Economic Integration among Caribbean Countries: Evidence from the 1980s and 1990s，http://www.econmodel.com/。  new window
圖書論文
1.Froot, K. A.、Rogoff, K.(1995)。Perspectives on PPP and Long-run Real Exchange Rates。Handbook of International Economics。Amsterdam：North-Holland。  new window
2.Mackinnon, J. G.(1991)。Critical Values for Cointegration Tests。Long-Run Economic Relationships: Readings in Cointegration。New York。  new window
 
 
 
 
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