Exchange rate misalignment and its relationship to output growth in South Africa : background note for the South Africa systematic country diagnostic (anglais)

This paper establishes a simple theory-based real exchange rate (RER) Misalignment Index for countries around the world from 1950-2014, and shows that South Africa’s RER has been undervalued over the last decade. For the most recent year of 2014, depending on the proxy for productivity, it is undervalued from about 15 percent to 18 percent. The analysis suggests that terms of trade fluctuations explain a large part of the undervaluation. This study...

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Auteur

Nguyen, Ha;
Date du document
2018/06/01
Type de document
Document de travail
Numéro du rapport
127307
Volume
1
Total Volume(s)
1
Pays
Afrique du Sud,
Région
Eastern And Southern Africa,
Date de publication
2018/06/18
Disclosure Status
Disclosed
Titre du rapport
Exchange rate misalignment and its relationship to output growth in South Africa : background note for the South Africa systematic country diagnostic
Mots clé
real exchange rate

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Exchange rate misalignment and its relationship to output growth in South Africa : background note for the South Africa systematic country diagnostic (anglais)

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