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The impact of trade and exchange-rate policy reforms on North African manufactured exports

par Sekkat, Khalid ;Varoudakis, Aristomene
Référence Development Policy Review, 20, 2, page (117-189)
Publication Publié, 2002-05

Article révisé par les pairs

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Résumé :

Three indicators capture the impact of exchange-rate policy in fostering manufactured exports from North Africa: changes in the real effective exchange rate (REER), its volatility, and its misalignment. The impact of trade policy is examined using a trade liberalisation indicator. Export supply equations are estimated for three manufacturing industries: textiles, chemicals, and food. The results suggest that trade and exchange-rate policies matter for export performance, as is evidenced by the negative influence exerted independently by real exchange-rate misalignment and volatility and by the positive influence of trade liberalisation.