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dc.contributor.authorCaporale, Guglielmo Mariaen_US
dc.contributor.authorAmor, Thouraya Hadjen_US
dc.contributor.authorRault, Christopheen_US
dc.date.accessioned2009-11-02en_US
dc.date.accessioned2010-05-14T08:24:01Z-
dc.date.available2010-05-14T08:24:01Z-
dc.date.issued2009en_US
dc.identifier.urihttp://hdl.handle.net/10419/30685-
dc.description.abstractThe aim of this paper is to provide new empirical evidence on the impact of international financial integration on the long-run Real Exchange Rate (RER) in 39 developing countries belonging to three different geographical regions (Latin America, Asia and MENA). It covers the period 1979-2004, and carries out second-generation” tests for non-stationary panels. Several factors, including international financial integration, are shown to drive the long-run RER in emerging countries. It is found that the new financial environment characterised by international financial integration leads to a depreciation of the RER in the long run. Further, RER misalignments take the form of an under-valuation in most MENA countries and an over-valuation in most Latin American and Asian countries.en_US
dc.language.isoengen_US
dc.publisherCESifo Münchenen_US
dc.relation.ispartofseriesCESifo working paper 2819en_US
dc.subject.jelE31en_US
dc.subject.jelF00en_US
dc.subject.jelF31en_US
dc.subject.jelC15en_US
dc.subject.ddc330en_US
dc.subject.keywordemerging economiesen_US
dc.subject.keywordreal exchange rateen_US
dc.subject.keywordfinancial integrationen_US
dc.subject.keywordmisalignmenten_US
dc.subject.keywordsecond-generation panel unit-root and cointegration testsen_US
dc.subject.stwKaufkraftparitäten_US
dc.subject.stwInternationaler Finanzmarkten_US
dc.subject.stwMarktintegrationen_US
dc.subject.stwPanelen_US
dc.subject.stwUnit Root Testen_US
dc.subject.stwKointegrationen_US
dc.subject.stwSchwellenländeren_US
dc.subject.stwAsienen_US
dc.subject.stwLateinamerikaen_US
dc.subject.stwMENA-Staatenen_US
dc.titleInternational financial integration and real exchange rate long-run dynamics in emerging countries : some panel evidenceen_US
dc.typeWorking Paperen_US
dc.identifier.ppn611986922en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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