Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/29740 
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dc.contributor.authorCaporale, Guglielmo Mariaen
dc.contributor.authorHadj Amor, Thourayaen
dc.contributor.authorRault, Christopheen
dc.date.accessioned2009-10-27-
dc.date.accessioned2010-02-04T13:05:57Z-
dc.date.available2010-02-04T13:05:57Z-
dc.date.issued2009-
dc.identifier.urihttp://hdl.handle.net/10419/29740-
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
dc.language.isoengen
dc.publisher|aDeutsches Institut für Wirtschaftsforschung (DIW) |cBerlinen
dc.relation.ispartofseries|aDIW Discussion Papers |x941en
dc.subject.jelE31en
dc.subject.jelF0en
dc.subject.jelF31en
dc.subject.jelC15en
dc.subject.ddc330en
dc.subject.keywordEmerging economiesen
dc.subject.keywordreal exchange rateen
dc.subject.keywordfinancial integrationen
dc.subject.keywordmisalignmenten
dc.subject.keywordsecond-generation panel unit-root and cointegration testsen
dc.subject.stwKaufkraftparitäten
dc.subject.stwInternationaler Finanzmarkten
dc.subject.stwMarktintegrationen
dc.subject.stwPanelen
dc.subject.stwUnit Root Testen
dc.subject.stwKointegrationen
dc.subject.stwSchwellenländeren
dc.subject.stwAsienen
dc.subject.stwLateinamerikaen
dc.subject.stwMENA-Staatenen
dc.titleInternational financial integration and real exchange rate long-run dynamics in emerging countries: some panel evidence-
dc.type|aWorking Paperen
dc.identifier.ppn61147123Xen
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:diw:diwwpp:dp941en

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