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https://hdl.handle.net/10419/30685
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DC Field | Value | Language |
---|---|---|
dc.contributor.author | Caporale, Guglielmo Maria | en |
dc.contributor.author | Amor, Thouraya Hadj | en |
dc.contributor.author | Rault, Christophe | en |
dc.date.accessioned | 2009-11-02 | - |
dc.date.accessioned | 2010-05-14T08:24:01Z | - |
dc.date.available | 2010-05-14T08:24:01Z | - |
dc.date.issued | 2009 | - |
dc.identifier.uri | http://hdl.handle.net/10419/30685 | - |
dc.description.abstract | The 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.iso | eng | en |
dc.publisher | |aCenter for Economic Studies and ifo Institute (CESifo) |cMunich | en |
dc.relation.ispartofseries | |aCESifo Working Paper |x2819 | en |
dc.subject.jel | E31 | en |
dc.subject.jel | F00 | en |
dc.subject.jel | F31 | en |
dc.subject.jel | C15 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | emerging economies | en |
dc.subject.keyword | real exchange rate | en |
dc.subject.keyword | financial integration | en |
dc.subject.keyword | misalignment | en |
dc.subject.keyword | second-generation panel unit-root and cointegration tests | en |
dc.subject.stw | Kaufkraftparität | en |
dc.subject.stw | Internationaler Finanzmarkt | en |
dc.subject.stw | Marktintegration | en |
dc.subject.stw | Panel | en |
dc.subject.stw | Unit Root Test | en |
dc.subject.stw | Kointegration | en |
dc.subject.stw | Schwellenländer | en |
dc.subject.stw | Asien | en |
dc.subject.stw | Lateinamerika | en |
dc.subject.stw | MENA-Staaten | en |
dc.title | International financial integration and real exchange rate long-run dynamics in emerging countries : some panel evidence | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 611986922 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
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