This paper explores the impact of nominal exchange rate devaluation on the trade balance for Malawi. A small-open economy IS-LM aggregate supply model of Malawi estimated using time series data covering the period 1967-96 is used in the simulation analysis. The results of the simulation experiment show that devaluation helps to improve export performance and to curtail the growth of imports in the long run, which lead to improvement in the trade balance position. The results provide evidence supporting the view that nominal devaluation can indeed be a quite powerful tool in minimizing the imbalances in Malawi's international trade.Re´sume´: Le pre´sent article analyse l'incidence de la de´valuation du taux de change nominal sur la balance commerciale du Malawi. Ses auteurs se servent d'un mode`le IS-ML d'entreprise en e´conomie ouverte spe´cialise´e dans la fourniture d'agre´gats, cense´utiliser des donne´es chronologiques concernant la pe´riode 1967 a`1996, a pour effectuer cette analyse. Les re´sultats de cet exercice de simulation montrent que la de´valuation contribue, a`long terme, a`ame´liorer la qualite´des exportations -et, partant, la situation de la balance commerciale -et a`freiner la croissance des importations. Ils viennent, en outre, appuyer la the´orie selon laquelle la de´valuation peut, en re´alite´, contribuer sensiblement a`re´duire les de´se´quilibres du commerce international au Malawi.
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