Dynamics of export performance, productivity and real effective exchange rate in manufacturing: the case of Cameroon

Söderling, Ludvig

doi:10.1093/jae/9.4.411

Cited by 15 publications

(9 citation statements)

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“…Cottani et al, 1990;Devarajan, 1997;Soderling, 2000). The purpose of this study is to see whether the same overvaluation of the CFA franc exists for the post-devaluation period.…”

Section: Discussionmentioning

confidence: 97%

Misalignment of the real exchange rate in the African Financial Community (CFA zone) and its policy implications

Etta-Nkwelle

Jeong

Fanara

2010

Applied Financial Economics

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The purpose of this study is to see whether the same pre-devaluation overvaluation (1980 to 1993) of the Communaute Financiere Africaine (CFA) franc exists for the post-devaluation period (1995 to 2004). As overvaluation can have significant negative impacts on exports, it is imperative to investigate whether this has continued. First, we found that the same overvaluation exists for the post-devaluation period. Second, we observe that post-devaluation, the overvaluation trend has been reverting and recurring downwards until 1999 and 2000 and steadily increasing since 2001. In fact, the average overvaluation for the zone is estimated at 25% in 2004 which is about 85% of the pre-devaluation level. Third, the economies where agriculture dominates are more overvalued than the economies where agriculture does not dominate. This stylized fact is similar to pre-devaluation observations by Devarajan (1997). Fourth, we also found that the oil producing countries are less overvalued than the nonoil producing countries; and the middle income economies are less overvalued than lower income economies. The latter two stylized facts are contrary to the pre-devaluation dynamics observed by Devarajan (1997). Finally, the empirical analysis suggests that the anticipated contribution of the parity relationship to the overvaluation of the currency is minimal. Instead, the macroeconomic variables that have the most negative influences on the Real Exchange Rate (RER) of the CFA franc are terms of trade shocks, increases in investment and aid inflow.

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“…Cottani et al, 1990;Devarajan, 1997;Soderling, 2000). The purpose of this study is to see whether the same overvaluation of the CFA franc exists for the post-devaluation period.…”

Section: Discussionmentioning

confidence: 97%

Misalignment of the real exchange rate in the African Financial Community (CFA zone) and its policy implications

Etta-Nkwelle

Jeong

Fanara

2010

Applied Financial Economics

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“…De ce fait, le fait pour une entreprise d'avoir accès au marché des exportations accroît sa probabilité d'améliorer sa performance, puisque ladite probabilité passe d'environ 5,54/10 quand elle n'a pas accès au dit marché à 7,7/10 quand elle y a accès. Ceci vient appuyer les résultats de Söderling (2000), qui trouvent que l'accès au marché des exportations permet aux entreprises d'avoir de meilleures performances.…”

Section: L'analyse Statistiqueunclassified

Effect of the Access to the Export Market on the Performance of SMEs in Cameroon

Nyaga¹

2019

JIBE

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The objective of this study is to analyse the effect of the access to the export market on the performance of SMEs in Cameroon. Statistical analysis and the multiple regression model are used. Statistical analysis shows that the fact that an SME has access to the export market increases its probability of improving its performance index since this probability increases from 5.54/10 when it does not have access to the export market to 7.7/10 when it has access. In addition, the positive and significant effect of export market access on the performance of the SME is confirmed by the regression model.

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“…Söderling (2000) and Sekkat and Varoudakis (2000) estimate that the overvalued exchange rate hurt manufacturing exports by 30-100 percent. However, in the context of OPAC, an interesting point is that all the economies experienced exchange rate devaluation at some point after the first oil shock.…”

Section: A Africa's Oil Riches and Competitivenessmentioning

confidence: 99%

Africa's Oil Abundance and External Competitiveness: Do Institutions Matter?

Qureshi

2008

IMF Working Papers

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This paper examines the structural competitiveness of oil-rich economies in sub-Saharan Africa relative to other major oil-exporting developing countries, and investigates the reasons for systematic differences in the non-oil export performance across these economies. The analysis reveals that oil-rich Africa lags behind other oil-exporters in terms of diversification, global market share and the overall investment climate. The poor performance of their nonoil sector can be largely attributed to weak infrastructure and institutional quality. The results also show that institutional quality is a significant determinant of the extent to which oil abundance affects the competitiveness of the non-oil sector; thereby explaining the divergent experiences of oil-rich economies across the world. This implies that oil wealth does not necessarily weaken the non-oil tradable sector; countries may mitigate the impact of Dutch disease and benefit from oil booms if revenues are used prudently to reduce oil dependence.

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Dynamics of export performance, productivity and real effective exchange rate in manufacturing: the case of Cameroon

Cited by 15 publications

References 0 publications

Misalignment of the real exchange rate in the African Financial Community (CFA zone) and its policy implications

Misalignment of the real exchange rate in the African Financial Community (CFA zone) and its policy implications

Effect of the Access to the Export Market on the Performance of SMEs in Cameroon

Africa's Oil Abundance and External Competitiveness: Do Institutions Matter?

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