Unravelling the devaluation puzzle: Empirical insights into the transmission channel on balance of payments and output in Ethiopia
Yigermal Maru Ayinewa,
Mesele Belay Zegeye,
Tesfahun Ayanaw Alemu
et al.
Abstract:Background Empirical studies on the impact of devaluation in developing countries, including Ethiopia, have revealed diverse and mixed results. The effects can be positive or negative depending on the specific economic context and policies in place.This study addresses the devaluation puzzle by providing a more comprehensive and nuanced understanding of how devaluation affects the balance of payments and output. Methods To achieve this, we employ a recursive structural vector autoregressive (SVAR) model focusi… Show more
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