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Taux de change réel et production manufacturière en Afrique : quels impacts ?

Author

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  • Sylviane Guillaumont Jeanneney
  • Ping Hua

Abstract

A recent current of literature has suggested that low-income countries should systematically undervalue their currencies and adopt a floating exchange rate regime for their industrialization. Over the period 2000-2015, this article estimates the impact of real exchange rates of 40 sub-Saharan African countries, the majority of which are low-income and have a fixed exchange rate regime, on their manufacturing value added. It appears that the real exchange rates of African currencies against the dollar and the euro have little impact on manufacturing output; but their appreciation vis-à-vis the renminbi (in condition to remain moderate) favors the growth of manufacturing industry in Africa, while that vis-à-vis other developing countries? currencies handicaps its industry development. The diversity of these results does not favor a systematic depreciation of African currencies. Codes JEL : F31, F41, F62.

Suggested Citation

  • Sylviane Guillaumont Jeanneney & Ping Hua, 2018. "Taux de change réel et production manufacturière en Afrique : quels impacts ?," Revue d’économie du développement, De Boeck Université, vol. 26(2), pages 83-112.
    • Handle: RePEc:cai:edddbu:edd_322_0083
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    Citations

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    Cited by:

    1. Abdallah, Ali, 2022. "Dépréciation réelle de la monnaie et croissance économique [Can real currency depreciation lead growth?]," MPRA Paper 113183, University Library of Munich, Germany.
    2. Yselle F. Malah Kuete & Simplice A. Asongu, 2023. "Infrastructure Development as a Prerequisite for Structural Change in Africa," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 14(2), pages 1386-1412, June.
    3. Kirsi Zongo & Mahamadou Diarra, 2022. "Exchange Rate Misalignments, Foreign Direct Investment and Industrial Performance in Sub-Saharan Africa [Désalignements du taux de change, investissements directs étrangers et performances industri," Working Papers hal-03649887, HAL.

    More about this item

    Keywords

    real exchange rate; manufacturing production; Africa;
    All these keywords.

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • F62 - International Economics - - Economic Impacts of Globalization - - - Macroeconomic Impacts

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