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

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  • L Söderling

Abstract

In this study, a new sample of 38 manufacturing firms from Cameroon is examined for the period 1980-95. A production function and an export function are estimated in order to study the determinants of TFP and export performance. The results demonstrate a mutually reinforcing relation between productivity and manufacturing export performance. Moreover, the study provides evidence indicating that adequate management of the real exchange rate is a crucial factor for the promotion of manufacturing exports. The performance of the manufacturing sector in Cameroon has deteriorated substantially since the mid-1980s. This decline is to a large degree explained by Dutch disease symptoms and inward-looking policies for the manufacturing sector, resulting in a highly overvalued real effective exchange rate (REER). Based on the estimated export and production functions, a simple dynamic model is constructed to assess the cost of this REER overvaluation, in terms of both productivity and exports.

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  • L Söderling, 2000. "Dynamics of export performance, productivity and real effective exchange rate in manufacturing: the case of Cameroon," Journal of African Economies, Centre for the Study of African Economies, vol. 9(4), pages 411-429.
    • Handle: RePEc:oup:jafrec:v:9:y:2000:i:4:p:411-429.
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    File URL: http://hdl.handle.net/10.1093/jae/9.4.411
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    Cited by:

    1. Mr. Ludvig Söderling, 2002. "Escaping the Curse of Oil? The Case of Gabon," IMF Working Papers 2002/093, International Monetary Fund.

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