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Dollars en solde : politique de change et inflation au Nigéria (1980-1993)

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  • Jean-Paul Azam

Abstract

[eng] Dollars for sale : exchange rate policy and inflation in Nigeria (1980-1993).. . The rate of inflation in Nigeria became larger and more unstable after the adoption of the structural adjustment program in 1986 than before. On the contrary, the premium on foreign currencies in the parallel market has gone down. But, the government is there a seller of foreign currencies, so that the premium is a loss for the budget. These stylised facts are interpreted in the light of an analytical model with rational expectations. The effects of a policy of indexing the officiel exchange rate are opposed to those of a nominal anchor policy. [fre] Le taux d'inflation au Nigeria est devenu plus fort et plus instable après l'adop­tion du programme d'ajustement structurel en 1986 qu'avant. Au contraire, la prime sur les devises au marché parallèle s'est réduite. Or le gouvernement est ici un vendeur de devises, de sorte que la prime de change est un manque à gagner budgétaire. On interprète ces faits stylisés à la lumière d'un modèle analytique avec anticipations rationnelles. On oppose les effets d'une politique d'indexation du taux de change officiel à ceux d'une politique d'ancrage nominal.

Suggested Citation

  • Jean-Paul Azam, 1995. "Dollars en solde : politique de change et inflation au Nigéria (1980-1993)," Revue Économique, Programme National Persée, vol. 46(3), pages 727-737.
    • Handle: RePEc:prs:reveco:reco_0035-2764_1995_num_46_3_409683
    DOI: 10.3406/reco.1995.409683
    Note: DOI:10.3406/reco.1995.409683
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    References listed on IDEAS

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