Impact of the Global Financial Crisis on Exchange Rates and Policies in Sub-Saharan Africa

Kaendera, S and Dixit, S and Ltaifa, N B (2009) Impact of the Global Financial Crisis on Exchange Rates and Policies in Sub-Saharan Africa. Technical Report. International Monetary Fund.

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Abstract

This paper studies the evolution of the exchange rates of sub-Saharan African currencies in the context of the global financial crisis. In particular, it analyzes the reasons behind the differences in the magnitude and volatility of the exchange rates among countries. To this end, it takes a sample of seven countries, four members of the East African Community (EAC) (Kenya, Rwanda, Tanzania, and Uganda), and three others, which experienced large exchange rate losses at the onset of the crisis: Ghana, Nigeria, and Zambia. First, it analyzes the movements of the exchange rates with respect to the U.S. dollar and two other major currencies. Second, it tries to link the magnitude of their movements to key factors, relating to the external environment and the countries’ internal policies.

Affiliation: Indian School of Business
ISB Creiators:
ISB Creators
ORCiD
Dixit, S
UNSPECIFIED
Item Type: Monograph (Technical Report)
Additional Information: The research paper was published by the author with the affiliation of University of Minnesotta.
Uncontrolled Keywords: Exchange rate stability; Exchange rates; exchange rate; foreign exchange; global financial crisis; f
Subjects: Economics
Depositing User: Veeramani R
Date Deposited: 15 May 2019 15:05
Last Modified: 15 May 2019 15:05
URI: http://eprints.exchange.isb.edu/id/eprint/958
Publisher URL: https://www.imf.org/external/pubs/cat/longres.aspx...
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