It has been observed that following a depreciation of the real exchange rate, a country's trade balance may immediately deteriorate in the short run before showing any positive long run effects. This phenomenon is referred to as the J-curve hypothesis in the literature. Previous…
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This dissertation analyses the benefits and costs of currency unions, focusing on the proposed West African Monetary Zone (WAMZ), which consists of The Gambia, Ghana, Guinea, Nigeria, and Sierra Leone. The economic structure of the zone is characterized by low economic growth an…
This dissertation is an empirical study of the effects of exchange rate changes on economic activities in the CFA Franc Zone. Specifically, this study uses three econometric methodologies to investigate the responses of the trade balance and output to changes in the exchange rat…
There is little literature with respect to the African countries about the impacts of transition from a command economic system, where the government makes major economic decisions, to a market-based economic system, where firms and individuals make the economic decisions. The p…
The first chapter of this thesis provides empirical evidence on the role of fundamentalists and technicians in determining the movement of the exchange rate for a currency which is pegged to a basket of currencies. This paper uses a new data set and a new fundamental variable. T…
This dissertation consists of three essays. In the first essay, I shed light on the effect of exchange rate volatility on trade volume, using ARCH-GARCH, or autoregressive conditional heteroskedasticity-generalized (ARCH) models, to generate a measure of exchange rate volatility…