Download or read book Cote d Ivoire Competitiveness Cocoa and The Real Exchange Rate written by Carlos Espina and published by World Bank Publications. This book was released on with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Cote D Ivoire written by Zeljko Bogetic and published by . This book was released on 2016 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores competitiveness of Cote d'Ivoire's economy over a long period of 1960-2003 and its link with cocoa prices. The main conclusions are as follows.First, using four measures of real effective exchange rate (REER) for the 1960-2002 period, we track the evolution of REER and conclude, inter alia, that until 2003, REER remained well below its 1994 level.Second, we find that based on our measure of the multilateral REER with dynamic weights, which covers most recorded trade, France no longer dominates Cote d'Ivoire's trade. Instead, Cote d'Ivoire has diversified its set of trading partners. Unfortunately, it has also specialized in one export product, raw cocoa. This paper aims to contribute to the question to what extent do cocoa prices affect Cote d'Ivoire's competitiveness in world trade?Third, the answer to this question is that cocoa prices are an important determinant of Cote d'Ivoire's competitiveness. Similar to the case of a classic quot;Dutch Disease,quot; increases in the real world price of a quot;natural resourcequot; (i.e., cocoa) tend to result in the appreciation of the CFA franc and a loss in competitiveness. Econometric tests further confirm that 1994 was a quot;break-pointquot; not only for growth and productivity (as documented in the two related papers) but also for trade competitiveness. Recent productivity per worker trends versus wages also seem to indicate slow growth in 1996-2000, without major improvement in competitiveness.
Download or read book Cote D Ivoire written by Zeljko Bogetic and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores competitiveness of Cote d'Ivoire's economy over a long period of 1960-2003 and its link with cocoa prices. The main conclusions are as follows. First, using four measures of real effective exchange rate (REER) for the 1960-2002 period, we track the evolution of REER and conclude, inter alia, that until 2003, REER remained well below its 1994 level. Second, we find that based on our measure of the multilateral REER with dynamic weights, which covers most recorded trade, France no longer dominates Cote d'Ivoire's trade. Instead, Cote d'Ivoire has diversified its set of trading partners. Unfortunately, it has also specialized in one export product, raw cocoa. This paper aims to contribute to the question to what extent do cocoa prices affect Cote d'Ivoire's competitiveness in world trade? Third, the answer to this question is that cocoa prices are an important determinant of Cote d'Ivoire's competitiveness. Similar to the case of a classic "Dutch Disease," increases in the real world price of a "natural resource" (i.e., cocoa) tend to result in the appreciation of the CFA franc and a loss in competitiveness. Econometric tests further confirm that 1994 was a "break-point" not only for growth and productivity (as documented in the two related papers) but also for trade competitiveness. Recent productivity per worker trends versus wages also seem to indicate slow growth in 1996-2000, without major improvement in competitiveness.
Download or read book Cote D Ivoire written by Zeljko Bogetic and published by . This book was released on 2007 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores competitiveness of Cote d'Ivoire's economy over a long period of 1960-2003 and its link with cocoa prices. The main conclusions are as follows. First, using four measures of real effective exchange rate (REER) for the 1960-2002 period, we track the evolution of REER and conclude, inter alia, that until 2003, REER remained well below its 1994 level. Second, we find that based on our measure of the multilateral REER with dynamic weights, which covers most recorded trade, France no longer dominates Cote d'Ivoire's trade. Instead, Cote d'Ivoire has diversified its set of trading partners. Unfortunately, it has also specialized in one export product, raw cocoa. This paper aims to contribute to the question to what extent do cocoa prices affect Cote d'Ivoire's competitiveness in world trade? Third, the answer to this question is that cocoa prices are an important determinant of Cote d'Ivoire's competitiveness. Similar to the case of a classic "Dutch Disease," increases in the real world price of a "natural resource" (i.e., cocoa) tend to result in the appreciation of the CFA franc and a loss in competitiveness. Econometric tests further confirm that 1994 was a "break-point" not only for growth and productivity (as documented in the two related papers) but also for trade competitiveness. Recent productivity per worker trends versus wages also seem to indicate slow growth in 1996-2000, without major improvement in competitiveness.
Download or read book Cote d Ivoire Competitiveness Cocoa and The Real Exchange Rate written by Carlos Espina and published by World Bank Publications. This book was released on with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Aid and Reform in Africa written by Shantayanan Devarajan and published by World Bank Publications. This book was released on 2001-01-01 with total page 724 pages. Available in PDF, EPUB and Kindle. Book excerpt: Finally, when the country enters the second generation of reforms, such as public sector institutional reform, short-term, conditionality-based aid can once again be harmful - by reducing ownership, participation, and sustainability of the reform process."--BOOK JACKET.
Download or read book cote d ivoire from success to failure A story of growth specialization and the terms of trade written by zeliko bogeric, john noer, carlos espina and published by World Bank Publications. This book was released on with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Cote d I vorie written by Zeljko Bogetic and published by World Bank Publications. This book was released on with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Policy Research Working Paper Cote d Ivoire Votality Shocks and Growth written by and published by World Bank Publications. This book was released on with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Cote D Ivoire Volatility Shocks and Growth written by Zeljko Bogetic and published by World Bank Publications. This book was released on 2007 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Key economic variables in Cote d'Ivoire vary widely from their long-run trends, moving in multi-year cyclical patterns. Cocoa prices move with cycles in growth rates, capital stock, real exchange rates, terms of trade, cocoa production, and coffee production and output. These patterns have become more pronounced since the 1970s as volatility increased. This paper characterize these cycles, estimates the cocoa price-quantity relationship, and analyzes co-movements due to shocks generate a forecast. Three key conclusions follow. First, the economy of Cote d'Ivoire has experienced two fundamental transitions, one in 1976 related to cocoa, and another in 1994 related to exchange rates. From 1960 to 1976, world cocoa prices grew steadily, and then fell in real terms. The country's growth showed a similar pattern. An econometric model indicates that the relationship between cocoa price and quantity experienced a break in 1976 and provides evidence of Cote d'Ivoire's significant influence on world cocoa prices. Second, cocoa price shocks affect growth rates and trade indicators, and are important sources of volatility in the Cote d'Ivoire. The terms of trade and real exchange rate are also sources of volatility for growth and productivity. Third, a forecast of per-worker output based on these variables predicts continued declines in GDP per worker in Cote d'Ivoire for the near future. This dismal forecast implies the need for a radical and rapid improvement on political, security, and economic management to reverse the two and a half decades of economic decline.
Download or read book Issues in Comparing Poverty Trens Over TIme in Cote d Ivoire written by Christine Jones and published by World Bank Publications. This book was released on 1997 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Cocoa and Coffee Pricing Policies in C te D Ivoire written by Takamasa Akiyama and published by World Bank Publications. This book was released on 1988 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: Facing increasingly tough international competition in coffee and cocoa markets, Côte d'Ivoire can increase export revenues from the two commodities 8 percent in 1995 and about 12 percent in 2000 by increasing coffee production and cutting back on the expansion in cocoa production.
Download or read book How Policy Changes Affected Cocoa Sectors in Sub Saharan African Countries written by Jonathan Roger Coleman and published by World Bank Publications. This book was released on 1993 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ghana's structural adjustment program was very beneficial to its cocoa sector. Although world cocoa prices fell as a result of Ghana's expansion, the decline was much less than that from production expansions by other major producers.
Download or read book Developing Countries In The World Economy written by Jaime De Melo and published by World Scientific. This book was released on 2015-03-26 with total page 634 pages. Available in PDF, EPUB and Kindle. Book excerpt: Differences in the choices of trade and macro policies, both by developing countries and by developed countries towards developing countries, have been critical in determining the overall performance of developing countries. All too often, the performance of developing countries has not been assessed using appropriately conducted studies. The papers in this book are chosen to bridge this gap and show how a quantitative approach to policy evaluation can help resolve controversies and explain the choice of observed policies.The book brings together carefully selected papers that assess the impacts of various trade and macro policies, by quantifying the policies of developing countries at the macro level (exchange rate, investment, savings) and at the sector level (trade and industrial policies), in addition to policies of developed countries towards developing countries (trade preferences, quotas, VERs and migration policies). Facets of the political economy of trade, migration, and climate policies are explored (such as the enlargement of the EU, the rise of regionalism and how it can ease the pains of adjustment to trade liberalization, openness and inequality). Growing tensions between trade and the environment are also investigated. In short, this book covers a wide area of events ranging from external and internal shocks to external and internal policies, showing how the consequences of these events can be brought to rigorous quantitative analysis.
Download or read book C te D Ivoire written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2023-06-12 with total page 137 pages. Available in PDF, EPUB and Kindle. Book excerpt: Consecutive global shocks have led to a widening of macroeconomic imbalances, put a serious strain on public finances as well as regional reserves, and further exposed longstanding constraints to economic transformation. Notwithstanding record growth in the past decade and significant poverty reduction, large social priority and investment spending needs remain, while comparatively weak domestic revenue mobilization poses significant financing constraints. Against this backdrop, the authorities have requested Fund support of 400 percent of quota (SDR 2,601.6 million) for an economic program aimed at meeting pressing financing needs, preserving macroeconomic stability, and anchoring the National Development Plan (NDP) in key structural reforms to support Côte d’Ivoire’s transformation towards upper-middle income status.
Download or read book The Impact of the Strong Euro on the Real Effective Exchange Rates of the Two Francophone African CFA Zones written by Ali Zafar and published by World Bank Publications. This book was released on 2005 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The author estimates the degree of misalignment of the CFA franc since the introduction of the euro in 1999. Using a relative purchasing power parity-based methodology, he develops a monthly panel time series dataset for both the Economic and Monetary Community of Central Africa (CEMAC) zone and the West African Economic and Monetary Union (UEMOA) zone to compute a trade-weighted real effective exchange rate indexed series from January 1999 to December 2004. The author's main finding is that the real effective exchange rate appreciated by close to 8 percent in UEMOA and 7 percent in CEMAC, influenced by volatility in the euro-dollar bilateral exchange rate and conservative monetary policies in the two zones, resulting in a partial loss of competitiveness in export markets. The lower appreciation in Central Africa can be explained by lower inflation in CEMAC than in UEMOA and by the greater trade with higher inflation East Asian countries, partially offset by the peg to the dollar. However, the inclusion of "unrecorded trade" results in an appreciation of only 6 percent in the UEMOA zone and 6 percent in the CEMAC zone due to higher inflation in the two countries with unmonitored cross-border flows, Ghana and Nigeria. Using time series econometrics, an Engle-Granger two stage procedure for cointegration, and an error correction framework, a single equation modeling of the real exchange rate from 1970 to 2005 as a function of terms of trade, economic openness, aid inflows, and a dummy representing the 1994 devaluation, the author finds little statistical evidence of a long-run equilibrium exchange rate that is a vector of economic fundamentals. The dummy explains most of the real exchange rate behavior in the two zones, while openness in UEMOA has contributed to an appreciation of the real effective exchange rate. "--World Bank web site.
Download or read book Alternative Exchange Rate Strategies and Fiscal Performance in Sub Saharan Africa written by Mrs.Stefania Bazzoni and published by International Monetary Fund. This book was released on 1993-08-01 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the relationship between fiscal performance in 28 sub-Saharan African countries over the 1980-91 period with movements in the exchange rates, the terms of trade, and other macroeconomic aggregates. It finds that the tax base in most of these countries is heavily dependent on imports and import substitutes. Consequently, an overvaluation of the exchange rate in countries which adopted a fixed exchange rate strategy undermines the tax base and results in a widening of the fiscal deficit when the purpose of the strategy is to restore the real exchange rate to its equilibrium through fiscal contraction. Those countries which pursued a variable exchange rate strategy failed in attaining price stability, but exchange rate adjustment was critical in contributing to other macroeconomic objectives, particularly fiscal balance, competitiveness, and growth.
