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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Namibia's real exchange rate performance
Author:Miyajima, KenISNI
Year:2009
Periodical:South African Journal of Economics
Volume:77
Issue:2
Pages:228-244
Language:English
Geographic term:Namibia
Subjects:exchange rates
competition
Link:http://onlinelibrary.wiley.com/doi/10.1111/j.1813-6982.2009.01211.x/pdf
Abstract:To assess Namibia's external competitiveness, this study estimates the country's equilibrium real exchange rate using the autoregressive distributed lag modelling approach that has superior small-sample properties. The nominal depreciation of the Namibia dollar in 2002 created historically one of the largest deviations in the real exchange rate from its equilibrium level, but deviations are small at present. The half-life of deviations from equilibrium is found to be about 1 year. App., bibliogr., notes, ref., sum. [Journal abstract]
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