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DC Field | Value | Language |
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dc.contributor.author | Caporale, GM | - |
dc.contributor.author | Amor, TH | - |
dc.contributor.author | Rault, C | - |
dc.coverage.spatial | 20 | en |
dc.date.accessioned | 2009-07-08T15:31:48Z | - |
dc.date.available | 2009-07-08T15:31:48Z | - |
dc.date.issued | 2009 | - |
dc.identifier.citation | Economics and Finance Discussion Paper, Brunel University, 09-16. | en |
dc.identifier.uri | http://bura.brunel.ac.uk/handle/2438/3440 | - |
dc.description.abstract | The aim of this paper is to provide new empirical evidence on the impact of international financial integration on the long-run Real Exchange Rate (RER) in 39 developing countries belonging to three different geographical regions (Latin America, Asia and MENA). It covers the period 1979-2004, and carries out “second-generation” tests for non-stationary panels. Several factors, including international financial integration, are shown to drive the long-run RER in emerging countries. It is found that the new financial environment characterised by international financial integration leads to a depreciation of the RER in the long run. Further, RER misalignments take the form of an under-valuation in most MENA countries and an over-valuation in most Latin American and Asian countries. | en |
dc.format.extent | 428095 bytes | - |
dc.format.mimetype | application/pdf | - |
dc.language.iso | en | - |
dc.publisher | Brunel University | en |
dc.subject | emerging economies; real exchange rate; financial integration; misalignment; secondgenerationpanel unit root and cointegration tests | en |
dc.title | International financial integration and real exchange rate long-run dynamics in emerging countries: Some panel evidence | en |
dc.type | Working Paper | en |
Appears in Collections: | Economics and Finance Dept of Economics and Finance Research Papers |
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