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emerging markets

Publication

Disentangling the exchange rate risk, sectoral export flows and financial development nexus

Heinrich Nel and Anmar Pretorius
This paper examines the differential responses of various emerging market export sectors to exchange rate risk. This paper finds origin in initial theoretical posits of Ethier (1973) and Clark (1973) which both contend that exchange rate risk has a negative impact on the export flows of...
Feb 2018
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Publication

Variance Bounds as Thresholds for ‘Excessive’ Currency Volatility: Inflation Targeting Emerging Economies

Shaista Amod and Shakill Hassan
At what level does a currency’s volatility become ‘excessive’, in a concrete sense? Any claim that an exchange rate is excessively volatile needs a benchmark for ‘normal’variability. We compute variance bounds implied by exchange rate models as the norm, for a set of particularly volatile emerging...
Jan 2015
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Publication

Terms of Trade Shocks and Inflation Targeting in Emerging Market Economies

Seedwell Hove, Albert Touna Mama and Fulbert Tchana Tchana
Emerging market economies (EMEs) have persistently experienced different waves of commodity terms of trade disturbances, generating macroeconomic instabilities. The adoption of in‡flation targeting (IT) by many emerging market economies has raised the questions about its relative suitability in...
Mar 2012
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