The Impact of Oil-Related Income on the Equilibrium Real Exchange Rate in Syria

The Impact of Oil-Related Income on the Equilibrium Real Exchange Rate in Syria / Dridi, Jemma.

This paper examines the impact of oil-related income, among other fundamentals, on the equilibrium real effective exchange rate (ERER) in Syria. After reviewing the evolution of the Syrian multiple exchange rate regime since 1960 and assessing alternative measures for the exchange rate, the paper an...

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Bibliographic Details
Main Author: Dridi, Jemma
Corporate Author: International Monetary Fund
Other Authors: Hasan, Maher
Format: eBook
Language:English
Published: Washington, D.C. : International Monetary Fund, 2008.
©2008
Series:IMF Working Papers ; Working Paper no. 08/196.
Subjects:
Petroleum industry and trade > Syria > Econometric models.
National income > Syria > Econometric models.
Foreign exchange rates > Syria > Econometric models.
Foreign exchange rates > Econometric models
National income > Econometric models
Petroleum industry and trade > Econometric models
Syria
Online Access:Click for online access
Table of Contents:
  • I. Introduction; II. Brief Review of the Literature; III. Exchange System in Syria; A. Exchange System Developments; Figures; 1. Developments of the Official and Free Market Exchange Rates, 1951-2005; B. Which Exchange Rate Should be Used to Measure the Real Effective Exchange Rate?; C. Developments of the Free Market and Weighted Rates; IV. The Role of Oil-Related Income; A. The Concept of Oil-Related Income; 2. Nominal and Real Effective Exchange Rates, 1960-2005; B. The Impact of Oil-Related Income on the Balance of Payments and the Budget; Boxes; 1. Oil-Related Income in Syria
  • 3. Share of Oil-Related Revenues in Total Foreign Exchange Earnings, and Balance of Payments Developments, 1960-2005V. Theoretical Determinants of the Equilibrium Real Exchange Rate and Estimation Results; A. Theoretical Determinants of the Equilibrium Real Exchange Rate; 4. Share of the Oil-Related Revenues in Total Foreign Exchange Earnings and Fiscal Developments, 1960-2005; B. Estimation Results and Data Issues; 5. Real Efffective Exchange Rate and its Theoretical Determinants, 1960-2005; Tables; 1. Unit Root Tests; 2. Multivariate Cointegration Test Results
  • 3. Long-Term Coefficient From Vector Error Correction Model Estimates Using the Free Market Rate6. Government Expenditure and Imports, 1961-2005; 7. REERF, Smoothed and Unsmoothed ERER, and Misalignment, 1960-2005; VI. Conclusions; 8. External Sustainability Assessment; References; Appendixes; I. Exchange System Developments in Syria; II. Detailed ECM Results

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