Adjustment with a fixed exchange rate : Cameroon, Côte d'Ivoire, and Senegal

Shantayanan Devarajan and Jaime de Melo

This article considers the countries' responses to the commodity and oil price shocks of the 1970s in the light of their inability to use the nominal exchange rate as a tool of macroeconomic adjustment. Using a two-sector model, it shows that there exist instruments that permit the real exchange rate depreciation necessary for adjusting to macroeconomic imbalances. (DSE)

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Year of publication:	1987
Authors:	Devarajan, Shantayanan
Other Persons:	De Melo, Jaime (contributor) ; De Melo, Jaime (contributor)
Published in:	The World Bank economic review. - Oxford [u.a.] : Oxford Univ. Press, ISSN 0258-6770, ZDB-ID 90575-6. - Vol. 1.1987, 3, p. 447-487
Subject:	Wechselkurs \| Exchange rate \| Internationale Wirtschaft \| International economy \| Ölmarkt \| Oil market \| Wirtschaftliche Anpassung \| Economic adjustment \| Elfenbeinküste \| Cote d'Ivoire \| Kamerun \| Cameroon \| Senegal \| 1970-1984

Type of publication:	Article
Type of publication (narrower categories):	Aufsatz in Zeitschrift ; Article in journal
Language:	English
Source:	ECONIS - Online Catalogue of the ZBW

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