Senegal; Selected Issues

This Selected Issues paper analyzes Senegalâ€™s real effective exchange rate (REER) and external competitiveness. A REER significantly above its equilibrium, as determined by economic fundamentals, can impede a countryâ€™s external competitiveness, calling for corrective macroeconomic measures. This paper finds no conclusive evidence of a REER overvaluation, implying that structural reforms are key to improving Senegalâ€™s external competitiveness. The paper also describes Senegalâ€™s export performance, developments of the REER, and an empirical analysis of the equilibrium REER. Structural measures of competitiveness are also illustrated.

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Year of publication:	2008-07-08
Institutions:	International Monetary Fund (IMF) ; International Monetary Fund
Subject:	Real effective exchange rates \| Customs policy \| Global competitiveness \| Energy prices \| Revenues \| reer \| export performance \| world exports \| terms of trade \| global exports \| world markets \| export markets \| export sector \| trading partners \| exports of goods \| net exports \| oil exports \| unit labor costs \| export of goods \| share of world exports \| trade liberalization \| total exports \| current account balance \| skilled labor \| international trade \| export production \| unemployment rate \| transport prices \| investor confidence \| import consumption \| current account deficit \| exchange rate policy \| diversification of exports \| re-exports \| export base \| world prices \| real effective exchange rate \| skilled workers \| member country \| trade agreements \| exchange rate depreciation \| international trade agreements

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Extent:	application/pdf
Series:	IMF Staff Country Reports.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series IMF Staff Country Reports Number 08/221 5 pages long
Source:	RePEc - Research Papers in Economics

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