The story of the choice of exchange rate regimes has not yet come to a consensus. Between early works on the subject (Mundell, 1961; McKinnon, 1963) and the most recent (Frenkel, 2017; Guzman et al., 2017), no superiority of a foreign exchange regime on the others is established ad vitam aeternam....

The story of the choice of exchange rate regimes has not yet come to a consensus. Between early works on the subject (Mundell, 1961; McKinnon, 1963) and the most recent (Frenkel, 2017; Guzman et al., 2017), no superiority of a foreign exchange regime on the others is established ad vitam aeternam....

We study the nonlinear dynamics of the real exchange rate towards its behavioral equilibrium value (BEER) using a Panel Smooth Transition Regression model framework.We show that the real exchange rate convergence process in the long run is characterized by nonlinearities for emerging economies,...

The aim of this paper is to investigate the link between currency misalignments and economic growth. Relying on panel cointegration techniques, we calculate real exchange rate (RER) misalignments as deviations of actual RERs from their equilibrium values for a set of advanced and emerging...

In this paper, we rely on panel cointegration techniques to estimate the equilibrium exchange rate of the CFA Franc according to the BEER approach (Behavioural Equilibrium Exchange Rate). Examination of the CFA Franc estimated misalignments revealed that flexibility for the CFA zone in terms of...

This paper focuses on agency theory to explain investment behavior difference between private domestic and foreign in Senegalese industry. We put domestic companies into two groups with regard to managerial ownership and institutional ownership. An augmented accelerator model with demand...

The Tunisian banks currently operate in a very competitive environment. Long-term viability of this sector depends on its degree of efficiency. Therefore a study relating to the determinants of X-Efficiency in Tunisian banks is of major interest. For that purpose, we made recourse to an...

In recent years, a number of studies have shown that institutions are crucial to economic development. This literature has highlighted a relationship between the quality of the macro-institutional environment and the performance of reform policies conducted in some key sectors of the economy....

Economic integration in WAEMU is manifested among others policies, by tariffs reductions in order to reinvigorate economic and trade relationshiph between member countries. This study show that the first trade agreement establish after WAEMU creation, has contributed to reduce per capita income...