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Grants, Remittances, and the Equilibrium Real Exchange Rate in Sub-Saharan African Countries

Grants, Remittances, and the Equilibrium Real Exchange Rate in Sub-Saharan African Countries by Joannes Mongardini
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This paper builds on the methodology developed by Chudik and Mongardini (2007) to estimate the relationship between grants and remittances and the equilibrium real exchange rate in Sub-Saharan African (SSA) countries using panel techniques. The results indicate that grants and remittances are not associated, in the long run, with an appreciation of the real effective exchange in SSA and are therefore not likely to give rise to Dutch disease effects. These findings suggest that grants and remittances may be serving to ease supply constraints or boost productivity in the non-tradable sector in the recipient economies.
International Monetary Fund; April 2009
27 pages; ISBN 9781452710723
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Title: Grants, Remittances, and the Equilibrium Real Exchange Rate in Sub-Saharan African Countries
Author: Joannes Mongardini; Brett Rayner