Exchange rate

think it’s more risky As a result the cost (interest) of direct finance is higher because of higher risk of not settling back the loan: the lender has no insurance since there are no intermediaries. As a result the lender will ask for a better return rate, which is obvious. Difference between direct investment and portfolio management: Foreign direct investment (FDI) pertains to international investment in which the investor obtains a lasting interest in an enterprise in another country. Most

la lumière de ce constat, ce papier traitera de l’impact de la politique de change sur l’économie réelle au Maroc au travers d’un modèle empirique composite appelé « modèle de taux de change comportemental d’équilibre » (Behavioural Equilibrium Exchange Rate) développé par Clark et MacDonald (1997). Notre étude traite de l’efficacité de régime de change adopté par le Maroc et la capacité de Dirham à résister aux chocs de mésalignements et sa capacité à gérer le régime de change. Ayant utilisée la méthode

re-translated at the balance sheet date at the exchange rate at that date. 4.2 Ensure that hedge accounting practices in accordance with IAS-39 have been followed with regard to any balances covered under forward exchange contracts. 4.3 Obtain a schedule of re-translation, from rate at initial recognition and at balance sheet date, of all balances. Cross-refer exchange differences with financial charges/other income. 4.4 Where the company uses forward exchange contracts, such contracts should be accounted

and export bases (Hausmann and Rigobon, 2003; Devlin and Lewin, 2004). Third, in spite of their resource wealth, a large number of them are classified as severely indebted countries with high levels of external debt, making them vulnerable to exchange rate fluctuations induced by volatile resource prices (Manzano and Rigobon, 2007). This paper discusses some of the challenges that confront oil-rich developing countries in their development path. These challenges include Dutch disease-related phenomena

l’analyse pour s’interroger sur le contenu à donner à la spécialisation et à l’ouverture pour rendre plus efficace une stratégie d’insertion à l’économie internationale. EXCHANGE RATE AND ECONOMIC GROWTH IN THE MAGHREB COUNTRIES ABSTRACT – The study deals with the relation of the foreign exchange (real effective rate, misalignment and regime) and the openess to the economic growth in the Maghreb. The results reveal different profiles of growth over the period 1966-2003. Although belonging

2000. Equilibrium exchange rate in selected MENA countries. Proceedings of the International Symposium of Forecasting, Lisbon, June 2000. 3. Ahlers, T., Hinkle L., 1999. Estimating the equilibrium RER: operational approaches, in Hinkle and Montiel (Eds), Exchange Rate Misalignment, Oxford University Press, New York. 4. Ba¤es, J., Elbadawi, I., O’Connell, S., 1999. Single-equation estimation of the equilibrium real exchange rate, in Hinkle and Montiel (Eds), Exchange Rate Misalignment, Oxford

publiques et d'émission de monnaie aux objectifs économiques internes (produit national en volume) et externe (balance des paiements), ce quel que soit le régime de change en vigueur. Abstract The optimal policy mix in a fixed and flexible exchange rate system under the constraint of financing monetary and public expenditure policies This article analyses the effects of financing of public expenditure and of the issue of money on certain characteristic variables of economic activity: real national

d'un pays à un autre. The Economist's Big Mac index is based on the theory of “purchasing-power parity”. Under PPP, exchange rates ought to adjust to equalise the price of a basket of goods and services across countries. Our basket is the Big Mac. Dividing the American price of a Big Mac, $2.59, by the British price, £1.99, implies a PPP exchange rate of $1.30. The market rate is $1.45, making sterling 12% overvalued. By this measure, the South African rand is undervalued by 68%. 

5th world economic power, behind the United States, Japan, China, Germany and in front of UK. In 2009, the value of its Gross domestic product (GDP) is 1 950,1 billions Euros. France is classified in the 38th rank for the GDP per capita at the exchange rate nominal, slightly below the average of the EU, which is 37th. In classification by GDP in PPA, France is the 9th economic power. France is a part of founding countries of the European Union and of the Euro zone. In the heart of an economically

Centre Working Paper No.285 DEV/DOC(2010)2 I. INTRODUCTION For forty years between 1965 and 2004, the G7 economies accounted for an average of 65 per cent of global GDP measured at market exchange rates. Despite major events in the global economy—the collapse of the Bretton Woods fixed exchange rate arrangement in 1971, oil price spikes in 1973 and 1979, stagflation, the fall of the Berlin Wall and dismantling of the Soviet Union—the share of the G7 in the global economy always stayed within