Exchange rate volatility and pass‐through to inflation in South Africa

Miyajima, Ken

doi:10.1111/1467-8268.12448

Cited by 9 publications

(6 citation statements)

References 35 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…As robustness check, we include the monthly nominal exchange rate US$/FCFA in the baseline regression to test whether the exchange rate fluctuations affect inflation (London, 1989; Miyajima, 2020) in WAEMU countries. The inclusion of the nominal exchange rate US$/FCFA in the baseline regression does not change the main findings of the paper.…”

Section: Resultsmentioning

confidence: 99%

COVID‐19 policy responses, inflation and spillover effects in the West African Economic and Monetary Union

Coulibaly

2021

African Development Review

View full text Add to dashboard Cite

This paper contributes to the emerging literature on the socioeconomic impacts of the coronavirus disease 2019 (COVID‐19) pandemic by using a panel fixed effects model for estimating the impact of government policy responses to the pandemic and their spillover effects on the consumer price index for West African Economic and Monetary Union (WAEMU) countries over the period January 2019–July 2020. Across various robustness checks, the OLS and IV regressions provide three major pieces of evidence. First, the COVID‐19 confirmed cases positively affect the consumer price index while the overall government policy responses index has a negative impact on the consumer price index. Second, we find that government accommodative policies to COVID‐19 in other countries has a positive and statistically significant impact on the host country's consumer price index. Finally, the findings indicate that world food prices and oil prices positively affect the consumer price index. These results suggest that policymakers may consider intensifying the implementation of public policies in response to the pandemic for preserving the stability of prices when the sanitary situation of the COVID‐19 deteriorates. While confirming that international prices are among the key drivers of inflation in WAEMU countries, our findings also reiterate the importance of regional cooperation and coordination for fighting the adverse socioeconomic impacts of the COVID‐19 pandemic.

show abstract

Section: Resultsmentioning

confidence: 99%

COVID‐19 policy responses, inflation and spillover effects in the West African Economic and Monetary Union

Coulibaly

2021

African Development Review

View full text Add to dashboard Cite

show abstract

“…The results show the presence of a nonlinear relationship, with a higher pass-through coefficient when the output growth rate is high. Miyajima (2020) analyzes the relationship between the effect of exchange rate volatility and pass-through on the inflation rate in South Africa. The results, estimated using Granger causality, suggest that higher exchange rate volatility tends to increase core inflation, but to a relatively limited extent.…”

mentioning

confidence: 99%

Exchange rate pass‐through to import prices: Evidence from a heterogeneous panel of West African countries

Kinda¹,

Barry

2021

Review Development Economics

View full text Add to dashboard Cite

This study analyzes the effect of exchange rate pass‐through (ERPT) on the import prices of West African countries. We used a heterogeneous dynamic panel over the period 1991–2018 and estimated the ERPT using the pooled mean group, mean group, and augmented mean group. The results show that an exchange rate appreciation of 1% in the short term leads to a decrease in the price of imports by 0.25% and 0.20%, respectively, for the West African Economic and Monetary Union (WAEMU) countries and those outside the WAEMU zone. However, considering other countries, we find that the ERPT has a long‐term effect and causes a rise in import prices of 0.83%. This effect depends on the level of inflation. Thus, the pass‐through effect appears to be heterogeneous across countries.

show abstract

“…The results obtained here show that hypothesis 1 was fulfilled. This means that consumer price inflation had a negative statistical effect on food sovereignty, as it was based on the notion that inflation has serious adverse effects on society [52][53][54], especially on food prices. This price volatility affects access to food, which causes governments to frequently resort to subsidies in the agricultural sector, in order to ease the cost of food in households with economic limitations [55][56][57][58].…”

Section: Discussionmentioning

confidence: 99%

Food Autonomy within Food Sovereignty: Evidence from a Structural Model

2022

View full text Add to dashboard Cite

Food sovereignty as a model to solve food problems is being used in political, economic, and agricultural thought, but academic literature does not offer insight into its impact and the dimension of food autonomy. We have chosen to study Ecuador, given that, in 2008, the country reformed its constitution and adopted the concept of food sovereignty as a right of the Ecuadorian people, being the first country to do so. In this article, we apply the multiple indicators and multiple causes model to uncover scientific findings with the observable data available, and estimate the phenomenon of food sovereignty, which will be called the latent variable. The article aims to determine the main indicators associated with a synthetic index of food sovereignty and one that integrates a measurement model. In order to meet the goal of this research, eight hypotheses are raised, of which four are confirmatory and four are exploratory. The exploratory hypotheses are given because the theoretical foundations contradict themselves in favor of and against the latent variable. The findings of the statistical model relate to inflation, cereal yield, agricultural-value added, prevalence of malnutrition, food export, and food import as causes and indicators that are part of food sovereignty.

show abstract

Exchange rate volatility and pass‐through to inflation in South Africa

Cited by 9 publications

References 35 publications

COVID‐19 policy responses, inflation and spillover effects in the West African Economic and Monetary Union

COVID‐19 policy responses, inflation and spillover effects in the West African Economic and Monetary Union

Exchange rate pass‐through to import prices: Evidence from a heterogeneous panel of West African countries

Food Autonomy within Food Sovereignty: Evidence from a Structural Model

Contact Info

Product

Resources

About