The Euro and the Production Structure and Export Performance of Middle East and North African Countries

January 1, 1999

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This paper explores the link between exchange rate volatility of European currencies and economic performance of several countries in the Middle East and North Africa (MENA). The elimination of intra euro-zone exchange rate volatility resulting from the introduction of the euro is estimated to affect the production structure of MENA economies and shift their exports from manufacturing to agriculture and services. At the country and industry levels, the impact of the euro is more striking in countries with higher shares of manufacturing and higher shares of exports to the euro zone.

Subject: Agricultural sector, Economic sectors, Exchange rates, Export performance, Exports, Foreign exchange, International trade, Manufacturing

Keywords: Agricultural sector, constant term, East Africa, euro, euro volatility, Europe, exchange rate, Exchange rates, Export performance, exports, industry intercept, Manufacturing, Middle East, minerals industry, North Africa, product industry, production structure, West Africa, WP

Pages:
31
Volume:
1999
DOI:
https://doi.org/10.5089/9781451842883.001
Issue:
012
Series:
Working Paper No. 1999/012
Stock No:
WPIEA0121999
ISBN:
9781451842883
ISSN:
1018-5941

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