Regímenes cambiarios de facto en los países del Magreb central

  1. Jamel Mehouachi 1
  2. Francisco Ledesma 1
  3. Sandra Morini 1
  1. 1 Universidad de La Laguna

    Universidad de La Laguna

    San Cristobal de La Laguna, España


Documentos de Trabajo ( Facultad de Ciencias Económicas y Empresariales, Universidad de La Laguna )

Year of publication: 2009

Issue: 1

Type: Article


The main objective of this paper is to estimate the de facto exchange rate regimes followed by the countries of central Magreb. To that end, firstly, the currency used as anchor for these countries is estimated. Secondly, several methods which have been recently proposed in the literature are carried out. The results suggest that these countries have implemented intermediate exchange rate policies between a flexible and a fixed exchange rate regime which are not coincident with those declared by the monetary authorities. This reinforces the relevance of previously detecting the true regime in order to deal with future researches on the benefits and costs of the adoption of a specific exchange rate system.