Please use this identifier to cite or link to this item:
https://hdl.handle.net/20.500.14279/22683
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Michail, Nektarios A. | - |
dc.date.accessioned | 2021-06-10T08:34:34Z | - |
dc.date.available | 2021-06-10T08:34:34Z | - |
dc.date.issued | 2021-05 | - |
dc.identifier.citation | Review of Development Economics, 2021, vol. 25, no. 2, pp. 916 - 930 | en_US |
dc.identifier.issn | 14679361 | - |
dc.identifier.uri | https://hdl.handle.net/20.500.14279/22683 | - |
dc.description.abstract | This paper explores the impact different types of conflict have on the nominal exchange rate (NER), using a panel of developing economies. Accounting for NER determinants, the evidence suggests that in addition to the depreciation caused by macroeconomic factors, intra-state (civil) wars have a strong and significant depreciative impact on the exchange rate. In contrast, international wars do not appear to have any excess effect. A potential explanation of this phenomenon is that, unlike international wars where winners and losers are more difficult to distinguish a priori, in civil wars the country is much more likely to face economic deterioration, therefore promoting an over-discounting effect. The findings provide insights for both investors and policymakers given that exchange rate devaluation can likely provide a negative feedback mechanism to the local economy, especially if they hold foreign currency debt. The depreciation could also potentially have strong effects on the long-run growth potential, considering that most developing economies rely on imports of capital goods for research and development purposes. | en_US |
dc.format | en_US | |
dc.language.iso | en | en_US |
dc.relation.ispartof | Review of Development Economics | en_US |
dc.rights | © John Wiley | en_US |
dc.rights | Attribution-NonCommercial-NoDerivatives 4.0 International | * |
dc.rights.uri | http://creativecommons.org/licenses/by-nc-nd/4.0/ | * |
dc.subject | Civil war | en_US |
dc.subject | Conflict | en_US |
dc.subject | Developing economies | en_US |
dc.subject | Nominal exchange rate | en_US |
dc.subject | Shadow exchange rate | en_US |
dc.title | The impact of conflict on the exchange rate of developing economies | en_US |
dc.type | Article | en_US |
dc.collaboration | Central Bank of Cyprus | en_US |
dc.collaboration | Cyprus Business School | en_US |
dc.collaboration | Cyprus University of Technology | en_US |
dc.subject.category | Economics and Business | en_US |
dc.journals | Subscription | en_US |
dc.country | Cyprus | en_US |
dc.subject.field | Social Sciences | en_US |
dc.publication | Peer Reviewed | en_US |
dc.identifier.doi | 10.1111/rode.12749 | en_US |
dc.relation.issue | 2 | en_US |
dc.relation.volume | 25 | en_US |
cut.common.academicyear | 2020-2021 | en_US |
dc.identifier.spage | 916 | en_US |
dc.identifier.epage | 930 | en_US |
item.fulltext | No Fulltext | - |
item.cerifentitytype | Publications | - |
item.grantfulltext | none | - |
item.openairecristype | http://purl.org/coar/resource_type/c_6501 | - |
item.openairetype | article | - |
item.languageiso639-1 | en | - |
crisitem.journal.journalissn | 1467-9361 | - |
crisitem.journal.publisher | Wiley | - |
crisitem.author.dept | Department of Finance, Accounting and Management Science | - |
crisitem.author.faculty | Faculty of Management and Economics | - |
crisitem.author.orcid | 0000-0001-9003-3225 | - |
crisitem.author.parentorg | Faculty of Management and Economics | - |
Appears in Collections: | Άρθρα/Articles |
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