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    Exchange rate volatility and export growth in Zambia, the case of tobacco 1992-2014

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    Date
    2016
    Author
    Mufana, Ian Silumba
    Type
    Thesis
    Language
    en
    Metadata
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    Abstract
    This study empirically investigates the effects of real exchange rate volatility on tobacco export growth in Zambia. The study employs annual time series data for the period 1992 to 2014 and uses the Exponential Generalised Autoregressive Conditional Heteroskedasticity (EGARCH) to measure exchange rate volatility; the Augmented Dicky Fuller (ADF) to test for order of integration among the variables and The ARDL Bounds F-testing procedure as proposed by Pesaran et al., (2001) to model the findings. The analysis assumes an export demand framework that includes; relative prices, which are a measure of competitiveness and foreign incomes to capture foreign demand factors. The empirical finding of the study reveals that real exchange rate volatility exerts positive but insignificant impact on tobacco export growth in both the short-run and the long-run. On the other hand, relative prices and foreign income have significant positive effects on tobacco exports growth in the short-run as well as the long run. Implying that a real depression in the kwacha and an increase in income of the trading partner are more stimulus to the growth of the tobacco export industry. Keywords: Real exchange rate, volatility, ARDL-Bounds testing procedure, Tobacco Exports.
    URI
    http://dspace.unza.zm/handle/123456789/4758
    Publisher
    University of Zambia
    Subject
    Foreign exchange rates--Developing countries--Zambia
    Exports--Developing countries--Zambia
    Foreign exchange--Zambia
    Tobacco industry--Zambia
    Description
    Master of Arts in Economics
    Collections
    • Humanities and Social Sciences [886]

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