The influence of gold price on exchange rates in South Africa

The influence of gold price on exchange rates in South Africa

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Article ID: iaor19952135
Country: South Africa
Volume: 19
Start Page Number: 51
End Page Number: 67
Publication Date: Aug 1995
Journal: International Studies In Economics and Econometrics
Authors:
Keywords: gold
Abstract:

The relationship between mineral and exchange rate markets is still a relatively little developed area of research. Some studies regard mineral export prices as a relevant macroeconomic fundamental which, among other factors, can explain the performance of nominal and real exchange rates in a mineral-dependent economy. This paper investigates the role of the gold price for the South African real and nominal exchange rate in the 1980s and early 1990s, incuding a possible structural change in the late 1980s and considering the scope for other explanatory variables. Results are obtained from alternative procedures for co-integration analysis.

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