Publication:
Cote d’Ivoire : Competitiveness, Cocoa, and the Real Exchange Rate

Simple item page
dc.contributor.authorBogetic, Zeljko
dc.contributor.authorEspina, Carlos
dc.contributor.authorNoer, John
dc.date.accessioned2012-06-11T14:26:07Z
dc.date.available2012-06-11T14:26:07Z
dc.date.issued2007-11
dc.description.abstractThis paper explores competitiveness of Cote d'Ivoire's economy over a long period of 1960-2003 and its link with cocoa prices. The main conclusions are as follows. First, using four measures of real effective exchange rate (REER) for the 1960-2002 period, we track the evolution of REER and conclude, inter alia, that until 2003, REER remained well below its 1994 level. Second, we find that based on our measure of the multilateral REER with dynamic weights, which covers most recorded trade, France no longer dominates Cote d'Ivoire's trade. Instead, Cote d'Ivoire has diversified its set of trading partners. Unfortunately, it has also specialized in one export product, raw cocoa. This paper aims to contribute to the question to what extent do cocoa prices affect Cote d'Ivoire's competitiveness in world trade? Third, the answer to this question is that cocoa prices are an important determinant of Cote d'Ivoire's competitiveness. Similar to the case of a classic "Dutch Disease," increases in the real world price of a "natural resource" (i.e., cocoa) tend to result in the appreciation of the CFA franc and a loss in competitiveness. Econometric tests further confirm that 1994 was a "break-point" not only for growth and productivity (as documented in the two related papers) but also for trade competitiveness. Recent productivity per worker trends versus wages also seem to indicate slow growth in 1996-2000, without major improvement in competitiveness.en
dc.identifierhttp://documents.worldbank.org/curated/en/2007/11/8789763/cote-divoire-competitiveness-cocoa-real-exchange-rate-cote-divoire-competitiveness-cocoa-real-exchange-rate
dc.identifier.doi10.1596/1813-9450-4416
dc.identifier.urihttps://hdl.handle.net/10986/7629
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper; No. 4416
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectAGRICULTURE
dc.subjectANNUAL GROWTH
dc.subjectBALANCE OF PAYMENT
dc.subjectBASE YEAR
dc.subjectBILL
dc.subjectBUSINESS CYCLES
dc.subjectCAPITAL MOBILITY
dc.subjectCOCOA PRICE
dc.subjectCOCOA PRICES
dc.subjectCOMMODITIES
dc.subjectCOMMODITY
dc.subjectCOMMODITY EXPORTS
dc.subjectCOMMODITY PRICE
dc.subjectCOMMODITY PRICES
dc.subjectCOMPETITIVE EQUILIBRIUM
dc.subjectCOMPETITIVENESS
dc.subjectCONSUMER GOODS
dc.subjectCONSUMER PRICE
dc.subjectCONSUMER PRICE INDEX
dc.subjectCONSUMER PRICE INDICES
dc.subjectCURRENCY
dc.subjectCUSTOMER BASE
dc.subjectDEFLATORS
dc.subjectDEPENDENT VARIABLE
dc.subjectDESCRIPTIVE STATISTICS
dc.subjectDEVALUATION
dc.subjectDEVELOPING COUNTRIES
dc.subjectDIRECTION OF TRADE
dc.subjectDISTRIBUTION OF TRADE
dc.subjectDOMESTIC PRICES
dc.subjectDUMMY VARIABLE
dc.subjectDUTCH DISEASE
dc.subjectECONOMETRICS
dc.subjectECONOMIC ACTIVITY
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC STATISTICS
dc.subjectEMERGING ECONOMIES
dc.subjectERROR TERM
dc.subjectEXCESS DEMAND
dc.subjectEXPORT GOOD
dc.subjectEXPORTER
dc.subjectEXPORTS
dc.subjectEXPOSURE
dc.subjectEXTERNAL SHOCK
dc.subjectEXTERNAL SHOCKS
dc.subjectFIXED EXCHANGE RATE
dc.subjectFIXED EXCHANGE RATE REGIME
dc.subjectFOREIGN CURRENCY
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN EXCHANGE EARNINGS
dc.subjectFUNDAMENTAL DETERMINANT
dc.subjectFUTURES
dc.subjectGDP
dc.subjectGDP DEFLATOR
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectGROWTH RATES
dc.subjectIMPORT
dc.subjectIMPORTS
dc.subjectINEFFICIENCY
dc.subjectINFLATION
dc.subjectINSTRUMENTAL VARIABLES
dc.subjectINTEREST RATE DIFFERENTIALS
dc.subjectINTERNATIONAL COMPETITIVENESS
dc.subjectINTERNATIONAL PRICE
dc.subjectINTERNATIONAL PRICES
dc.subjectINTERNATIONAL TRADE
dc.subjectLABOR FORCE
dc.subjectLABOR FORCE GROWTH
dc.subjectLOCAL CURRENCY
dc.subjectLONG-RUN EQUILIBRIUM
dc.subjectMACROECONOMIC VARIABLE
dc.subjectMARKET SHARE
dc.subjectNATURAL RESOURCE
dc.subjectNOMINAL WAGE
dc.subjectOPEN ECONOMIES
dc.subjectOUTPUT
dc.subjectPEG
dc.subjectPOLICY RESEARCH
dc.subjectPOVERTY REDUCTION
dc.subjectPRICE DECLINES
dc.subjectPRICE QUOTATIONS
dc.subjectPRICE RIGIDITIES
dc.subjectPURCHASING
dc.subjectPURCHASING POWER
dc.subjectPURCHASING POWER PARITY
dc.subjectREAL ADJUSTMENTS
dc.subjectREAL APPRECIATION
dc.subjectREAL DEPRECIATION
dc.subjectREAL DISTURBANCES
dc.subjectREAL EFFECTIVE EXCHANGE RATE
dc.subjectREAL EXCHANGE
dc.subjectREAL EXCHANGE RATE
dc.subjectREAL EXCHANGE RATES
dc.subjectREAL INTEREST
dc.subjectREAL INTEREST RATE
dc.subjectREAL OUTPUT
dc.subjectRELATIVE PRICE
dc.subjectSERIAL CORRELATION
dc.subjectSHARE OF WORLD OUTPUT
dc.subjectSLOW GROWTH
dc.subjectSPOT PRICE
dc.subjectSTRUCTURAL CHANGE
dc.subjectSTRUCTURAL REFORMS
dc.subjectSUPPLIERS
dc.subjectTOTAL EXPORTS
dc.subjectTOTAL IMPORTS
dc.subjectTRADABLE GOODS
dc.subjectTRADE COMPETITIVENESS
dc.subjectTRADE PATTERNS
dc.subjectTRADE RESTRICTIONS
dc.subjectTRADE STATISTICS
dc.subjectTRADES
dc.subjectTRADING PARTNER
dc.subjectTRADING PARTNERS
dc.subjectVALUE ADDED
dc.subjectVOLATILITY
dc.subjectWAGES
dc.subjectWEIGHTS
dc.subjectWHOLESALE PRICE
dc.subjectWHOLESALE PRICE INDICES
dc.subjectWORLD MARKET
dc.subjectWORLD MARKETS
dc.subjectWORLD PRICE
dc.subjectWORLD PRICES
dc.subjectWORLD TRADE
dc.titleCote d’Ivoire : Competitiveness, Cocoa, and the Real Exchange Rateen
dspace.entity.typePublication
okr.crossref.titleCote d'Ivoire : Competitiveness, Cocoa, And The Real Exchange Rate
okr.date.doiregistration2025-04-10T09:14:42.852245Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2007/11/8789763/cote-divoire-competitiveness-cocoa-real-exchange-rate-cote-divoire-competitiveness-cocoa-real-exchange-rate
okr.globalpracticeMacroeconomics and Fiscal Management
okr.globalpracticeFinance and Markets
okr.globalpracticeFinance and Markets
okr.globalpracticeTrade and Competitiveness
okr.guid925161468028457156
okr.identifier.doi10.1596/1813-9450-4416
okr.identifier.externaldocumentum000158349_20071128112420
okr.identifier.internaldocumentum8789763
okr.identifier.reportWPS4416
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2007/11/28/000158349_20071128112420/Rendered/PDF/wps4416.pdfen
okr.region.administrativeAfrica
okr.region.countryCote d'Ivoire
okr.topicFinance and Financial Sector Development::Currencies and Exchange Rates
okr.topicEconomic Theory and Research
okr.topicPrivate Sector Development::Emerging Markets
okr.topicMacroeconomics and Economic Growth::Markets and Market Access
okr.topicMacroeconomics and Economic Growth::Macroeconomic Management
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
Files
Original bundle
Now showing 1 - 2 of 2
Thumbnail Image
Name:
wps4416.pdf
Size:
521.02 KB
Format:
Adobe Portable Document Format
Download
No Thumbnail Available
Name:
wps4416.txt
Size:
88.77 KB
Format:
Plain Text
Download
License bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
license.txt
Size:
1.71 KB
Format:
Plain Text
Description:
Download
Collections
Policy Research Working Papers