The Euro and the CFA Franc: Evidence of Sectoral Trade Effects
![Thumbnail](/xmlui/bitstream/handle/10234/183731/63379.pdf.jpg?sequence=4&isAllowed=y)
Ver/ Abrir
Metadatos
Mostrar el registro completo del ítemcomunitat-uji-handle:10234/9
comunitat-uji-handle2:10234/8643
comunitat-uji-handle3:10234/8644
comunitat-uji-handle4:
INVESTIGACIONMetadatos
Título
The Euro and the CFA Franc: Evidence of Sectoral Trade EffectsAutoría
Fecha de publicación
2019Editor
SpringerISSN
0923-7992; 1573-708XCita bibliográfica
Martínez-Zarzoso, I. Open Econ Rev (2019) 30: 483. https://doi.org/10.1007/s11079-018-09520-8Tipo de documento
info:eu-repo/semantics/articleVersión de la editorial
https://link.springer.com/article/10.1007/s11079-018-09520-8Versión
info:eu-repo/semantics/acceptedVersionPalabras clave / Materias
Resumen
This paper estimates a gravity model of trade to evaluate the trade effects of the Euro on sectoral trade within the Eurozone (EZ),
the CFA Franc Zone (CFA) and between the EZ and the CFA, when CFA countries acquired ... [+]
This paper estimates a gravity model of trade to evaluate the trade effects of the Euro on sectoral trade within the Eurozone (EZ),
the CFA Franc Zone (CFA) and between the EZ and the CFA, when CFA countries acquired fixed rates against the nonfrancophone EZ members. The formation of the EZ provides a quasi-natural experiment to estimate the effects on trade of fixed
exchange rates, since the change in exchange rate regime for CFA countries with all EZ countries but France was not trade
related. This is tested using sectoral trade data for 175 countries over the period 1995-2016 and validated using a longer time
period starting in the seventies. The main departure from Frankel (2008), is the estimation of a structural gravity model using
sectoral trade and bilateral-sectoral fixed effects as well as controls for multilateral resistance, namely time varying countrysector fixed-effects for exporters and importers, in a PPML framework. The main results indicate that the introduction of the
Euro does show positive and significant effects for export flows from the CFA to other EZ countries different from France,
whereas exports in the opposite direction are negatively affected. Moreover, the results differ by sector and we find that
agricultural and homogeneous goods exports from CFA countries to Euro adopters increased by around forty and hundred
twenty percent, respectively after the euro adoption. [-]
Publicado en
Open Econ Rev (2019) 30.Proyecto de investigación
ECO2017-83255-C3-3-P ; UJI-B2017-33Derechos de acceso
© Springer Science+Business Media, LLC, part of Springer Nature 2019.
"This is a post-peer-review, pre-copyedit version of an article published in Open Economies Review. The final authenticated
version is available online at: http://dx.doi.org/ DOI: 10.1007/s11079-018-09520-8."
http://rightsstatements.org/vocab/InC/1.0/
info:eu-repo/semantics/openAccess
http://rightsstatements.org/vocab/InC/1.0/
info:eu-repo/semantics/openAccess
Aparece en las colecciones
- ECO_Articles [696]