<p>This project &quot / An application of multiple regression in exchange rate arrangement&quot / focused on the processes followed by different countries when choosing an exchange rate regime for currency stabilization. It analyses the consequences faced by emerging markets as a result of changes in volatility of developed countries&rsquo / currencies (American Dollar, Japanese Yen, EURO, British Pound and the Canadian Dollar).</p>

<p>This project &quot / An application of multiple regression in exchange rate arrangement&quot / focused on the processes followed by different countries when choosing an exchange rate regime for currency stabilization. It analyses the consequences faced by emerging markets as a result of changes in volatility of developed countries&rsquo / currencies (American Dollar, Japanese Yen, EURO, British Pound and the Canadian Dollar).</p>

Magister Scientiae - MSc / This project "An application of multiple regression in exchange rate arrangement" focused on the processes followed by different countries when choosing an exchange rate regime for currency stabilization. It analyses the consequences faced by emerging markets as a result of changes in volatility of developed countries&rsquo; currencies (American Dollar, Japanese Yen, EURO, British Pound and the Canadian Dollar). / South Africa

Magister Economicae - MEcon / This study analyses the impact of Namibia’s currency peg on its domestic inflation. This is because theoretical argument suggests that currency peg (fixed exchange rate) provides nominal anchor for domestic price level, in particular when the domestic currency is pegged to a stable foreign currency. Following the method of hypothesis testing, data on Namibia and South Africa are used in this regard. Three main findings emerged from this study. Firstly, it was shown that the two inflation rates are positively correlated.Secondly, the study shows that there is no statistical significance difference between the inflation rates of the two countries. This gives an indication that the currency peg served as a nominal anchor, because as the SA inflation rate came down, so did the Namibian inflation rate. Thirdly, the study also shows that the growth of money stock in Namibia does not deviate from the growth of money stock in SA. This gives an indication that the authorities have maintained the peg through control of monetary growth.

La présente thèse porte sur « Les Perspectives de Ciblage de l'Inflation dans les Pays de l'UEMOA » dontl'opportunité pourrait être bien saisie à la suite de la nouvelle réforme institutionnelle de l'UMOA et de laBCEAO. Cette réforme doit s'accompagner d'une stratégie opérationnelle explicite dans la mesure où sesinnovations majeures sont très proches d'une politique de ciblage de l'inflation. Pour cela, nous évaluons lapolitique monétaire de la BCEAO axée en partie sur un régime de change fixe depuis les indépendances.Ainsi, après avoir montré la nécessité pour les Banque Centrale d’ancrer les anticipations inflationnistesdans les pays de l'UEMOA et l'apport potentiel de l'annonce d'un objectif d'inflation dans la maîtrise du tauxd'inflation (Chapitre 1), nous montrons que la politique de change fixe n'a pas été à l'origine des tauxd'inflation relativement contenus dans la l'Union, mais pire, elle procure de mauvaises résultats en termesd'une croissance économique élevée et soutenue (Chapitre 2). En cela, nous recommandons pour l’Unionun cadre de type d’une combinaison d’un régime de change intermédiaire et d’une stratégie de ciblage del’inflation. C’est ainsi qu’une cible d’inflation a été déterminée et, elle apparaît différente aussi bien d’un paysà l’autre que de l’objectif de 2% annoncé par le Comité de Politique Monétaire de la BCEAO (Chapitre 3).Nous terminons en déterminant la règle de ciblage d'inflation, et montrons que la meilleure règle optimaleque les autorités monétaires devraient adopter dans un cadre de ciblage de l'inflation concilie l’ancragenominal et la régulation conjoncturelle (Chapitre 4). / This thesis focuses on evaluating the "Prospects of Inflation Targeting in the WAEMU countries" in the wakeof the new institutional reform followed by the WAMU and the BCEAO. This reform must be accompanied byan explicit operational strategy insofar as its major innovations are very close to a policy of inflation targeting.Accordingly, we assess the impact of monetary policy of the BCEAO that focused on fixed exchange ratesince independence. In this respect, we manifest the inability of the fixed exchange rate policy to anchorinflation expectations in the WAEMU countries and the potential contribution regarding the announcement oftarget in controlling inflation (Chapter 1). In addition, we demonstrate, on the one hand, that the fixedexchange rate policy was not the cause of inflation contained in the WAEMU, and on the other, it providespoor results in terms of high and sustained economic growth (Chapter 2). Consequently, we recommend aframework of combination of an intermediate exchange rate regime and an inflation targeting strategy forWAEMU countries. Hence, an inflation target has been determined and it appears to be different from onecountry to another, against the 2% target announced by the Monetary Policy Committee of the BCEAO(Chapter 3). Finally, we define the inflation targeting rule, and show that the best optimal rule that monetaryauthorities adopt in an inflation targeting framework should ideally, reconciles nominal anchor and economicregulation (Chapter 4).