摘要: This paper investigates the impact of nominal and real effective exchange rate volatility on exports six Middle Eastern North Africa (MENA) countries to 15 member European Union (EU), for period 1970Q1-2002Q4. Moving average standard deviation conditional at ARCH model are used generate four different measures each country. The cointegration results indicate a significant relationship, negative (Algeria, Egypt, Tunisia, Turkey), positive last two (Israel Morocco), between MENA volatility. short run dynamics, using an error correction model, shows that Granger, causality effects significant, whereas gross domestic product EU more contrasted. Indications appropriate regime derived from these results.
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