000			03012cam a22004694a 4500
001			4416
003			The World Bank
006			m d
007			cr cn|||||||||
008			020129s2007 dcu i001 0 eng
024	8		_a10.1596/1813-9450-4416
035			_a(The World Bank)4416
100	1		_aBogetic, Zeljko
245	1	0	_aCote d'Ivoire _h[electronic resource] : _bCompetitiveness, Cocoa, and the Real Exchange Rate / _cBogetic, Zeljko
260			_aWashington, D.C., _bThe World Bank, _c2007
300			_a1 online resource (30 p.)
520	3		_aThis 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.
650		4	_aCompetitiveness
650		4	_aConsumer Price Indices
650		4	_aCurrencies and Exchange Rates
650		4	_aDeflators
650		4	_aEconomic Theory and Research
650		4	_aEmerging Markets
650		4	_aExports
650		4	_aFinance and Financial Sector Development
650		4	_aGDP
650		4	_aGDP Deflator
650		4	_aGross Domestic Product
650		4	_aMacroeconomic Management
650		4	_aMacroeconomics and Economic Growth
650		4	_aMarkets and Market Access
650		4	_aPrivate Sector Development
650		4	_aTrade Competitiveness
650		4	_aValue Added
650		4	_aWages
700	1		_aBogetic, Zeljko
700	1		_aEspina, Carlos
700	1		_aNoer, John
776	1	8	_aPrint version: _iBogetic, Zeljko. _tCote d'Ivoire. _dWashington, D.C., The World Bank, 2007
830		0	_aPolicy research working papers.
830		0	_aWorld Bank e-Library.
856	4	0	_uhttp://elibrary.worldbank.org/doi/book/10.1596/1813-9450-4416
999			_c22919 _d22919