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Exchange rate liberalization and market efficiency in the Gambia
Author(s)
Date Issued
1993-07-19
Date Available
2009-12-15T15:01:12Z
Abstract
This paper examines the experience of The Gambia following the liberalization of its exchange rate and financial markets in the mid-1980's. It is shown that although nominal interest rates are high, and the real interest rate positive, there is no evidence of systematic excess returns to holders of Gambian treasury bills. The outcome suggests that floating the exchange rate can avert the "peso problem" and work efficiently even in an extremely thin foreign exchange market.
External Notes
A hard copy is available in UCD Library at GEN 330.08 IR/UNI
Type of Material
Working Paper
Publisher
University College Dublin. School of Economics
Series
UCD Centre for Economic Research Working Paper Series
WP93/20
Classification
O16
F31
Subject – LCSH
Interest rates--Gambia
Foreign exchange rates--Gambia
Foreign exchange--Gambia
Language
English
Status of Item
Not peer reviewed
This item is made available under a Creative Commons License
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Owning collection
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