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Exchange Rate and Competiveness of Senegalese Companies

This paper aims at assessing the potential impact of the exchange rate on the competitiveness of Senegalese companies. It attempts to evaluate the elasticity of manufacturing exports in relation to public and private investment and to the real effective exchange rate in Senegal, over the period 1984-2010. The methodology used is an econometric model based on an equation of reduced form. The results of the long-term model estimation indicate that public and private investment both have a positive and significant impact on manufacturing exports while the real effective exchange rate has a negative impact. Keywords: Exchange rates, Competitiveness, Elasticity of exports, Senegalese companies.