Choix des politiques de change dans les pays en developpements: Etude de la competitivite de la Tunisie

Abstract

After the collapse of the Breton Woods system, the increased fluctuations of the exchange rates pushed the developing countries to adopt exchange rate policies to avoid rocking of the balance of payments. Since 1973, Tunisia adopted fixed or intermediary exchange rate policies to support or ameliorate her competitiveness and later to balance her current account. By calculating the real effective exchange rate misalignment, we showed that this country did not achieve her goals and that amelioration of competitiveness occurred only as from the moment when she softened her exchange policies. A policy of floating exchange rate is recommended for Tunisia specially why this country is more and more open.

Key words: Exchange policy, Real effective exchange rate misalignment, Competitiveness, Tunisia.
JEL: F31.