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Pegged Stability or Floating Prosperity? How Monetary Policy Impacts the Primary Exports of Ghana and Côte d’Ivoire

Grimstedt, Felix LU (2025) EKHS21 20251
Department of Economic History
Abstract
This thesis analyses how exchange rate regimes impact the competitiveness of Côte d'Ivoirian and Ghanaian commodity exports between 1999 and 2023. While Ghana’s floating cedi offers flexibility in the form of currency-driven price adjustments, Côte d’Ivoire’s fixed CFA franc, pegged to the euro, offers stability at the cost of flexibility. By analysing trade flows of their primary commodity exports; cocoa beans, crude oil, rubber and gold, the relationship between these two exchange rate regimes and whether fluctuations impact Ghana’s market share relative to Côte d’Ivoire’s is assessed. While some evidence suggests that a depreciated cedi impacts Ghanaian exports positively in relation to Côte d’Ivoirian, the effects are overall weak and... (More)
This thesis analyses how exchange rate regimes impact the competitiveness of Côte d'Ivoirian and Ghanaian commodity exports between 1999 and 2023. While Ghana’s floating cedi offers flexibility in the form of currency-driven price adjustments, Côte d’Ivoire’s fixed CFA franc, pegged to the euro, offers stability at the cost of flexibility. By analysing trade flows of their primary commodity exports; cocoa beans, crude oil, rubber and gold, the relationship between these two exchange rate regimes and whether fluctuations impact Ghana’s market share relative to Côte d’Ivoire’s is assessed. While some evidence suggests that a depreciated cedi impacts Ghanaian exports positively in relation to Côte d’Ivoirian, the effects are overall weak and inconsistent. More research is required in order to draw any solid conclusions and the findings mainly contribute to the current literature by shedding light on a current and highly relevant topic. (Less)
Please use this url to cite or link to this publication:
author
Grimstedt, Felix LU
supervisor
organization
course
EKHS21 20251
year
type
H1 - Master's Degree (One Year)
subject
keywords
Exchange rate regimes, CFA franc, Francafrique, Ghana, Côte d’Ivoire, Trade.
language
English
id
9205857
date added to LUP
2026-09-07 13:47:53
date last changed
2026-09-07 13:47:53
@misc{9205857,
  abstract     = {{This thesis analyses how exchange rate regimes impact the competitiveness of Côte d'Ivoirian and Ghanaian commodity exports between 1999 and 2023. While Ghana’s floating cedi offers flexibility in the form of currency-driven price adjustments, Côte d’Ivoire’s fixed CFA franc, pegged to the euro, offers stability at the cost of flexibility. By analysing trade flows of their primary commodity exports; cocoa beans, crude oil, rubber and gold, the relationship between these two exchange rate regimes and whether fluctuations impact Ghana’s market share relative to Côte d’Ivoire’s is assessed. While some evidence suggests that a depreciated cedi impacts Ghanaian exports positively in relation to Côte d’Ivoirian, the effects are overall weak and inconsistent. More research is required in order to draw any solid conclusions and the findings mainly contribute to the current literature by shedding light on a current and highly relevant topic.}},
  author       = {{Grimstedt, Felix}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{Pegged Stability or Floating Prosperity? How Monetary Policy Impacts the Primary Exports of Ghana and Côte d’Ivoire}},
  year         = {{2025}},
}