[ Investissement direct étranger et taux de change en République Démocratique du Congo: quels effets ? ]
Volume 29, Issue 3, June 2020, Pages 600–612
Bonheur MURHULA LUSHEKE1
1 Département des Sciences Commerciales et Administratives, Section des Sciences Commerciales, Administratives et Informatique de gestion, Institut Supérieur Pédagogique d’Idjwi (ISP/IDJWI), Idjwi, Sud-Kivu, RD Congo
Original language: French
Copyright © 2020 ISSR Journals. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
This paper analyses the impact of the Foreign Direct Investment on the rate of exchange before or not other variables which can influence the rate of exchange in DRC. In order to confirm our hypothesis assigned to this one and reach its objective, we have referred to the following methods and techniques: the analytical method, the method Lesser Ordinary Square through the model of Error Correction and the documentary technique. Thus, on the basis of different reports of the African Bank of Development, the Central Bank of Congo, and finally the World Table of the World Bank and the international financial statistics of IMF from 1984 to 2015, we have come to the results according to which the official rate of exchange in DRC has a negative impact on the foreign direct investment. Our results prove that money depreciation increases the FDI in the welcoming country and consequently the rate of exchange decreases. So, the drop in the rate of exchange leads to a raise of exportations. In the same conditions, a raise of rate of exchange leads to a reduction of exportations.
Author Keywords: foreign direct investment, rate of exchange.
Volume 29, Issue 3, June 2020, Pages 600–612
Bonheur MURHULA LUSHEKE1
1 Département des Sciences Commerciales et Administratives, Section des Sciences Commerciales, Administratives et Informatique de gestion, Institut Supérieur Pédagogique d’Idjwi (ISP/IDJWI), Idjwi, Sud-Kivu, RD Congo
Original language: French
Copyright © 2020 ISSR Journals. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Abstract
This paper analyses the impact of the Foreign Direct Investment on the rate of exchange before or not other variables which can influence the rate of exchange in DRC. In order to confirm our hypothesis assigned to this one and reach its objective, we have referred to the following methods and techniques: the analytical method, the method Lesser Ordinary Square through the model of Error Correction and the documentary technique. Thus, on the basis of different reports of the African Bank of Development, the Central Bank of Congo, and finally the World Table of the World Bank and the international financial statistics of IMF from 1984 to 2015, we have come to the results according to which the official rate of exchange in DRC has a negative impact on the foreign direct investment. Our results prove that money depreciation increases the FDI in the welcoming country and consequently the rate of exchange decreases. So, the drop in the rate of exchange leads to a raise of exportations. In the same conditions, a raise of rate of exchange leads to a reduction of exportations.
Author Keywords: foreign direct investment, rate of exchange.
Abstract: (french)
Ce papier analyse l’impact de l’ide (Investissement Direct Etranger) sur le taux de change en présence ou non des autres variables pouvant influencer le taux de change en RDC. Pour vérifier l’hypothèse assignée à celui-ci et atteindre son objectif, nous avons fait recours aux méthodes et techniques suivantes: la méthode analytique, la méthode de MCO (Moindre Carré Ordinaire) via le modèle à Correction d’Erreur et la technique documentaire. Ainsi, sur base des différents rapports de la Banque Africaine de Développement, de la Banque Centrale du Congo, et enfin de World Table de la Banque Mondiale et des statistiques financières internationales du FMI de 1984 à 2015, nous sommes arrivés aux résultats selon lesquels le taux de change officiel en RDC a un impact négatif sur l’investissement direct étranger. Nos résultats prouvent qu’une dépréciation de la monnaie réduit les IDE dans le pays d’accueil et par conséquent le taux de change augmente. Toute chose restante égale par ailleurs, une appréciation de la monnaie augmente les IDE dans le pays d'accueil et par conséquent le taux de change diminue. Ainsi, une baisse du taux de change entraîne une augmentation des exportations. Toutes choses étant égales par ailleurs, une hausse du taux de change entraine une diminution des exportations.
Author Keywords: investissement direct étranger, taux de change.
How to Cite this Article
Bonheur MURHULA LUSHEKE, “Foreign direct investment and rate of exchange in the Democratic Republic of the Congo: what effects?,” International Journal of Innovation and Applied Studies, vol. 29, no. 3, pp. 600–612, June 2020.
