Investigate the Real Effective Exchange Rate Misalignment in OPEC Member Countries

The effective real exchange rate is one of the variables that can Misalignment from equilibrium values, Performance affects macroeconomic indicators and creates an unstable uncertain environment in economy. Therefore, order to investigate factors affecting OPEC member countries during period 1980-1980, first, framework least dynamic ordinary squares method (DOLS), for determining have been investigated results confirm estimation positive effects oil shocks on intensification Misalignment. Then, effect institutional quality financial development index using generalized panel (GMM). at this stage indicate has a impact indicators, including; stability state (rule law), ability account democratically (democracy), social economic conditions (political rights civil liberties) had significant negative programs policies under study should focus improving market regulation, government accountability its performance, ensuring political stability.