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Influence of real exchange rate on the finance-growth nexus in the West African region
Ehigiamusoe, Kizito Uyi; Hooi Hooi Lean - In: Economies : open access journal 7 (2019) 1/23, pp. 1-21
This study examines the moderating effects of the real exchange rate and its volatility on the finance-growth nexus in … the West African region. It also determines the marginal effects of financial development on economic growth at various … impact on economic growth, but this impact is weakened by real exchange rate and its volatility. The marginal effects of …
Persistent link: https://www.econbiz.de/10012020497
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The impact of monetary and commodity fundamentals, macro news and central bank communication on the exchange rate: evidence from South Africa
Égert, Balázs - 2009
This paper studies drivers of high-frequency (daily) dynamics of the South African rand vis-à-vis the dollar from January 2001 to July 2007. We find strong nonlinear effects of commodity prices, perceived country and emerging market risk premium and changes in the dollar-euro exchange rate on...
Persistent link: https://www.econbiz.de/10010273784
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Nonlinear relationship between exchange rate volatility and economic growth
Phiri, Andrew - 2018
economic growth in South Africa. By using data collected from 1970 to 2016 applied to a smooth transition regression (STR …) model, we are able to prove that the exchange rate-economic growth correlation is indeed nonlinear within the sampled time … volatility positively and significantly influences economic growth when growth in government spending is below 6 percent. Above …
Persistent link: https://www.econbiz.de/10011870188
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A structural break in the effects of Japanese foreign exchange intervention on yen/dollar exchange rate volatility
Hillebrand, Eric; Schnabl, Gunther - 2006
While up to the late 1990s Japanese foreign exchange intervention was fully sterilized, Japanese monetary authorities left foreign exchange intervention unsterilized when Japan entered the liquidity trap in 1999. According to previous research on foreign exchange intervention, unsterilized...
Persistent link: https://www.econbiz.de/10011604696
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The euro introduction and non-euro currencies
Dijk, Dick van; Munandar, Haris; Hafner, Christian M. - 2006
This paper documents the existence of large structural breaks in the unconditional correlations among the British pound, Norwegian krone, Swedish krona, Swiss franc, and euro exchange rates (against the US dollar) during the period 1994-2003. Using the framework of dynamic conditional...
Persistent link: https://www.econbiz.de/10011343243
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Quantitative comparisons on the intrinsic features of foreign exchange rates between the 1920s and the 2010s : case of the USD-GBP exchange rate
Han, Young Wook - In: East Asian economic review 20 (2016) 3, pp. 365-390
This paper quantitatively compares the intrinsic features of the daily USD-GBP exchange rates in two different periods, the 1920s and the 2010s, under the same freely floating exchange rate system. Even though the foreign exchange markets in the 1920s seem to be much less organized and developed...
Persistent link: https://www.econbiz.de/10011765010
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International investment positions and exchange rate dynamics: a dynamic panel analysis
Binder, Michael; Offermanns, Christian J. - 2007
In this paper we revisit medium- to long-run exchange rate determination, focusing on the role of international investment positions. To do so, we develop a new econometric framework accounting for conditional long-run homogeneity in heterogeneous dynamic panel data models. In particular, in our...
Persistent link: https://www.econbiz.de/10010264207
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Volatility of exchange rates in selected new EU members: evidence from daily data
Fidrmuc, Jarko; Horváth, Roman - 2007
We examine the daily exchange rate dynamics in selected new EU member states (Czech Republic, Hungary, Poland, Romania, and Slovakia) using GARCH and TARCH models between 1999 and 2006. Despite these countries adopted inflation targeting regime, they occasionally tried to manage their exchange...
Persistent link: https://www.econbiz.de/10010264218
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International investment positions and exchange rate dynamics: a dynamic panel analysis
Binder, Michael; Offermanns, Christian J. - 2007
In this paper we revisit medium- to long-run exchange rate determination, focusing on the role of international investment positions. To do so, we develop a new econometric framework accounting for conditional long-run homogeneity in heterogeneous dynamic panel data models. In particular, in our...
Persistent link: https://www.econbiz.de/10010295860
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International investment positions and exchange rate dynamics: A dynamic panel analysis
Binder, Michael; Offermanns, Christian J. - 2007
In this paper we revisit medium- to long-run exchange rate determination, focusing on the role of international investment positions. To do so, we develop a new econometric framework accounting for conditional long-run homogeneity in heterogeneous dynamic panel data models. In particular, in our...
Persistent link: https://www.econbiz.de/10010298372