Drivers of the real effective exchange rates in high and upper‐middle income countries

Vogiazas, Sofoklis; Alexiou, Constantinos; Ogan, Orafiri C.

doi:10.1111/1467-8454.12139

Cited by 12 publications

(10 citation statements)

References 45 publications

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“…Using the case of high income and upper middle income economies Vogiazas et al (2019) confirmed that financial development and natural resources rents have no significant effect on the real effective exchange rates of the upper-middle income countries but this link is substantial for the high-income countries. Likewise, trade openness is the key factor that influences the exchange rates and the impact of total factor productivity varies for both countries.…”

Section: Literature Reviewmentioning

confidence: 96%

Macroeconomic fundamentals and exchange rates in South Asian economies

Draz

Ahmad

Gupta

et al. 2019

JCEFTS

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Purpose This study aims to examine the impact of macroeconomic fundamentals on exchange rates of selected South Asian economies during 1981-2013. Design/methodology/approach The authors have used two econometric approaches to the data. For the pooled sample, estimated generalized least square (EGLS) and the two-stage least square method are applied. For the panel data, the authors have used the panel generalized method of moments and ordinary least squares (OLS) methods. Findings The results suggest that macroeconomic factors have a significant impact on exchange rates. The robust findings highlight that improvements in domestic economic and political systems are crucial for a successful exchange rate policy. Originality/value The existing literature on exchange rate fundamentals have either focused on exchange rates and international trade or investigated the relationship for the developed economies. Covering a period of more than three decades, and using both pooled and panel estimations, our study is unique in terms of its focus on the South Asian economies.

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Section: Literature Reviewmentioning

confidence: 96%

Macroeconomic fundamentals and exchange rates in South Asian economies

Draz

Ahmad

Gupta

et al. 2019

JCEFTS

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“…Berdasarkan penelitian Vogiazas et al (2019), keterbukaan perdagangan adalah persentase jumlah ekspor dan impor dalam PDB. Keterbukaan perdagangan mengindikasikan interaksi ekonomi suatu negara secara global dengan negara-negara lain.…”

Section: Hubungan Antara Keterbukaan Perdagangan Dan Nilai Tukarunclassified

Pengaruh Faktor Ekonomi Makro, Kestabilan Politik dan Harga Minyak Dunia pada Nilai Tukar Rupiah terhadap Dolar Amerika Serikat

Karimah,

Laulita

2023

JMP

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<em>The exchange rate value of the rupiah against the US dollar fluctuates and tends to depreciate throughout the year. So it is very important to analyze the factors that influence the exchange rates to maintain its stability. The relationship between several macroeconomic factors such as inflation, interest rates, GDP, and trade openness as well as political stability factors and world oil prices on exchange rates are the main topics of discussion in this study. Monthly data in time series 2010-2020, processed using the Eviews 12 and tested using the multiple linear regression method. There is a significant positive effect between interest rates, GDP, and world oil prices for the type of WTI on the exchange rates. Meanwhile, trade openness, political stability, and world oil prices for the Brent type have a significant negative effect on the exchange rates. As for the inflation variable, it does not have a significant effect on the exchange rates. The government as a policy maker is expected to be able to regulate macroeconomic factors, maintain political stability, and control the supply of crude oil properly to maintain the exchange rate stability.</em>

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“…The current debate on the financegrowth nexus has spawned a whole new empirical research that purports to shed additional light on the extant relationship between financial sector development and economic growth (see Aghion and Howitt 2009). For Vogiazas et al (2018) however, the existing evidence on the empirical relationship between financial sector development and economic growth remains, to a certain extent, inconclusive. Bagehot (1873) and Schumpeter (1911) were potentially two of the first academics to provide insightful arguments on the implications of the relationship between finance and growth.…”

Section: Banking Sector Development Determinantsmentioning

confidence: 99%

Benchmarking Modelling in the Context of Banking Sector Deepening and Long-Term Economic Growth

Al-Moulani

Alexiou

2019

SSRN Journal

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This paper identifies a host of key factors that influence the development of the banking sector as well as enhances our understanding of benchmarking modelling as a means of stimulating economic growth. A novel benchmarking method is utilized that assesses the level of banking sector depth in a country against its counterparts in the top quartile countries using mixed effects and system GMM for dynamic panel data models. The results suggest that the development of the banking sector is contingent upon factors that can be traced within the structure of the sector, the macroeconomic environment as well as the governing, institutional, and legal frameworks. The paper presents four benchmarking models that potentially provide policymakers with tools to benchmark the levels of banking sector development against their peers in countries in which the particular sector contributes significantly to economic growth.

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Drivers of the real effective exchange rates in high and upper‐middle income countries

Cited by 12 publications

References 45 publications

Macroeconomic fundamentals and exchange rates in South Asian economies

Macroeconomic fundamentals and exchange rates in South Asian economies

Pengaruh Faktor Ekonomi Makro, Kestabilan Politik dan Harga Minyak Dunia pada Nilai Tukar Rupiah terhadap Dolar Amerika Serikat

Benchmarking Modelling in the Context of Banking Sector Deepening and Long-Term Economic Growth

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