The Impact of Interest Rate, Exchange Rate and European Business Climate on Economic Growth in Romania: An ARDL Approach with Structural Breaks

Hatmanu, Mariana; Căutișanu, Cristina; Ifrim, Mihaela

doi:10.3390/su12072798

Cited by 37 publications

(39 citation statements)

References 80 publications

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“…Regarding the third control variable which is interest rate, the results show a significant negative effect on the economic growth of Egypt, which is supported by (Di Giovanni and Shambaugh, 2008;Guseh and Oritsejafor, 2007). Hatmanu et al (2020) reached the same conclusion and explained this inverse relationship by stating that the lower the lending rate, the higher the incentives of taking loan with lower cost which will increase investment and thus reflected in higher economic growth. This illustration could be supported by (Akinwale, 2018) as well.…”

Section: Vector Error Correction Model (Vecm)mentioning

confidence: 76%

The Impact of Foreign Direct Investment on the Economic Growth of Egypt (1980-2018)

Alaa¹,

Ashraf²,

Elsherif³

2021

IJEFI

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Many developments had occurred in the global economy. Among these developments is the increase of capital flows across countries. Foreign direct investment (FDI) is considered to be one of the cross border capital flows that countries use in order to enhance their economic growth. This study focuses on how FDI impacts the economic growth of Egypt for a period from 1980 to 2018. The study applies Johansen co-integration, Vector Error Correction Model (VECM) and Ganger causality in the methodology. Johansen co-integration results show that a long run relationship exists among the variables. In addition, VECM shows that FDI exerts a positive significant impact on the economic growth of Egypt. Finally, a bidirectional causality between FDI and the economic growth of Egypt is shown by Granger causality.

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Section: Vector Error Correction Model (Vecm)mentioning

confidence: 76%

The Impact of Foreign Direct Investment on the Economic Growth of Egypt (1980-2018)

Alaa¹,

Ashraf²,

Elsherif³

2021

IJEFI

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“…To measure the impact of the COVID-19 pandemic on stock markets, we applied the autoregressive distributed lag (ARDL) cointegration method, developed through the contributions made by Pesaran and Shin [25] and Pesaran, Shin, and Smith [26]. The use of this method is adequate for studies with a high number of variables as the ARDL cointegration method has the advantage of verifying the existence of long-run relationships between variables that have different orders of integration, while the results of the analysis are robust for an incorrect specification of the order of integration [27,28]. However, the ARDL methodology imposes that no variable should be integrated of second order or I(2) [7].…”

Section: Empirical Methodologymentioning

confidence: 99%

The Impact of COVID-19 Pandemic on Stock Market: Evidence from Romania

Hatmanu

Căutișanu

2021

IJERPH

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The current health crisis has several socioeconomic influences that could be compared to those experienced during the 2008 economic and financial crisis. Governments around the world are making great efforts to sustain markets as there are signs showing that the health crisis will be followed by an economic crisis. In this study, we aim to investigate the impact of COVID-19 on the Romanian stock market. For this purpose, we considered the influence on the Bucharest Exchange Trading (BET) index of such variables as the number of new cases and the number of new deaths caused by COVID-19, measures taken by authorities, and the international economic context. The collected data covered the period between 11 March 2020 and 30 April 2021. The Autoregressive Distributed Lag (ARDL) Bound cointegration test was used to measure the impact of COVID-19 on the stock market. The results showed a significant long-term negative impact of the pandemic on the BET index for Romania, while the European economic context had a positive influence. Therefore, these results could be used by authorities as a good guideline for the efficient management of measures that aim to reduce the negative effects of the healthcare crisis.

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“…Since this includes two currencies, the equilibrium point is determined by the supply and demand sides of the two currencies respectfully. According to Hatmanu et al, (2020), exchange rate affects economic growth, one of which is from the view point of international trade. Exchange rate serves as one of the economic indicators in managing international trade because it reflects the benefits of the physical and commodity sectors and creates competitiveness in the global economy.…”

Section: Exchange Ratementioning

confidence: 99%

The Effect of Population Growth and Trade Openness on Economic Growth of the Oic Countries

Muharromy

Auwalin

2021

JESTT

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ABSTRAKPertumbuhan ekonomi memegang peranan penting dalam menentukan keberhasilan pembangunan sebuah negara, oleh karena itu setiap negara selalu menetapkan target pertumbuhan ekonomi yang stabil dalam tujuan pembangunan. Dalam prosesnya pertumbuhan ekonomi dipengaruhi oleh berbagai factor yang dapat mendorong atau bahkan menghambat laju pertumbuhan. Penelitian ini bertujuan untuk menganalisis pertumbuhan penduduk, keterbukaan perdagangan, inflasi, nilai tukar dan investasi terhadap pertumbuhan ekonomi 40 negara anggota Organisasi Kerjasama Islam (OKI) pada tahun 2005-2019 menggunakan pendekatan kuantitatif dengan teknik analisis regresi data panel fixed effect model dan menggunakan aplikasi Eviews 11dalam mengelola data penelitian. Hasil penelitian ini menunjukkan bahwa variabel pertumbuhan penduduk dan nilai tukar memiliki hubungan signifikan dan negatif terhadap pertumbuhan ekonomi, sedangkan keterbukaan perdagangan dan investasi berpengaruh signifikan dan positif. Sedangkan investasi tidak berpengaruh signifikan pada pertumbuhan ekonomi di Negara OKI. Berdasarkan hasil penelitian ini pemerintah dan pihak terkait diharapkan dapat mengendalikan tingkat pertumbuhan penduduknya serta mendorong sektor perdagangan internasional untuk meningkatkan pertumbuhan ekonomi mengingat tingkat keterbukaan perdagangan di Negara OKI masih dibawah potensinya.Kata Kunci: Pertumbuhan Ekonomi, Pertumbuhan Penduduk, Keterbukaan Perdagangan, Organisasi Kerjasama Islam. ABSTRACTEconomic growth plays an important role in determining the success of a country's development; therefore, each country always sets a target for stable economic growth in its development goals. In the process, economic growth is influenced by various factors that can encourage or even hinder the growth rate. The purpose of this study is to analyze the effect of population growth, trade openness, inflation, exchange rates and investment on the economic growth of 40 member countries of the Organization of Islamic Cooperation (OIC) in 2005-2019 using a quantitative approach with a fixed effect model panel data regression analysis technique and using the Eviews application. 11 in managing research data. The results of this study indicate that the variables of population growth and exchange rates have a significant and negative relationship to economic growth, while trade openness and investment have a significant and positive effect. Meanwhile, investment has no significant effect on economic growth in the OIC Country. Based on the results of this study, the government and related parties are expected to control the rate of population growth and encourage the international trade sector to increase economic growth considering that the level of trade openness in the OIC is still below its potential.Keywords: Economic Growth, Population Growth, Trade Openness, Organization of Islamic Cooperation

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The Impact of Interest Rate, Exchange Rate and European Business Climate on Economic Growth in Romania: An ARDL Approach with Structural Breaks

Cited by 37 publications

References 80 publications

The Impact of Foreign Direct Investment on the Economic Growth of Egypt (1980-2018)

The Impact of Foreign Direct Investment on the Economic Growth of Egypt (1980-2018)

The Impact of COVID-19 Pandemic on Stock Market: Evidence from Romania

The Effect of Population Growth and Trade Openness on Economic Growth of the Oic Countries

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