Temat: Exchange Rate - Katalog OPAC zbiorów

Skocz do pozycji: 1.

Tytuł:: Skala zmienności kursu złotego względem euro i dolara w latach 2012-2016 na tle wybranych walut narodowych krajów Unii Europejskiej
The scale of volatility of the złoty’s exchange rate against the euro and the dollar in the years of 2012-2016 compared to selected national currencies of the European Union member states
Autorzy:: Michalczyk, Wawrzyniec
Powiązania:: https://bibliotekanauki.pl/articles/590792.pdf
Data publikacji:: 2018
Wydawca:: Uniwersytet Ekonomiczny w Katowicach
Tematy:: Kurs walutowy
Rynek walutowy
Złoty
Zmienność kursu
Exchange rate volatility
Exchange rate
Foreign exchange market
Zloty
Opis:: Celem artykułu jest ocena skali zmienności kursu złotego w stosunku do euro i dolara, dokonana w porównaniu do kursów innych, wybranych walut krajów Unii Europejskiej: korony czeskiej, korony szwedzkiej, forinta węgierskiego i funta brytyjskiego. Do analizy zastosowano trzy wskaźniki: procentowe odchylenie kursu dziennego od średniej z badanego okresu i od średniej z poprzedzających dwóch lat oraz miernik ERV, a także przeprowadzono analizę korelacji. Zaobserwowano, że skala zmienności kursu złotego w stosunku do euro i dolara w porównaniu do innych walut nie jest zbyt znaczna oraz że stopień powiązania wartości walut z euro jest zasadniczo większy niż z dolarem, co przekłada się na wyższą stabilność ich kursów względem wspólnego pieniądza.
The aim of the paper is to evaluate the scale of volatility of the złoty’s exchange rate against the euro and the dollar, in comparison to the rates of other selected currencies of the European Union member states: Czech koruna, Swedish krona, Hungarian forint and British pound. Three indicators were used for the analysis: percentage deviation of the daily exchange rate from the mean in the studied period and from the mean in the preceding two years and the measure of the ERV, and also the correlation analysis was conducted. It was observed that the scale of volatility of the zloty’s rate against the euro and the dollar compared to other currencies is not very excessive and that the degree of linkage of the currencies’ values with the euro is substantially higher than with the dollar, which translates into greater stability of their exchange rates against the common currency.
Źródło:: Studia Ekonomiczne; 2018, 352; 139-151
2083-8611
Pojawia się w:: Studia Ekonomiczne
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 2.

Tytuł:: Exchange rate regime and external adjustment in CEE countries
Autorzy:: Pietrucha, Jacek
Powiązania:: https://bibliotekanauki.pl/articles/522491.pdf
Data publikacji:: 2015
Wydawca:: Uniwersytet Ekonomiczny w Katowicach
Tematy:: Balance of payment
Current account
Exchange rate
Transition
Opis:: The paper reviews effects of exchange rate regime’s choice for adjustments processes in current accounts (CA) in the Central and Eastern Europe countries between 2008-2012. During the period of global financial crisis, Poland may be treated as a handbook example of the reaction of floating exchange rate to shock and adjustments in the form of expenditure switching. However, the Polish experience is not typical among the Central and Eastern Europe countries. There is no evidence for the positive role of floating exchange rate in macroeconomic adjustments after the crisis in Central and Eastern Europe countries which belong to EU. The adjustments in the countries with fixed regimes were fast and deep. The real exchange rate decreased and export, CA and goods and services balance improved, development distance against EU countries was reduced. However, the experience of Baltic countries, which have internal devaluation, should be very carefully conveyed to other countries.
Źródło:: Journal of Economics and Management; 2015, 20; 38-52
1732-1948
Pojawia się w:: Journal of Economics and Management
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 3.

Tytuł:: Effects of central bank financial strength on policy outcomes – a study of selected African countries
Autorzy:: Popoola, Abiodun
Powiązania:: https://bibliotekanauki.pl/articles/522330.pdf
Data publikacji:: 2018
Wydawca:: Uniwersytet Ekonomiczny w Katowicach
Tematy:: Central bank financial strength
Exchange rate
Inflation
Interest rate
Policy
Opis:: Aim/purpose – The purpose of this paper is to investigate the relationship between financial strength and policy outcomes of central banks in Africa. This is against the background of challenging policy tasks facing African central banks and the fact that they increasingly have to respond to occurrences that stem from the volatile global financial system. Design/methodology/approach – Three panel regression models were developed and estimated to capture the effects of the financial strength of the central banks of ten selected countries on their inflation outcomes, official exchange rate, and interest rate. Annual data derived from the balance sheets of ten African central banks as well as macroeconomic variables from World Development Indicators for the period 2000-2014 were used for the empirical analysis. Findings – This study found out that: central bank financial strength is not a significant determinant of inflation outcomes in African countries; central bank financial strength has a significant impact on the determination of official exchange rate in Africa; and central bank financial strength is not a significant factor in the determination of interest rates by central banks in Africa. Research implications/limitations – A major implication is that central bank financial strength is necessary for result-oriented exchange rate policy in African countries. However, studies employing other estimation methods may make for more robust results. Also, the inclusion of central banks that report the results of their operations in other languages apart from English may make for better generalization. Originality/value/contribution – This study is unique in that it has focused exclusively on central banks of countries in Africa. It has also added value by considering the effect of central bank financial strength not only on inflation, but also on exchange rate and interest rate which are issues of serious concern in developing countries.
Źródło:: Journal of Economics and Management; 2018, 34; 147-169
1732-1948
Pojawia się w:: Journal of Economics and Management
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 4.

Tytuł:: The third currency war as an effect of post-crisis changes in the international currency system. The risk aspect – the case analyses of Brazil
Autorzy:: Pera, Jacek
Powiązania:: https://bibliotekanauki.pl/articles/522507.pdf
Data publikacji:: 2018
Wydawca:: Uniwersytet Ekonomiczny w Katowicach
Tematy:: Currency war
Easing
Financial crisis
Foreign exchange rate
Risk
Opis:: Aim/purpose – The objectives of the paper include: identification of factors that influence the directions of fluctuations of foreign exchange rates seen as manifestations of currency wars; description of the most important forms of currency wars conducted in the contemporary global economy (including in particular the currently observed third currency war); analysis of risks to contemporary financial markets and national economies posed by the third currency war. Design/methodology/approach – The paper uses the method of critical analysis of the literature on the subject, as well as US-China and Brazil case analyses. The Propensity Score Matching method was used in the study. Findings – The research findings confirmed the following hypotheses: contemporary fluctuations of foreign exchange rates in the largest economies of the world confirm that the third currency war is ongoing; the risk of consequences of the currency war destabilises the international and local financial markets and trade transactions among them. Research implications/limitations – The limited scope of the research performed is due to the fact that emerging economies have no control of devaluation or revaluation processes in their respective countries. However, large economies, such as China or Japan, are able to create the value of their respective currencies, thus artificially controlling the competitiveness of their products and services. These differences between small and large economies limit and distort the scope of the research done. Originality/value/contribution – Identification, analysis and results of the risks to contemporary financial markets and national economies posed by the third currency war.
Źródło:: Journal of Economics and Management; 2018, 31; 149-180
1732-1948
Pojawia się w:: Journal of Economics and Management
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 5.

Tytuł:: Dylemat wokół zmian kursów walut w świetle międzynarodowych i polskich standardów rachunkowości oraz ich wpływ na kapitały jednostki
Dilemmas around exchange rate differences of currencies in the light of international and polish standards of the accounting and their influence on capital of the individual
Autorzy:: Lis, Tomasz
Powiązania:: https://bibliotekanauki.pl/articles/587412.pdf
Data publikacji:: 2014
Wydawca:: Uniwersytet Ekonomiczny w Katowicach
Tematy:: Kapitał jednostki
Kurs walut
Rachunkowość
Capital unit
Exchange rate
Accountancy
Opis:: The exchange rate differences during a circulation year and on a balance day, in particular of the components of the assets a nd liabilities in the foreign currencies such as debts, obligations, credits, loans, monetary medium in the currency cash desk and on a currency bank accounts, financial investments, shares, bonds, monetary contributions in foreign currencies which have to cover shares in commercial companies are the result of the performed currency transactions.
Źródło:: Studia Ekonomiczne; 2014, 190; 90-99
2083-8611
Pojawia się w:: Studia Ekonomiczne
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 6.

Tytuł:: Konstrukcja płaszczyzny uśmiechu zmienności na rynku walutowym
Constraction of the Volatility Surface on Foregin Exchange Market
Autorzy:: Zasępa, Piotr
Powiązania:: https://bibliotekanauki.pl/articles/588756.pdf
Data publikacji:: 2013
Wydawca:: Uniwersytet Ekonomiczny w Katowicach
Tematy:: Kurs walutowy
Rynek walutowy
Zmienność kursu walutowego
Exchange market
Exchange rate variability
Exchange rates
Opis:: The foreign exchange market is one of the most important segments of the financial market. FX options market is also one of the largest in the world. In the case of the basic model of option pricing - Merton Scholes model variability Blacks used for option pricing is constant and flat over time and does not change in relation to the strike price. The term structure of volatility is creating volatility surfaces for which variability has different levels depending on the date and the exercise price of options. This paper presents the characteristics of the exchange rate and pattern construction plane volatility smile in the currency market. Article characterized the basic concepts of interpolation and extrapolation of pairs trading volatility certain exchange rates
Źródło:: Studia Ekonomiczne; 2013, 163; 267-283
2083-8611
Pojawia się w:: Studia Ekonomiczne
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 7.

Tytuł:: Exchange rate volatility and industrial output growth in Nigeria
Autorzy:: Oseni, Isiaq O.
Adekunle, Ibrahim A.
Alabi, Mumeen O.
Powiązania:: https://bibliotekanauki.pl/articles/522024.pdf
Data publikacji:: 2019
Wydawca:: Uniwersytet Ekonomiczny w Katowicach
Tematy:: Auto-Regressive Distribution Lag
Exchange Rate Volatility
GARCH
Industrial output
Nigeria
Opis:: Aim/purpose – This paper examines the relationship between exchange rate volatility and industrial output growth in Nigeria. In spite of the massive revenue emanating from oil wealth, Nigeria has wallowed in intergenerational poverty due to the inability to grow its industrial sector. The dilemma of exchange rate allowed growth of the industrial sector to become enormous. As such, this paper attempts a quantitative analysis of industrial output growth in Nigeria as predicted by an exchange rate volatility using a time series data from the exchange rate and the industry value added from 1986 through 2017. Design/methodology/approach – This paper adopts a quantitative analysis of exchange rate volatility as a predictor of changes in industrial output in Nigeria. Monthly Data on exchange rate from 1986 through 2017 were first analysed to show for their clustering behaviour. Thus, ascertaining whether they are volatile or not. The study employs AR(k)-EGARCH(p,q) models for the calculation of volatility in the growth rate of nominal exchange rates. Then the paper adopts the Auto-Regressive Distributed Lag Approach to account for the long-run and short-run dynamics of industrial output in Nigeria as induced by volatility in the exchange rate for different regimes under the scope. Findings – The findings reveal that the real exchange rate volatility determines industrial production as well as availability of foreign exchange increments arising from the various export drives contributing tremendously to the increase in the industrial output in Nigeria. It is further revealed that the capacity utilisation ratio was low. Research implications/limitations – Established evidence of low capacity utilisation may be due to the epileptic power supply, inadequate technological know-how. As such, the government should maintain a flexible exchange rate system to maximally harness the benefits of growth emanating from the industrial sector. Originality/value/contribution – The paper specifically offers an experimental proof to the underlying relationship between industrial output and exchange rate volatility in Nigeria. Previous studies reviewed in the literature have mostly focused on the growth effect of the exchange rate neglecting the important nexus it shares with the industrial sector (a bedrock of sustainable development).
Źródło:: Journal of Economics and Management; 2019, 38; 129-156
1732-1948
Pojawia się w:: Journal of Economics and Management
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 8.

Tytuł:: Effectiveness of macroeconomic policies in the context of closed and open economies
Autorzy:: Kubendran, N.
Powiązania:: https://bibliotekanauki.pl/articles/522561.pdf
Data publikacji:: 2016
Wydawca:: Uniwersytet Ekonomiczny w Katowicach
Tematy:: Closed economy
Economic growth
Exchange rate
Fiscal policy
Monetary policy
Open economy
Opis:: Monetary policy and fiscal policy are the two important macroeconomic policies which are used to achieve certain major macroeconomic goals like economic growth, unemployment reduction, counteract inflation and overall economic development of the nation. The effect of macroeconomic variables may differ in terms of degree, duration, different economic systems and under different exchange rate regimes. This study analyses the effectiveness of monetary policy and fiscal policy on the economy in terms of economic integration and different exchange rate regimes. Regression analysis in this study found that the fiscal policy is more effective in a closed economy and monetary policy is more effective in an open economy. Also the study finds that the fiscal policy is more effective under managed float exchange rate regime and monetary policy is more effective under perfectly flexible exchange rate. So this study also validated Mundell− Fleming model.
Źródło:: Journal of Economics and Management; 2016, 25; 30-47
1732-1948
Pojawia się w:: Journal of Economics and Management
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 9.

Tytuł:: Kontrakty futures w zarządzaniu ryzykiem walutowym w przedsiębiorstwie
Futures contracts in management exchange rate risk in the company
Autorzy:: Wróblewska, Katarzyna
Powiązania:: https://bibliotekanauki.pl/articles/591865.pdf
Data publikacji:: 2016
Wydawca:: Uniwersytet Ekonomiczny w Katowicach
Tematy:: Instrumenty pochodne
Ryzyko walutowe
Zarządzanie ryzykiem
Derivatives
Exchange rate risk
Risk management
Opis:: Ekspozycja na ryzyko walutowe jest nieodłącznym elementem działalności wielu przedsiębiorstw. Zasadniczym źródłem tejże ekspozycji jest ich aktywność handlowa w obrocie międzynarodowym. Świadomość wystąpienia ryzyka walutowego w przedsiębiorstwach związana jest z koniecznością opracowania strategii zarządzania nim z wykorzystaniem dostępnych na rynku instrumentów. Celem artykułu jest pokazanie istoty ryzyka walutowego oraz skali wykorzystania giełdowych instrumentów pochodnych do zabezpieczania się przedsiębiorstw przed tym ryzykiem. Autorka posłużyła się metodą krytycznej analizy literatury oraz prostymi metodami statystycznymi i graficznymi obrazującymi badane zjawisko
Facing exchange rate risk is an inevitable part of business for many companies due to their participation in international trade. The awareness of the exchange rate risk means that the companies should prepare a strategy of risk management using available instruments. The aim of the paper is to present the essence of exchange rate risk and to reveal how often derivatives are used by companies to hedge from the risk. The author carried out critical literature review and used basic statistical methods to present the problem.
Źródło:: Studia Ekonomiczne; 2016, 267; 189-200
2083-8611
Pojawia się w:: Studia Ekonomiczne
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 10.

Tytuł:: Opcje walutowe a optymalizowanie ryzyka walutowego w przedsiębiorstwie
Currency options and exchange rate risk optimization in the company
Autorzy:: Wróblewska, Katarzyna
Powiązania:: https://bibliotekanauki.pl/articles/589579.pdf
Data publikacji:: 2017
Wydawca:: Uniwersytet Ekonomiczny w Katowicach
Tematy:: Opcje walutowe
Ryzyko walutowe
Zarządzanie ryzykiem
Currency options
Exchange rate risk
Risk management
Opis:: Współczesne przedsiębiorstwa, które chcą się liczyć na zagranicznych rynkach, zwiększają współpracę międzynarodową, przez co są narażone na ryzyko walutowe. Dlatego też coraz częściej posługują się narzędziami służącymi zabezpieczeniu ekspozycji na takie ryzyko. Jednymi z takich narzędzi są instrumenty pochodne, a dokładniej opcje walutowe. Celem artykułu jest ukazanie istoty ryzyka walutowego oraz przedstawienie opcji walutowych jako instrumentu służącego do optymalizowania ryzyka walutowego. Autorka posłużyła się metodą krytycznej analizy literatury oraz prostymi metodami graficznymi obrazującymi badane zjawisko.
Modern companies that want to be reckoned on the foreign markets, increase the international cooperation, which exposes them to the currency risk. Therefore, they use more and more often some tools to protect against the exposure to the currency risk. One of these tools are the derivative instruments, namely the currency options. The aim of this article is to show the essence of the currency risk and to present the currency options as an instrument to optimize the currency risk. The author used the method of critical analysis of literature and some simple graphical methods illustrating the studied phenomenon.
Źródło:: Studia Ekonomiczne; 2017, 343; 134-148
2083-8611
Pojawia się w:: Studia Ekonomiczne
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 11.

Tytuł:: Dewaluacja waluty narzędziem poprawy wymiany handlowej – potencjalny przypadek Grecji
Currency devaluation as a tool to improve foreign trade – potential case of Greece
Autorzy:: Gąsiorek, Adam
Powiązania:: https://bibliotekanauki.pl/articles/593480.pdf
Data publikacji:: 2016
Wydawca:: Uniwersytet Ekonomiczny w Katowicach
Tematy:: Grecja
Handel zagraniczny
Kryzys gospodarczy
Kurs walutowy
Economic crisis
Exchange rate
Foreign trade
Greece
Opis:: Podczas negocjacji dotyczących udzielenia kolejnej transzy pomocy finansowej dla Grecji w połowie 2015 r. powróciła możliwość wyjścia tego kraju z europejskiej unii gospodarczo-walutowej. Zwolennicy takiego scenariusza wskazywali, że powrót do waluty narodowej oraz jej szybka dewaluacja wpłyną na wzrost wartości greckiego eksportu, co wprost przyczyni się do długo oczekiwanego ożywienia gospodarczego. Należy jednak wziąć pod uwagę specyficzne cechy, jakie dane państwo musi posiadać, aby wprowadzenie własnej waluty przyniosło więcej pozytywnych skutków aniżeli negatywnych. Grecka gospodarka dysponuje jedynie częścią z nich, w efekcie czego koszt zmiany byłby wysoki, a trwałe efekty pojawiłyby się dopiero w średnim lub długim okresie.
During the negotiations, which concerned the transfer of the next tranche of financial aid to Greece in mid-2015, returned the possibility of its exit from European EMU. Supporters of this scenario pointed out, that returning to the national currency and its rapid devaluation will impact on increase of the value of Greek export, which directly contribute to the long-awaited economic recovery. However, it should take account the specific features, which country must have, in order to introduce new currency brought more positive than negative effects. The Greek economy has only part of them, with the result that the cost of such a significant change would be high and the effects would arise only in the medium or long term.
Źródło:: Studia Ekonomiczne; 2016, 266; 261-272
2083-8611
Pojawia się w:: Studia Ekonomiczne
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 12.

Tytuł:: The relationship between Foreign Direct Investment, trade openness, exchange rate, and Gross Domestic Product per capita in Vietnam
Autorzy:: Nguyen, Anh Tru
Poczta-Wajda, Agnieszka
Powiązania:: https://bibliotekanauki.pl/articles/48459154.pdf
Data publikacji:: 2024
Wydawca:: Uniwersytet Ekonomiczny w Katowicach
Tematy:: Foreign Direct Investment (FDI)
trade openness
exchange rate
Gross Domestic Product (GDP) per capita
Opis:: Aim/purpose – This study explores the nexus between Foreign Direct Investment (FDI), trade openness, exchange rate, and Gross Domestic Product (GDP) per capita in Vietnam between 1986 and 2020. Design/methodology/approach – The Vector Error Correction Model (VECM) was used to evaluate the nexus between FDI, trade openness, exchange rate, and GDP per capita in Vietnam between 1986 and 2020. Moreover, the Johansen co-integration test examined the long-run relationship among these variables. Findings – Results address that GDP per capita, FDI, and trade openness may generate an appreciation of the Vietnamese currency in the short run. In the long run, we found that FDI inflows and trade openness support GDP per capita, but the depreciation of Vietnam Dong harms the economic growth of this country in the long run. The Johansen co-integration test confirmed a long-run association among GDP per capita, FDI inflows, trade openness, and exchange rate. Results also indicated a unidirectional causality running from GDP per capita and trade openness to FDI and exchange rate. In addition, a bidirectional causality ran from FDI to the exchange rate. Research implications/limitations – Policies were recommended to facilitate macroeconomic stability for Vietnam. First, fiscal and monetary policies should be carried out to achieve targets in macroeconomic stability, economic development, employment creation, and inflation control. Second, FDI inflows should continue to be encouraged since they accelerate economic growth. Still, FDI projects should concentrate on improving labor skills and technological progress and promoting sustainable development in crucial sectors such as agriculture, energy, and the environment. Third, fostering innovation in exports by shifting focus from raw materials and inputs exports towards processed and high-value-added commodities while also promoting exports from domestic enterprises to reduce reliance on exports from FDI enterprises. Lastly, improving flexible and active exchange rate regimes consistent with real conditions in both domestic and international markets is necessary to stabilize the exchange rate and foreign currency market in Vietnam. Originality/value/contribution – This paper contributes to the field by providing specific policy recommendations for Vietnam. These recommendations aim to stabilize the economy, attract FDI, renovate exports, and implement flexible and active exchange rate regimes.
Źródło:: Journal of Economics and Management; 2024, 46; 189-212
1732-1948
Pojawia się w:: Journal of Economics and Management
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 13.

Tytuł:: Prognozowanie kursów walut za pomocą szarych modeli
The application of the grey systems in the prediction of currency exchange rates
Autorzy:: Rzymowski, Witold
Surowiec, Agnieszka
Warowny, Tomasz
Powiązania:: https://bibliotekanauki.pl/articles/592958.pdf
Data publikacji:: 2018
Wydawca:: Uniwersytet Ekonomiczny w Katowicach
Tematy:: Estymacja parametrów
Kursy walut
Predykcja
Szare modele
Exchange rate
Grey model
Parameter estimation
Prediction
Opis:: Teoria szarych systemów zaproponowana w 1982 roku przez J. Denga zakłada, że proces modelowania pewnego zjawiska przebiega w warunkach niepełnej (szarej) informacji. Z uwagi na to, że szare modele umożliwiają budowę prognoz na podstawie ultrakrótkich szeregów czasowych, ocena stacjonarności (bądź jej brak) analizowanego szeregu czasowego zmiennej prognozowanej nie jest dokonywana. W artykule użyto trzech różnych metod estymacji parametrów szarych modeli. Za pomocą uzyskanych modeli dokonano predykcji kursów wybranych walut. Jako miarę użyteczności modelu przyjęto procentowy błąd względny prognoz wygasłych.
The purpose of this article is to present the possibilities of using the grey models theory in the prediction of short financial time series on the example of chosen currencies exchange rates. The period of analysis includes data from the years 2009- 2016. In the article, three different methods of parameters estimation of grey models are used. On the basis of these three methods the prediction results with an analysis of the relative errors are presented. The influence of the chosen parameters on the prediction result are investigated.
Źródło:: Studia Ekonomiczne; 2018, 366; 7-18
2083-8611
Pojawia się w:: Studia Ekonomiczne
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 14.

Tytuł:: The impact of exchange rate volatility on the Nigerian economic growth: An empirical investigation
Autorzy:: Ehikioya, Benjamin Ighodalo
Powiązania:: https://bibliotekanauki.pl/articles/522328.pdf
Data publikacji:: 2019
Wydawca:: Uniwersytet Ekonomiczny w Katowicach
Tematy:: Developing country
Economic growth
Exchange rate volatility
Generalized Autoregressive Conditional Heteroscedasticity
Generalized Method of Moments
Opis:: Aim/purpose – Exchange rate volatility has remained a serious issue affecting economic stability, especially in developing countries. Thus, this study aimed at examining the impact of exchange rate volatility on economic growth in Nigeria. Design/methodology/approach – The study employed the Generalized Autoregressive Conditional Heteroscedasticity (GARCH) model and the system Generalized Method of Moments (GMM) technique to analyse the time series data from the period January 1980 to December 2017. The study used the Augmented Dickey–Fuller and Philips–Perron tests to determine the presence of a unit root and the Johansen co-integration test to establish the relationship among the variables in the study. Findings – The results of the estimates offer evidence that exchange rate volatility persists throughout the study period, and has a negative and significant effect on the economic growth of Nigeria. This result suggests that excessive volatility due to low inflows is inimical to the growth of the Nigeria economy. The findings of the study demonstrate a negative and significant relationship between inflation and economic growth. Moreover, while credit to the private sector and crude oil prices exerts positive and significant relationship with growth, the relationship between money supply, trade openness and government expenditure and economic growth is positive but insignificant. Research implications/limitations – Therefore, it is important for the government to pursue policies and programs that would help ensure exchange rate stability and boost local production for both consumption and export. In addition, a holistic program of economic reforms is important to complement the exchange rate policy and stimulate economic growth. Originality/value/contribution – The study shed some light on exchange rate volatility and confirmed its adverse effect and the importance of a stable environment on economic growth. In addition, the study introduced crude oil prices as a variable to the study of exchange rate volatility and economic growth from a developing country perspective.
Źródło:: Journal of Economics and Management; 2019, 37; s. 45-68
1732-1948
Pojawia się w:: Journal of Economics and Management
Dostawca treści:: Biblioteka Nauki

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Skocz do pozycji: 15.

Tytuł:: Determinanty poziomu realnego kursu złotego w dobie globalizacji i jego konsekwencje dla handlu zagranicznego
The Determinants of Zlotys Real Exchange Rate in the Times of Globalization and Its Consequences for the Foreign Trade
Autorzy:: Michalczyk, Wawrzyniec
Powiązania:: https://bibliotekanauki.pl/articles/587912.pdf
Data publikacji:: 2013
Wydawca:: Uniwersytet Ekonomiczny w Katowicach
Tematy:: Globalizacja
Handel zagraniczny
Kurs walutowy
Kurs złotego
Złoty polski
Exchange rates
Foreign trade
Globalization
Polish Zloty
Polish Zloty exchange rate
Opis:: The aim of the article is to identify the main determinants of the zloty's real exchange rate in the period of 2000-2011 and its fundamental relations with the sphere of foreign trade. The article also points out the definition of the real exchange rate and analyses its formation with respect to the zloty. During the research task accomplishment, the analysis of literature and statistical analysis were used. As it was proved, the impact of zloty's real exchange rate level on the size of Polish foreign trade is quite significant. In turn, the most important determinants of the real value of Polish currency in the studied period, include primarily the accession effect, the inflow of capital from abroad and the phenomena associated with the crisis in the global economy and in the euro area.
Źródło:: Studia Ekonomiczne; 2013, 129; 117-126
2083-8611
Pojawia się w:: Studia Ekonomiczne
Dostawca treści:: Biblioteka Nauki

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