scholarly journals Foreign exchange intervention and exchange rate volatility in Peru

2010 ◽  
Vol 17 (15) ◽  
pp. 1485-1491 ◽  
Author(s):  
Alberto Humala ◽  
Gabriel Rodríguez
Keyword(s):  
Exchange Rate ◽  
Foreign Exchange ◽  
Exchange Rate Volatility ◽  
Foreign Exchange Intervention

scholarly journals Impact of Exchange Rate Management on the Nigerian Economic Growth: Empirical Validation

2019 ◽  
pp. 28-35
Keyword(s):  
Exchange Rate ◽  
Central Bank ◽  
Foreign Exchange ◽  
Foreign Exchange Market ◽  
Exchange Rate Volatility ◽  
Monetary Economics ◽  
Exchange Market ◽  
Central Bank Intervention ◽  
Foreign Exchange Intervention ◽  
International Money

Adewuyi, (2002). Balance of Payments Constraints and Growth Rate Differences under Alternative Police Regimes. Nigerian Institute of Social and Economic Research (NISER) Monograph Series No. 10, Ibadan, Nigeria. Adebiyi, M. A. (2007). An Evaluation of Foreign Exchange Intervention and Monetary Aggregates in Nigeria (1986-2003). The University of Munich Finance Journal, 4 (2),1-19. Aghin, P.; Bacchetta, P.; Ranciere, R. & Rogoff, K. (2006). Exchange rate volatility and productivity growth: The role of financial development. Journal of Monetary Economics, 56 (4), 494–51. Bonser-Neal, C. & Tanner, G. (1996). Central Bank Intervention and Volatility of Exchange Rates: Evidence from the Options Market. Journal of International Money and Finance, 18 (2), 23-45. Dominguez, K. (1990). Market Responses to Coordinated Central Bank Intervention. Carnegie Rochester Conference Series on Public Policy, 32 Dominguez, K. (1998). Central Bank Intervention and Exchange Rate Volatility. Journal of International and Finance, 15 (4). Dominguez, K & Frankel, J. A. (1993). Does Foreign Exchange Intervention matter? The Portfolio effect. American Economic Review, 83 (5), 231-259 Dubas, J.M., Lee, B.J., & Mark, N.C. (2005). Effective Exchange Rate Classifications and Growth. NBER Working Paper No. 11272 Frankel, J.A. ((1992). In search of the Exchange rate Premium: A Six-Currency Test assuming mean-variance optimization. Journal of International Money and Finance,1(2),19-32 Gosh, A. (1992). Is it Signinaling? Exchange Rate intervention and the Dollar Deutssche-Mark Rate. Journal of International Economics, 32(4), 45-67 Granger, C.W.J. & Newbold, P. 1974). Spurious regression in Econometrics, Journal of Econometrics 2 (4) 111-120. Harris R.G. (2002). New Economy and the Exchange Rate Regime. Centre for International Economics Studies, Discussion paper, No 111. Humpage, O. (1989). On the Effectiveness of Foreign Exchange Market Intervention. Federal Reserve Bank of Cleveland. Kaminsky, G & Lewis, K (1996). Does Foreign Exchange Intervention signal future monetary policy? Journal of Monetary Economics, 37(2), 66-89 Nwankwo (G.O) (1980). Money and capital markets in Nigeria Today. University of Lagos Press, Nigeria. Odusola A.F. and Akinlo, A.E. (2001). Output, Inflation, and Exchange Rate in Developing Countries: An Application to Nigeria. Developing Economies, 39(2). Oloyede, J. A. (2002). Principles of International Finance. Forthright Educational Publishers, Lagos. Rano-Aliyu S.U. (2009). Impact of Oil Price Shock and Exchange Rate Volatility on Economic Growth in Nigeria: An Empirical Investigation. Research Journal of International Studies 10(4) 23-45. Rognoff, K. (1984). The effects of sterilized intervention: An analysis of weekly data. Journal of Monetary Economics, 2 (2), 14-34. Sarno, L. & Taylor, M. P. (2001). Official intervention in the Foreign Exchange Market: Is it effective, and if so, how does it work? Journal of Economic Literature, 3(1), 39-56. Simatele, M.C.H.(2003). Financial Sector Reforms and Monetary Policy in Zambia. Ph.D Dissertation, Economics Studies, Department of Economics, School of Economics and Commercial Law, Goteborg University. Unugbro, A.O (2007). The Impact of Exchange Rate Fluctuation on Capital Inflow: The Nigerian Experience. The Nigeria Academic Journal of Social Sciences, 6(4),1-21

scholarly journals Determination of China’s foreign exchange intervention: evidence from the Yuan/Dollar market

2017 ◽  
Vol 34 (1) ◽  
pp. 62-81 ◽  
Author(s):  
He Li ◽  
Zhixiang Yu ◽  
Chuanjie Zhang ◽  
Zhuang Zhang
Keyword(s):  
Exchange Rate ◽  
Central Bank ◽  
Foreign Exchange ◽  
Foreign Exchange Market ◽  
Exchange Rate Regime ◽  
Exchange Rate Volatility ◽  
Rmb Exchange Rate ◽  
Content Type ◽  
Foreign Exchange Intervention ◽  
Basic Model

Purpose The paper aims to investigate the determinants of China’s daily intervention in the foreign exchange market since the 2005 reform aimed at moving the Renminbi (RMB) exchange rate regime towards greater flexibility. Design/methodology/approach The paper uses bivariate probit models to test whether China’s intervention decision is driven by three sets of factors, comprising Model I (basic model), Model II and Model III. Findings Evidence from the models suggests that medium-term Chinese interventions tend to be leaning-against-the-wind, whereas long-term interventions are leaning-with-the-wind. Furthermore, by analyzing exchange rate volatility, this paper finds that intervention is used by the Chinese central bank to ensure that there are no big swings in the RMB exchange rate. Originality/value The paper will be of value to other researchers attempting to understand the policy of the central bank and, in particular, the factors that can lead to interventions during periods of financial crisis.

scholarly journals Are the Responses of Sectoral Energy Imports Asymmetric to Exchange Rate Volatilities in Pakistan? Evidence From Recent Foreign Exchange Regime

2021 ◽  
Vol 9 ◽  
Author(s):  
Abdul Saqib ◽  
Tze-Haw Chan ◽  
Alexey Mikhaylov ◽  
Hooi Hooi Lean
Keyword(s):  
Exchange Rate ◽  
Crude Oil ◽  
Foreign Exchange ◽  
Exchange Rate Volatility ◽  
Asymmetric Effects ◽  
Unit Root Testing ◽  
Long Run ◽  
Short Run ◽  
Bound Test

Growing energy demand but stagnant production followed by volatile exchange rate leads Pakistan to energy imbalances and potential economic contraction. Yet, studies on sectoral energy imports are limited and inconclusive without accessing the asymmetric effect of currency fluctuations. We examine the impacts of Pakistani rupee volatility on monthly energy imports based on the nonlinear autoregressive distributed lag (NARDL) estimations. Augmented Dickey–Fuller and Phillips–Perron tests were used to conduct unit root testing, and the bound testing approach was used to examine the long-term cointegration. The long-run asymmetry was tested with the Wald test, and using the NARDL model, we examined both short-run and long-run asymmetric effects of exchange rate volatility on energy imports. The bound test was established and supported through ECMt−1 (t-test), cointegrating the relationship between exchange rate volatility and energy imports in a long term. Among others, both short-run and long-run asymmetric effects were found for crude oil, coal, electricity, and petroleum products. Rupee depreciation increased crude oil and electricity imports, while the appreciation effects were insignificant. Overall, the empirical assessment reveals that the foreign exchange volatility effect is sectoral specific and asymmetric in Pakistan. It offers new insights into re-strategizing the energy policy and refining the import substitution plan.

Sign in / Sign up

Export Citation Format

Share Document