scholarly journals ANALISIS PENGARUH INFLASI, TINGKAT SUKU BUNGA SBI DAN NILAI TUKAR TERHADAP JUMLAH UANG YANG BEREDAR DI INDONESIA Periode 2001 s/d 2006

IQTISHODUNA ◽  
2011 ◽  
Vol 3 (1) ◽  
Author(s):  
Indah Yuliana, SE., MM,
Keyword(s):  
Exchange Rate ◽  
Inflation Rate ◽  
Research Result ◽  
World Market ◽  
Global Market ◽  
Relative Influence ◽  
Real Sector ◽  
Balance Of Trade ◽  
Trade Partner ◽  
Partner State

There are many macro economic indicators which is usually used to measure wheel growth of state, for example that is inflation, exchange rate, rate of interest storey; level and also the amount of money supplies in state. Distortion movement of difficult exchange rate in order to be known and forecasted. it exchange rate very base on various factor, among others that is moneys amount and inflation circulating. Moneys amount circulating by relative influence exchange rate. Whether in home affairs and in international world. A currency will decrease the value of if moneys amount circulating more. Each there is sign indicating that the amount of moneys circulating to grow swiftly hence surely the money available in number many and the him of declining. Strength of economics fundamental a state in emulation in world market reflected to through dealt only with state currency value is other state. If real sector can print surplus to trade partner state, relatively will strengthen and improve currency value and if real sector asset productivity not optimal hence balance of trade and transaction will experience of deficit. This influence exchange rate depressions, so that have no other way to except isn't it currency on the chance of domestic product competitiveness can mount sold cheaper product to global market. This Research target is first is to see influence of inflation, rate of interest storey; level of SBI and exchange rate by simulate to moneys amount circulating in Indonesia, secondly is among inflation, rate of interest storey; level of SBI and exchange rate, which was which is dominant of influence of to moneys amount circulating in Indonesian. Analyzer the used is doubled linear regress. This Research result is ( 1) By simulate inflation, level of SBI and exchange rate have an effect on to moneys amount circulating in Indonesia period 2001 to 2006. (2) Variable mount rate of interest of SBI is dominant Variable of influence of to moneys amount circulating in Indonesia period 2001 to 2006.

scholarly journals Economic productivity and competitiveness of Ukrainian exports due to the global challenges

2021 ◽  
Vol 107 ◽  
pp. 01002
Author(s):  
Lesia Petkova ◽  
Olena Berezina ◽  
Iryna Honcharenko ◽  
Ihor Osadchenko
Keyword(s):  
Economic Policy ◽  
Global Economy ◽  
Research Result ◽  
World Market ◽  
Global Market ◽  
Economic Productivity ◽  
Iron And Steel ◽  
National Economic ◽  
Innovative Products ◽  
Productivity And Competitiveness

Productivity and economic growth are key factors to maintain and improve the competitiveness of nations in the global market. The paper analyzes the prospects for the competitiveness of Ukrainian exports in the terms of pandemic circumstances and post-pandemic recovery of the global economy. The prospects for strengthening the competitiveness of Ukraine’s economy evaluating based on the modified approach for assessing the revealed comparative advantage. The dynamics and structure of major industries exports were estimating. The research result proved that the growth of innovative products in the iron and steel industry increases its competitiveness in the world market. The established reduction of the identified comparative advantages index for the main exports positions reflects the presence of structural and technological lags in the modern structure of the national economy and requires economic policy measures aimed at long-term action. Respectively, the main goals of contemporary national economic policy aimed at promoting the export competitiveness of Ukrainian products (goods & services) have to be the stimulating of R&D, infrastructure modernization and capital deepening.

scholarly journals How Do Inflation Rate, BI Rate, and Balance of Trade Directly Affect IDR to USD Exchange Rate and Indirectly Affect IDX Composite Index in Initial Stage of Covid-19 Outbreak?

2021 ◽  
Vol 12 (1) ◽  
pp. 56
Author(s):  
Hilarius Bambang Winarko ◽  
Julius Caesare Wahono ◽  
Yuniningsih Yuniningsih ◽  
Sri Tunggul Pannindriya
Keyword(s):  
Exchange Rate ◽  
Significant Influence ◽  
Inflation Rate ◽  
Stock Exchange ◽  
Composite Index ◽  
Quantitative Methodology ◽  
Financial Variables ◽  
Initial Stage ◽  
Macroeconomic Indicators ◽  
Balance Of Trade

This study is trying to fill the research gap by understanding how several important financial variables interplay and affect the macroeconomic indicators, especially in developing country like Indonesia during the financial crisis period caused by the unexpected and sudden Covid-19 pandemic outbreak. The purpose of this research is to determine the direct effect of the inflation rate, Bank Indonesia (BI) rate, and Balance of Trade on the movement of Indonesia Rupiah (IDR) currency stability against US Dollar (USD) and indirect impact to the Indonesia Stock Exchange (IDX) Composite index in Indonesia during the initial stage of the pandemic outbreak. To achieve the research objectives, this study uses the Rupiah exchange rate against USD and IDX Composite index as the dependent variables, while the Inflation rate (CPI), BI rate, and Balance of Trade as the independent variables. The quantitative methodology is used in this research by applying linear and multiple simple regression techniques. The results of this research show that the Inflation rate, BI rate, and Balance of Trade were significantly affecting the Rupiah exchange rate against the USD, and it found that the most dominant variable in this model was the BI rate. The Inflation rate and Balance of Trade partially had no direct significant influence toward the movement of the Rupiah exchange rate against the USD during the critical anticipation period of Covid-19 pandemic outbreak. Furthermore, Rupiah exchange rate against the USD gave a significant influence toward the IDX Composite index.

scholarly journals Monetary Policy Variables Relevance on Balance of Payments Adjustment in Nigeria 1980-2020

2021 ◽  
Vol 07 (08) ◽  
Author(s):  
Gerald, Chimezie Nwadike ◽  
◽  
Keyword(s):  
Monetary Policy ◽  
Exchange Rate ◽  
Gross Domestic Product ◽  
Budget Deficit ◽  
Inflation Rate ◽  
Balance Of Payments ◽  
Real Gross Domestic Product ◽  
Domestic Credit ◽  
Balance Of Trade ◽  
The Government

This study examines monetary policy relevance on the Nigerian balance of payments adjustment, form 1980-2020. Objectives are; to examine the relevance of monetary policy variables such as Exchange rate, Inflation rate, Balance of trade, Real Gross Domestic Product and Domestic Credit on the Nigerian balance of payments adjustment. Evaluate the significant speed of adjustment of monetary policy variables such as Exchange rate, Inflation rate, Balance of trade, Real Gross Domestic Product and Domestic Credit on the balance of payments adjustment within the period under study. The study employed the following advanced econometric techniques; Augmented Dickey-Fuller (ADF) and Phillips-Perron (PP) tests, chow test, ECM model OLS model, statistical tests & Co-integration test. Based on the above econometric techniques conducted, it was observed that group unit root test result shows that variables used in the study became stationary after the first differenced at degree of order one I(I). There is Co-integration (long run relations) among variables used in the study. Our results indicated rejection of the two null hypotheses of this study and acceptation of the alternative three hypotheses that said; Nigerian monetary policy variables such as Exchange rate, Inflation rate, Balance of trade and Domestic Credit have significant relevance on the Nigerian balance of payments adjustment. Nigerian monetary policy variables used have significantly three years to adjust balance of payments adjustment in the Nigerian economy within the period of the study. The researcher recommends that; the need to manage domestic liquidity wisely in view of the tremendous pressure on the balance of payments of excess money. A determined effort to mobilize resources through private saving and the implementation of a prudent fiscal policy through efficient collection of tax revenues, rationalization of government expenditure towards growth enhancing and poverty reduction programmes will also enable the government to pursue its development programs without having to rely on the monetization of its budget deficit. Overall concentration on monetary tools solely should be reduced and employ other policy instruments to correct the balance of payment fluctuation. The government should also be cautious of budget deficit that are often time financed by internal borrowings.

NEXUS BETWEEN FINANCIAL LIBERALIZATION, BALANCE OF PAYMENT AND ECONOMIC GROWTH IN NIGERIA

2020 ◽  
Vol 3 (2) ◽  
Author(s):  
Danladi Jonathan Dastu ◽  
Faweya Kolapo Vincent
Keyword(s):  
Economic Growth ◽  
Exchange Rate ◽  
Inflation Rate ◽  
Financial Liberalization ◽  
Trade Openness ◽  
Secondary Data ◽  
Data Availability ◽  
Data Framework ◽  
Official Exchange Rate ◽  
Balance Of Trade

The objectives of this paper are to examine the nexus between financial liberalization, balance of payment and economic growth in Nigeria. The scope of this study due to data availability, especially on measures of balance of payment, covers the period of 1986-2017. This study adopts econometrics techniques of analysis by using Panel Unit Root Tests and Co-integration analysis which is used to determine the long run relationship among economic variables. To test the co-integration relationship this study followed the methodology proposed by Pedroni (1991) who extends the Engle and Granger (1987) two step procedure to heterogeneous panel data framework. The study adopts annual time series secondary data for the period of 1986 to 2017. Balance of payment, Official Exchange Rate, Inflation rate (%), Balance of trade, Trade openness, Real Gross Domestic Product growth, and Term of Trade, all data used were obtained from the World Development Indicators. The findings of this study revealed that an increase in exchange rate,interest rate, inflation rate, and trade openness have negatively affect economic growth. Hence, changes or movements in these variables do not necessarily prompt the liberalization decision in the real sector. Therefore, the need to address balance of payment is important, in accordance with the low rate of development in Nigeria. We therefore, recommend that government should monitor both Fiscal and Monetary policies’ variables that can significantly influence economic growth in Nigeria.That is, adequate balance of payment that can encourage appropriate financial liberalization should be put in place with, Official Exchange Rate, Inflation rate (%), Balance of trade, Trade openness.

Exchange Rate Regimes and Economic Stability

2010 ◽  
pp. 29-43
Author(s):  
S. Smirnov
Keyword(s):  
Exchange Rate ◽  
Inflation Targeting ◽  
Exchange Rate Regime ◽  
Exchange Rate Policy ◽  
Real Sector ◽  
Economic Stability ◽  
Exogenous Shocks ◽  
Floating Exchange Rate ◽  
Rate Policy ◽  
Managed Floating

The Bank of Russia intends to introduce inflation targeting policy and exchange rate free floating regime in three years. Exogenous shocks absorption which stabilizes the real sector of economy is usually considered to be one of the advantages of free floating exchange rate policy. However, our research based on the analysis of 25 world largest economies exchange rates and industrial production during the crisis of 2008-2009 does not confirm this hypothesis. The article also analyzes additional risks associated with free floating exchange rate regime in Russia and presents some arguments in favor of managed floating exchange rate regime.

Macroeconomic Variables and Private Investment: A Two Dimensional Study from Nigeria Economy

2019 ◽  
pp. 20-37
Keyword(s):  
Exchange Rate ◽  
Interest Rate ◽  
Private Equity ◽  
Inflation Rate ◽  
Private Investment ◽  
Financial Deepening ◽  
Equity Investment ◽  
Macroeconomic Variables ◽  
Insignificant Effect ◽  
Real Investment

The study investigated the impact of macroeconomic variables on private investment in Nigeria for the period 1990 to 2016. To achieve these objectives, the study tests for the study modeled private equity and private real investment as the function exchange rate, financial sector development, and interest rate, openness of the economy, real gross domestic product, inflation rate and broad money supply. Ordinary least square method of data analysis was used. From model one, the study found that real gross domestic product have positive but insignificant effect, openness of the economy have positive and insignificant effect, interest rate have positive and significant effect, financial deepening have positive and insignificant effect while interest rate, inflation rate and exchange rate have negative effect on private real investment. The coefficient of determination (R2) proved that the independent variables can explain 62 percent variation on private real investment; the f- statistics found that the model is significant while the Durbin Watson statistics proved the presence of serial autocorrelation. The effect of macroeconomic variables on private equity investment was presented in model two. The study found that openness of the economy; real gross domestic products, broad money supply, and interest rate have negative and insignificant effect on private equity investment except openness of the economy with significant effect. Inflation rate, financial sector deepening and exchange rate have positive and insignificant effect on private equity investment except financial deepening with significant effect. The R2 proved that the independent variables can predict 66.9 percent variation on private equity investment. The f- statistics found that the model is significant while the Durbin Watson statistics proved the presence of serial autocorrelation. We conclude that macroeconomic variable have significant effect on private investment in Nigeria. We recommend that interest rate must be able to encourage higher private investment by increasing the real interstate on private savings or household savings so that larger amount of income would be saved to accumulate more capital and hence private investment. Policies should be formulated by investors and government to discourage factors that affect negatively private investment.

scholarly journals Effects of Bilateral Real Exchange Rate on Sino-Nigeria Trade: An ARDL Cointegration Approach

2018 ◽  
Vol 10 (7) ◽  
pp. 125
Author(s):  
Julio Felippe Bicudo ◽  
Nnanna P. Azu
Keyword(s):  
Exchange Rate ◽  
Bilateral Trade ◽  
Bilateral Exchange ◽  
Long Run ◽  
Rate Fluctuation ◽  
Ardl Approach ◽  
Short Run ◽  
Negative Role ◽  
Balance Of Trade ◽  
Negative Balance

This research is motivated to scrutinise the effects of real bilateral exchange rate fluctuation on China-Nigeria bilateral trade, taking into consideration volatility and third country’s bilateral exchange rate effect to determine their consequences. Due to its robustness in time series analyses, an ARDL approach to co-integration was used to determine the long-and short-runs effects. Both export and import were considered separately. Outcome revealed that Nigeria’s import from China responds negatively to real bilateral exchange rate increase just as it does to its volatility. Her export to China reacts positively on both front, most especially in the short-run. Japan was integrated as a third country in this research due to her competing presence in Nigerian market. Third country’s real bilateral exchange rate play prominent but negative role in China-Nigeria trade, and is mostly effective in the long-run. With the absolute value of the co-efficient of real bilateral exchange rate greater than one, depreciating the Naira against the Renminbi will tend to ameliorate the negative balance of trade Nigeria has with China. Finally, democratic regime was found to be very essential in enhancing international business.

scholarly journals Inflation Expectations in Turkey: Determinants and Roles in Missing Inflation Targets

2018 ◽  
Vol 7 (3) ◽  
pp. 73-90 ◽  
Author(s):  
Umit Bulut
Keyword(s):  
Exchange Rate ◽  
Inflation Targeting ◽  
Inflation Rate ◽  
Oil Price ◽  
Output Gap ◽  
Inflation Expectations ◽  
Inflation Target ◽  
Distributed Lag ◽  
Expected Inflation ◽  
Target Output

Abstract This paper aims at specifying the determinants of 12-month ahead and 24-month ahead inflation expectations in Turkey by using monthly data from April 2006 to December 2016. Put differently, this paper tries to shed light on how inflation expectations respond to changes in past inflation rate, inflation target, output gap, USD/TL exchange rate, oil price, and EMBI in Turkey. To this end, the paper first conducts unit root tests in order to detect the order of integration of the variables. Then, the paper employs the autoregressive distributed lag approach to examine whether there is a cointegration relationship among variables and to estimate long-run parameters. According to the findings, 12-month ahead expected inflation rate is positively related to past inflation rate, inflation target, output gap, USD/TL exchange rate, and oil price and is negatively related to EMBI. Besides, 24-month ahead expected inflation rate is positively related to past inflation rate and USD/TL exchange rate and is negatively related to inflation target and EMBI. Upon its findings, the paper makes some inferences about the success of inflation targeting strategy in Turkey.

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

2019 ◽  
Vol 1 (2) ◽  
pp. 28-35
Author(s):  
Friday Osaru Ovenseri Ogbomo ◽  
Precious Imuwahen Ajoonu
Keyword(s):  
Economic Growth ◽  
Exchange Rate ◽  
Inflation Rate ◽  
Government Expenditure ◽  
Least Square ◽  
Ordinary Least Square ◽  
Exchange Rate Management ◽  
Long Run ◽  
Short Run ◽  
The Impact

This paper examined the impact of Exchange Rate Management on economic growth in Nigeria between 1980 and 2015. The study was set to gauge how the management of exchange rate in Nigeria has impacted the economy. The study employed the Ordinary Least Square (OLS) method in its analysis. Co-integration and Error Correction Techniques were used to establish the Short-run and Long-run relationships between economic growth and other relevant economic indicators. The result revealed that exchange rate management proxy by various exchange rates regimes in Nigeria was not germane to economic growth. Rather, government expenditure, inflation rate, money supply and foreign direct investment significantly impact on economic growth in Nigeria. It is against this backdrop that the Nigerian economy must diversify her export base to create room for more inflow of foreign exchange.  

scholarly journals MACROECONOMIC ASPECTS OF THE ANALYSIS OF THE WORLD MARKET OF SPACE PRODUCTS AND SERVICES

2019 ◽  
pp. 77-81
Author(s):  
A. Krishtofor
Keyword(s):  
Russian Federation ◽  
World Market ◽  
Global Market ◽  
International Competition ◽  
Organizational Characteristics ◽  
Space Industry ◽  
Space Activity ◽  
The World ◽  
The Russian Federation ◽  
Global Patterns

The main organizational characteristics of the world space industry in the context of increased international competition have been determined. The most characteristic changes in the global market of space products have been identified. The methodology of the analysis of the world market of space products and services has been presented. As a result of the analysis of the successful international experience in the development of the space industry and the trends of the world space activity, the global patterns, that need to be taken into account in the implementation and planning of measures to improve the competitiveness of space activity of the Russian Federation have been revealed.

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