scholarly journals Short-run Dynamics Between Foreign Currency and Jakarta Composite Index During Indonesian Presidential Election

2021 ◽  
Vol 13 (2) ◽  
Author(s):  
Muhamad Fahri Ridwan ◽  
Wee-Yeap Lau
Keyword(s):  
Presidential Election ◽  
Foreign Currency ◽  
Composite Index ◽  
Short Run

META-ANALYSIS ON AMERICAN PRESIDENTIAL ELECTION - 2016 AND AMERICAN STOCK MARKET

2020 ◽  
Vol 38 (1) ◽  
Author(s):  
Farhan Ahmed ◽  
Salman Bahoo ◽  
Sohail Aslam ◽  
Muhammad Asif Qureshi
Keyword(s):  
Content Analysis ◽  
Stock Market ◽  
Event Study ◽  
Presidential Election ◽  
Republican Party ◽  
Stock Exchange ◽  
Meta Analysis ◽  
Composite Index ◽  
Stock Index ◽  
Political Event

This paper aims to analyze the efficient stock market hypothesis as responsive to American Presidential Election, 2016. The meta-analysis has been done combining content analysis and event study methodology. The all major newspapers, news channels, public polls, literature and five important indices as Dow Jones Industrial Average (DJIA), NASDAQ Stock Market Composit Indexe (NASDAQ-COMP), Standard & Poor's 500 Index (SPX-500), New York Stock Exchange Composite Index (NYSE-COMP) and Other U.S Indexes-Russell 2000 (RUT-2000) are critically examined and empirically analyzed. The findings from content analysis reflect that stunned winning of Mr Trump from Republican Party worked as shock for American stock market. From event study, findings confirmed that all the major indices reflected a decline on winning of Trump and losing of Ms. Clinton from Democratic. The results are supported empirically and practically through the political event like BREXIT that resulted in shock to Global stock index and loss of $2 Trillion.

A Downside Risk Analysis of Inflation Hedging Capabilities of Individual Assets and Optimal Asset Allocation

2021 ◽  
Vol 8 (1) ◽  
pp. 80
Author(s):  
Aftab Hussain Tabassam ◽  
Zafar Iqbal ◽  
Arshad Ali Bhatti ◽  
Amna Mushtaq
Keyword(s):  
World Bank ◽  
Asset Allocation ◽  
Foreign Currency ◽  
Investment Horizon ◽  
Medium Term ◽  
Optimal Portfolios ◽  
Monthly Data ◽  
Short Run ◽  
Asset Classes ◽  
Inflation Hedging

The objective of this study is to examine the inflation hedging capabilities of most widely used asset classes in Pakistan. It also attempts to find out the possibility of creating an inflation protected optimal asset mix. The sample consists of monthly data of cash, gold, stocks, foreign currency, real estate and inflation from 2005 to 2015. The major sources of data are SBP, World Bank and Pakistan Statistics Bureau. The downside analysis of these assets concludes that cash act as an inflation hedge for all the investment horizons. The findings showed that the Gold and stocks also have inflation hedging abilities in short run which extend to medium term investment horizon for gold only, while stocks appear to be a good inflation hedge for longer investment horizons. This study also suggests that investors can strategically create optimal portfolios that are hedged against inflation.

scholarly journals International Real Estate Review

2007 ◽  
Vol 10 (2) ◽  
pp. 1-22
Author(s):  
Lawrence Kryzanowski ◽  
◽  
Margarita Tcherednitchenko ◽  
Keyword(s):  
Interest Rate ◽  
Real Estate ◽  
Composite Index ◽  
Market Risk ◽  
Real Estate Investment Trusts ◽  
Common Stock ◽  
Real Estate Investment ◽  
Short Run ◽  
Equity Investments ◽  
Stock Portfolio

The return performance and factor sensitivities of Canadian equity real estate investment trusts (E-REITs) are examined. Today, typical and average Canadian E-REIT IPOs are correctly priced based on first- day and subsequent short-run returns. The overpricing evident earlier in the 1993-96 period for typical and average E-REIT IPOs has corrected. E-REITs are equity investments with about one-half the market risk, and greater ensitivity to interest-rate changes, than the S&P/TSX Composite Index. E-REITs outperformed the S&P/TSX Composite over the 1996-2004 period on a return, risk, and market- and/or risk-adjusted basis. Thus, E-REITs provided material diversification benefits with no sacrifice in return, when added to a common stock portfolio during the studied period.

Russian regions will benefit unevenly from recovery

2017 ◽  
Keyword(s):  
Exchange Rate ◽  
Presidential Election ◽  
Government Spending ◽  
Foreign Currency ◽  
Living Standards ◽  
Capital Inflows ◽  
Social Spending ◽  
Russian Regions ◽  
Official Statistics ◽  
Content Type

Subject Modest outlook for consumption in Russia Significance Data from the official statistics agency Rosstat suggest that the recession that began in late 2014 is coming to an end, but no one is predicting a spurt in growth. Consumers have been harder hit than during the 2008-09 recession, and falling real incomes have depressed retail sales. While the economy is improving overall, the picture varies widely by geography. Impacts Government spending plans indicate that welfare will be shielded from cuts affecting other areas. Social spending is important to stability ahead of the 2018 presidential election. A relaxation of Western sanctions may boost living standards if it leads to increased capital inflows. However, finance ministry plans to buy foreign currency to preserve exchange rate competitiveness may limit these gains.

scholarly journals Tea export competitiveness and the nexus between tea export and economic growth: The cases of Bangladesh, India and Sri Lanka

2021 ◽  
Vol 123 (2) ◽  
pp. 76-85
Author(s):  
Md. Sayemul Islam ◽  
Nishat Sultana Ema ◽  
Sudipto Chakrobortty ◽  
Hasneen Jahan ◽  
Md. Emran Hossain
Keyword(s):  
Economic Growth ◽  
Sri Lanka ◽  
Foreign Currency ◽  
Impulse Response Function ◽  
British India ◽  
Long Run ◽  
Export Competitiveness ◽  
Short Run ◽  
Johansen Cointegration Test ◽  
Test Outcomes

Tea export competitiveness and the nexus between tea export and economic growth: The cases of Bangladesh, India and Sri Lanka Long since the end of the British India regime, Bangladesh, India, and Sri Lanka have produced a signifi cant volume of tea which continues to bring them invaluable foreign currency earnings through exports. Our paper explores the tea export competitiveness of these countries by employing the Revealed Symmetric Comparative Advantage (RSCA) index, and analyses the nexus between tea export and economic growth over the period from 1980 to 2018 using several dynamic econometric approaches. Results suggest that Bangladesh has lost its tea export competitiveness over the last decade. India posted moderate performance, while Sri Lanka consistently kept its dominant position. Further, the Johansen Cointegration test outcomes report no long-run relationship between tea export and economic growth across all the countries. The Granger Causality outcomes illustrate that only in Sri Lanka is it the case that tea export causes short-run economic growth. Lastly, the impulse response function projects tea export and economic growth, taking into consideration the response of each to a shock from the other. Extrapolation from the results indicate that, in contrast to the cases of Bangladesh and India (where no direct relationship was found), tea export and economic growth are intimately interconnected in Sri Lanka. This article further recommends eff ective policies so that economic growth in these countries can remain steady and that their tea industries can thrive.

Volatility of Malaysian conventional and Islamic indices: does financial crisis matter?

2020 ◽  
Vol 11 (1) ◽  
pp. 1-11 ◽  
Author(s):  
Muhamad Abduh
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Stock Exchange ◽  
Composite Index ◽  
Least Square ◽  
Content Type ◽  
Long Run ◽  
Short Run ◽  
The Global Financial Crisis ◽  
The Impact

Purpose This study aims to investigate the volatility of conventional and Islamic indices and to explore the impact of the global financial crisis toward the volatility of both markets in Malaysia. Design/methodology/approach The data consist of financial times stock exchange group (FTSE) Bursa Malaysia Kuala Lumpur Composite Index and FTSE Bursa Malaysia Hijrah-Shari‘ah Index covering the period January 2008-October 2014. Generalized autoregressive conditional heteroskedasticity is used to find the volatility of the two markets and an ordinary least square model is then used to investigate the impact of the crisis toward the volatility of those markets. Findings Interestingly, the result shows that Islamic index is less volatile during the crisis compared to the conventional index. Furthermore, the crisis is proven to significantly affect the volatility of conventional index in the short run and Islamic index in the long run. Originality/value This study explores the volatility–financial crisis nexus, especially for the Islamic financial markets, which to the best of the author’s knowledge, is still lacking empirical research which may improve the understanding upon this issue.

scholarly journals PENGARUH MAKRO EKONOMI DAN PEMILIHAN PRESIDEN TERHADAP INDEKS HARGA SAHAM GABUNGAN DI BURSA EFEK INDONESIA: STUDI PERIODE 2012 – 2016

AdBispreneur ◽  
2017 ◽  
Vol 1 (3) ◽  
Author(s):  
Dian Fordian
Keyword(s):  
Exchange Rate ◽  
Presidential Election ◽  
Presidential Elections ◽  
Stock Exchange ◽  
Composite Index ◽  
Coefficient Of Determination ◽  
Political Sciences ◽  
The Us ◽  
Independent Variable ◽  
Variable Exchange

THE EFFECT OF MACRO-ECONOMIC AND PRESIDENTIAL ELECTIONS TO JAKARTA COMPOSITE INDEX ON INDONESIA STOCK EXCHANGE: STUDY PERIOD 2012 - 2016 Dian FordianDepartment of Business Administration ScienceFaculty Social and Political Sciences University of PadjadjaranEmail : [email protected] ABSTRACTThis study aimed to examine the effect of macro-economic indicators of Indonesia, inflation, BI rate, the rupiah against the US dollar, as well as the 2014 presidential election on Jakarta Composite Index  (JCI) in Indonesia Stock Exchange period from February 2012 until August, 2016.Data analysis method used is multiple linear regression. The results showed that the variable inflation, BI rate, exchange rate, and presidential elections simultaneously affect JCI. Variable exchange rate and the BI rate variable partially affecting JCI. The coefficient of determination in this research is at 0.8654. The figure shows the ability of independent variables in explaining or explain the dependent variable is equal to 86.54%, while the rest is explained by other independent variable that is not included in the regression model. Keywords: JCI, inflation, BI rate, exchange rate, the presidential election  PENGARUH MAKRO EKONOMI DAN PEMILIHAN PRESIDEN TERHADAP INDEKS HARGA SAHAM GABUNGAN DI BURSA EFEK INDONESIA: STUDI PERIODE 2012 – 2016 ABSTRAKPenelitian ini bertujuan untuk menguji pengaruh  makro ekonomi Indonesia yaitu inflasi, BI rate, nilai tukar rupiah, serta pemilihan presiden tahun 2014 terhadap Indeks Harga Saham Gabungan (IHSG) di Bursa Efek Indonesia periode bulan Februari 2012 sampai dengan bulan Agustus 2016.Metode analisis data yang digunakan adalah multiple linier regression. Hasil penelitian menunjukan bahwa variable inflasi, BI rate, nilai tukar, dan pemilihan presiden secara simultan mempengaruhi IHSG. Variable nilai tukar dan BI rate secara parsial mempengaruhi variable IHSG. Nilai koefisien determinasi dalam penelitian ini adalah sebesar 0.8654. Angka tersebut menunjukkan kemampuan variabel independen dalam menjelaskan atau menerangkan variabel dependennya adalah sebesar 86.54%, sedangkan sisanya dijelaskan oleh variabel independen lainnya yang tidak dimasukan dalam model regresi. Kata kunci: IHSG, inflasi, BI rate, nilai tukar rupiah, pemilihan presiden

scholarly journals DO ISLAMIC EQUITY STYLE INDICES CONTAIN ECONOMIC INFORMATION?

2020 ◽  
Vol 6 (4) ◽  
Author(s):  
Shahrin Saaid Shaharuddin ◽  
Wee-Yeap Lau ◽  
Tien-Ming Yip
Keyword(s):  
Composite Index ◽  
Economic Indicator ◽  
Var Model ◽  
Kuala Lumpur ◽  
Monthly Data ◽  
Fund Managers ◽  
Unidirectional Flow ◽  
Short Run ◽  
Style Indices ◽  
Flow Of Information

This study aims to investigate whether the Islamic equity style index containseconomic information which is useful for investors and financial practitioners. Thestudy fills the gap in the previous literature by investigating the relationshipbetween Islamic equity style indices and macroeconomic variables. Using aVector Autoregressive (VAR) model with monthly data from June 2006 to May2017, our results show that first, there is unidirectional flow of information fromLarge Growth (LG) to the Leading Economic Indicator (LEI); second, LargeGrowth (LG) Granger-causes the Kuala Lumpur Composite Index (KLCI); third,Large Value (LV) also Granger-causes KLCI. A robustness check with anAugmented VAR model obtained similar results to the short-run model. Ourresults imply that equity style indices have prior information which is faster thanLEI and KLCI. This knowledge is certainly useful for fund managers whendesigning Shariah-compliant portfolio investments. For policymakers, Islamicequity style indices are useful for predicting the direction of other macroeconomicvariables such as business cycles, and hence help to predict the future directionand turning points in the economy.

scholarly journals TOURISM – ECONOMIC GROWTH NEXUS. THE CASE OF ROMANIA

2020 ◽  
Vol 26 (4) ◽  
pp. 867-884
Author(s):  
Alina Badulescu ◽  
Daniel Badulescu ◽  
Ramona Simut ◽  
Simona Dzitac
Keyword(s):  
Economic Growth ◽  
Causal Relationship ◽  
Foreign Currency ◽  
Causal Effect ◽  
International Tourism ◽  
Long Run ◽  
International Tourist ◽  
Short Run ◽  
The Relationship ◽  
Academic Debate

The development of tourism is usually associated, in positive terms, with economic development, foreign currency inflows, employment opportunities, infrastructure improvements, sustainable development and poverty alleviation. However, the nature of the tourism-growth relationship is still a matter of academic debate, and, perhaps, an expression of the inconsistencies and contradictions of public policies designed to support this industry. Researchers and practitioners have not yet come to an agreement on a number of fundamental questions: does tourism stimulate economic growth or the converse, and whether the causality, if it does exist, is uni or bidirectional, is constant or can change its direction in the medium - or long run. The present paper investigates the relationship between Gross Domestic Product (GDP) per capita and international tourism in Romania, over the 1995–2016 period. Our results show that the causal effect of the GDP on the international tourist arrivals and on the international tourism receipts is significant in the long run in Romania. In the short-run, we find a unidirectional causal relationship from the international tourism receipts to GDP, and a bidirectional causal relationship between GDP and the number of international tourist arrivals.

scholarly journals Re-examining the impact of financial intermediation on economic growth: evidence from Turkey

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ibrahim Nandom Yakubu ◽  
Aziza Hashi Abokor ◽  
Iklim Gedik Balay
Keyword(s):  
Economic Growth ◽  
Financial Intermediation ◽  
Composite Index ◽  
Principal Component ◽  
Annual Data ◽  
Bounds Testing ◽  
Content Type ◽  
Long Run ◽  
Short Run ◽  
The Impact

PurposeThis study seeks to investigate the impact of financial intermediation on economic growth in Turkey using annual data spanning 1970–2017.Design/methodology/approachBased on the results of the augmented Dickey–Fuller and Phillips–Perron unit root tests for stationarity, the authors employ the Autoregressive Distributed Lag (ARDL) bounds testing to cointegration to establish the long-run impact of financial intermediation alongside other control factors on economic growth. The study also examines the short-run relationship between financial intermediation and economic growth by estimating the Error Correction Model (ECM).FindingsThe authors’ findings indicate that financial intermediation significantly influences economic growth in both short and long run. However, the effect is positive only in the short run, lending support to the supply-leading hypothesis. Regarding the control variables, the authors observe that while financial openness shows a positive significant impact on economic growth in the long run, gross fixed capital formation matters only in the short run. The results further infer that regardless of the time period, inflation impedes economic growth.Originality/valueIn the empirical analysis of the relationship between financial intermediation and economic growth, financial intermediation is always measured using a single variable. The authors argue that such studies could produce bias and misleading results given that a single proxy does not adequately reflect financial intermediation activities. Likewise, such findings may delude policy implementation. To provide a more vivid and robust analysis, the authors employ the Principal Component Analysis (PCA) to construct a composite index for financial intermediation based on three broad measures. The researchers’ are unaware of any study on the financial intermediation–economic growth nexus using a composite index of financial intermediation. Thus, this paper fills this lacuna in the literature.

Sign in / Sign up

Export Citation Format

Share Document