scholarly journals Determinants of Macroeconomic Variables on Islamic Stock Index: Evidence from Frontier Market

2020 ◽  
Vol 5 (1) ◽  
pp. 23
Author(s):  
Noor Hafizha Muhamad Yusuf ◽  
Natasha Aliana Muhamad Hilmi ◽  
Wan Mohd Yaseer Mohd Abdoh ◽  
Rozihanim Shekh Zain ◽  
Noor Sharida Badri Shah
Keyword(s):  
Exchange Rate ◽  
Gross Domestic Product ◽  
Money Supply ◽  
Significant Relationship ◽  
Emerging Market ◽  
Oil Price ◽  
Stock Index ◽  
Domestic Product ◽  
Fe Model ◽  
Macroeconomic Variables

This paper provides useful insights on the determinants of macroeconomic variables on Islamic stock index evidence from frontier market. The aims of this study is to examine the effect of macroeconomic variables namely gross domestic product (GDP), inflation (consumer price index), exchange rate (USD exchange rate), oil price (crude palm oil) and money supply (M2) on frontier market Islamic index (FMII). This study employs Fixed Effect (FE) model of 17 countries listed under FMII. The study cover a ten (10) years period from 2008 until 2017. The study have shown significant relationship between inflation, money supply and exchange rate with FMII and managed to reject null hypotheses for the three variables. Inflation and exchange rate is negatively related with FMII while money supply, gross domestic product and oil price is positively related to FMII. However, the study fails to find any significant relationship between gross domestic product and oil price with FMII. The findings of this study will provide better understanding on the frontier market and helps to improve their performance. Therefore, it can encourage countries in frontier market to be able to compete and achieve similar advancement as countries in developed and emerging market did.

scholarly journals Selected Macroeconomic Variables and Agricultural Sector in Nigeria

2021 ◽  
Vol 7 (06) ◽  
Author(s):  
James Ese Ighoroje ◽  
Catherine, Ogheneovo Orife
Keyword(s):  
Exchange Rate ◽  
Interest Rate ◽  
Gross Domestic Product ◽  
Money Supply ◽  
Agricultural Sector ◽  
Least Square ◽  
Domestic Product ◽  
Agricultural Output ◽  
Macroeconomic Variables ◽  
Ex Post

The study investigated effect of selected macroeconomic variables on agricultural sector output in Nigeria from 1987 - 2019. Annual Agricultural Output (AAO) represented the dependent variable for the study while gross domestic product, interest rate, money supply, and exchange rate represented the explanatory variables. Ex-post factor research design was employed for the study. Augmented Dickey Fuller Unit Roots test and Ordinary Least Square (OLS) Regression techniques were used to analyze data collected. The empirical investigation showed that gross domestic product as well as money supply has a positive and significant effect on agricultural output, while interest rate and exchange rate exerted a negative and insignificant effect on agricultural output. From the study, selected macroeconomic variables have positive effect on agricultural output in Nigeria and this has tremendously contributed to the country's growth and development. The study recommends amongst other; that government should accelerate the rate of economic growth by investing heavily on the agricultural sector so as to boost domestic production and enhance exportation in order to stabilize exchange rate while curbing inflation; give incentives to banks extending agricultural loans by lowering the lending rate on agricultural loans to ease access to funds for agricultural investment.

Crude oil price, exchange rate and gross domestic product nexus in an emerging market: A cointegration analysis

2016 ◽  
Vol 40 (2) ◽  
pp. 212-231 ◽  
Author(s):  
Emmanuel Kwasi Mensah ◽  
Umberto Triacca ◽  
Eric Amoo Bondzie ◽  
Gabriel Obed Fosu
Keyword(s):  
Exchange Rate ◽  
Gross Domestic Product ◽  
Crude Oil ◽  
Emerging Market ◽  
Cointegration Analysis ◽  
Oil Price ◽  
Domestic Product ◽  
Crude Oil Price

scholarly journals Interest Rate Management and the Nigerian Economy (1986 — 2018)

2019 ◽  
pp. 1-15
Author(s):  
Kalu, Uko Kalu ◽  
Anyanwaokoro Mike
Keyword(s):  
Monetary Policy ◽  
Exchange Rate ◽  
Interest Rate ◽  
Gross Domestic Product ◽  
Money Supply ◽  
Significant Relationship ◽  
Domestic Product ◽  
Ex Post ◽  
The Impact ◽  
Bound Test

This study sought to examine the impact of interest rate on the Nigeria’s economy during the pre and post Regulation periods (1986 – 2013). It also investigated the joint influence of Inflation, Investment, Exchange Rate, Money Supply and Monetary Policy Rate individually on the Gross domestic Product which was used a proxy for output as well as the causality between all the factors combined and gross domestic product. Ex post facto method was adopted In order to test the hypothesis, the researcher adopted Augmented Dickey Fuller, ARDL, Bound Test and Error Correction Model. The result showed that no significant relationship exists between Gross Domestic Product and Investment, Exchange Rate and Money Supply while still affirming that a significant relationship exist between Gross Domestic Product, Monetary Policy Rate and inflation. The eye of the authorities should be on Inflation at all times, Prudent management of our Oil earnings, adequate savings (Foreign Reserve) and investments as these will help stabilize the fluctuating exchange rate  with its consequent influence on interest rate and economic growth.

scholarly journals THE INFLUENCE OF MACROECONOMIC VARIABLES TOWARD JAKARTA COMPOSITE INDEX ON INDONESIA STOCK EXCHANGE

2018 ◽  
Vol 14 (2) ◽  
Author(s):  
Rifqi Nur Wahyudi
Keyword(s):  
Regression Analysis ◽  
Exchange Rate ◽  
Gross Domestic Product ◽  
Money Supply ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Composite Index ◽  
Multiple Linear Regression Analysis ◽  
Domestic Product ◽  
Macroeconomic Variables

This study aimed to get empirical evidence macroeconomic variable : money supply, gross domestic product, inflation, BI Rate, exchange rate IDR/USD toward JCI. This research conducted by examine the data in the period January 2007 – December 2016. The research technique is using multiple linear regression analysis. The result showed that the Money Supply and GDP positive but not significant effect, inflation negative and not significant,BI Rate and exchange rate IDR / USD negative and significant effect on the Jakarta Composite Index. Keywords: Money Supply, Gross Domestic Product, Inflation, BI Rate, Exchange Rate IDR/USD, JCI

scholarly journals VECTOR AUTOREGRESSIVE APPROACH AFTER FIRST DIFFERENCING: A TIME SERIES ANALYSIS OF INFLATION AND ITS DETERMINANTS IN TANZANIA

2021 ◽  
pp. 43-56
Author(s):  
Rachel R. Cheti ◽  
Bahati Ilembo
Keyword(s):  
Time Series ◽  
Exchange Rate ◽  
Gross Domestic Product ◽  
Money Supply ◽  
Inflation Rate ◽  
Negative Impact ◽  
Causal Effect ◽  
Domestic Product ◽  
Series Data ◽  
Vector Autoregressive

The objective of the study was to examine the trend of inflation and its key determinants in Tanzania. We used secondary time series data observed annually from January 1970 to 2020 which are inflation rate, GDP, Exchange rate and money supply. The vector autoregressive (VAR) model was employed for modeling. Augmented Dickey-Fuller test (ADF) found that inflation rate, Gross Domestic Product (GDP), exchange rate and Money supply (M3) were initially non-stationary but they became stationary after first differencing so as to proceed with the analysis. Preliminary tests before obtaining vector auto regressive model were carried out before determining the relationship between the variables. Diagnostic test such as serial correlation, heteroscedasticity, stability and normality were also important to evaluate the model assumptions and investigate whether or not there are observations with a large, undue influence on the analysis. We used Granger causality test (GCT) to determine causal- effect relationship between the variables. The results show that, there is a long run relationship between the variables, also the results showed that exchange rate and money supply (M3) both have a positive impact on inflation rate while gross domestic product (GDP) revealed a negative impact on inflation rate. Finally, the forecast of inflation rate for 15 years ahead was performed. The study recommends that the government should pursue both contractionary monetary policy and fiscal policy in order to control inflation in the country.

scholarly journals Impact of inflation on economic growth: evidence from Nigeria

2020 ◽  
Vol 17 (2) ◽  
pp. 1-13 ◽  
Author(s):  
Anthony Olugbenga Adaramola ◽  
Oluwabunmi Dada
Keyword(s):  
Economic Growth ◽  
Exchange Rate ◽  
Interest Rate ◽  
Gross Domestic Product ◽  
Money Supply ◽  
Negative Impact ◽  
Domestic Product ◽  
Government Consumption ◽  
Consumption Expenditures ◽  
Distributed Lag

In an attempt to examine the influence of inflation on the growth prospects of the Nigerian economy, the study employs the autoregressive distributed lag on the selected variables, i.e. real gross domestic product (GDP), inflation rate, interest rate, exchange rate, degree of economy`s openness, money supply, and government consumption expenditures for the period 1980–2018. The study findings indicate that inflation and real exchange rate exert a significant negative impact on economic growth, while interest rate and money supply indicate a positive and significant impact on economic growth. Other variables in the model depict no influence on the economic growth of Nigeria. The causality result shows the unidirectional relationships between interest rate, exchange rate, government consumption expenditures and gross domestic product. However, inflation and the degree of openness show no causal relationship with gross domestic product. As a result, the study recommends that a more pragmatic effort is needed by the monetary authorities to target the inflation vigorously to prevent its adverse effect by ensuring a tolerable rate that would stimulate the economic growth of Nigeria.

scholarly journals The Nexus Between Monetary Policy and Economic Growth in Pakistan: Empirical Evidence Based on Bound Test Approach

2021 ◽  
Vol 4 (3) ◽  
pp. 613-624
Author(s):  
Mahmood Ul Hassan ◽  
Hina Ali ◽  
Saeed Ur Rahman ◽  
Sabiha Parveen
Keyword(s):  
Economic Growth ◽  
Exchange Rate ◽  
Gross Domestic Product ◽  
Money Supply ◽  
Price Index ◽  
Negative Impact ◽  
Consumer Price Index ◽  
Domestic Product ◽  
Series Data ◽  
Bound Test

The objective of this research is to examine the monetary policy's impact on economic growth. Variables of study are Gross domestic product, Inflation, rate of interest, Exchange rate, Money supply, Investment, and Consumer Price Index and time series data is collected from. Gross domestic product is a dependent variable and all other variables are independent and have a great effect on the explanatory variable. In this study, the Augmented dicky fuller test is used to check out the stationarity of our selected variables and after that autoregressive distributed lag model co-integration technique is applied to estimate the parameters of the model. The result shows that inflation, interest rate, and consumer price index show a negative impact on gross domestic product. While other variables such as exchange rate, money supply, and investment show a positive impact on GDP. The study recommended that the desired level of output and employment can be attained by adopting sufficient strategies that reduce inflation in the economy.

scholarly journals PENGARUH INDIKATOR MAKROEKONOMI TERHADAP TINGKAT INFLASI DI ASEAN-5

Media Ekonomi ◽  
2016 ◽  
Vol 24 (1) ◽  
pp. 17
Author(s):  
Annisa Yuliandari ◽  
Dini Hariyanti
Keyword(s):  
Exchange Rate ◽  
Panel Data ◽  
Interest Rate ◽  
Gross Domestic Product ◽  
Money Supply ◽  
Domestic Product ◽  
Methods Of Analysis ◽  
Data Result

<p><em>This research aims to analyze the factors that influence Inflation towards ASEAN 5 countries, i.e. Indonesia, Malaysia, Singapore, Thailand, and Philippines 2000-2014. This research is using methods of analysis panel data to determine the factors the influence the Inflation inflows in ASEAN-5. The factors that influence Inflation are Money Supply, Interest Rate, Exchange Rate, and Gross Domestic Product. Based on the analysis panel data result shows that Money Supply and Gross Domestic Product have the negative and significant impact to Inflation in ASEAN-5. Interest Rate has a negative and significant impact to Inflation in ASEAN-5. Exchange Rate has a positive and not significant impact to Inflation in ASEAN-5.  </em></p>

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