scholarly journals Do the Monetary Policy Makers Follow Rules? Testing Taylor’s Rule for Nepal

2019 ◽  
Vol 42 (1-2) ◽  
pp. 34-42
Author(s):  
Khagendra Katuwal
Keyword(s):  
Interest Rate ◽  
Central Bank ◽  
Time Series Data ◽  
Consumer Price Index ◽  
Least Square Method ◽  
Least Square ◽  
Series Data ◽  
Output Gap ◽  
Treasury Bills ◽  
Augmented Dickey Fuller

The study estimates Taylor’s rule for Nepal by using the annual time series data for the period of 1988-2018. As a requirement of Taylor's rule, the output gap has been estimated by using Hodric-Perscott filter. Consumer price index has been used as measure of inflation and 91-days treasury bills rate is taken as the proxy for the short-term interest rate set by central bank of Nepal. The ordinary least square method has been used to estimate the Taylor's equation The results show that. As Augmented Dickey-Fuller test shows that all  the variables used in this study are in level form. The results show that there is a positive relationship of T-bills rule with inflation output gap. Interest rate smoothing is found to be a major concern of central bank of Nepal but follows the Taylor’s rule partially.

scholarly journals Analisis pengaruh keadaan ekonomi makro terhadap investasi Asuransi Jiwa Syariah di Indonesia tahun 2010 – 2019

2020 ◽  
pp. 37-53
Author(s):  
Khalish Khairina
Keyword(s):  
Exchange Rate ◽  
Interest Rate ◽  
Significant Influence ◽  
Life Insurance ◽  
Time Series Data ◽  
Composite Index ◽  
T Test ◽  
Least Square ◽  
Series Data ◽  
Independent Variables

This study aims to analyze the effect of Inflation, Exchange Rate, BI Interest Rate, Indonesia Composite Index on Sharia Insurance Life in Indonesia.  Data used is time series data for 10 years (2010-2019) and analyzed by using Eviews 10. This research using quantitative descriptive method, and to analyze the effect of independent variables toward dependent variables using Ordinary Least Square technique. The result of t – test shows Inflation, Exchange Rate, Indonesia Composite Index have significant influence to Sharia Life Insurance Investment in Indonesia that t –test < 0,05 and Interest Rate doesn’t influence to Sharia Life Insurance Investment in Indonesia with t – test > 0,05. However, independent variables has a significant influence with the result of F test 0,000002 < 0,05 and Adjusted R-Squared test shows that 99,41 %  of Sharia Life Insurance Investment in Indonesia is influenced by independent variables in this research

scholarly journals Effect of Interest Rate on Stock Prices in Ghana

2021 ◽  
Vol 12 (1(S)) ◽  
pp. 1-7
Author(s):  
Peter Arhenful ◽  
Augustine Kwadwo Yeboah ◽  
Kofi Sarfo Adjei
Keyword(s):  
Interest Rate ◽  
Interest Rates ◽  
Stock Prices ◽  
Time Series Data ◽  
Stock Exchange ◽  
Ordinary Least Squares ◽  
Series Data ◽  
Augmented Dickey Fuller ◽  
Ghana Stock Exchange ◽  
Adf Test

The paper assesses the effect of interest rate on stock prices, with emphases on Ghana Stock Exchange; using monthly time series data from July 2007 to December 2019. The Augmented Dickey-Fuller (ADF) test was employed to establish the stationarity properties of the data or otherwise. Using the Ordinary Least Squares (OLS) estimation technique of Multiple Regression, the results (? = – 0.891, p < 0.05) revealed an indirect association between interest rates and stock prices in the Ghanaian context; which is consistent with the theoretical conclusion that an increase in interest rate results in a decrease in stock prices. Thus, in the light of this finding, it was recommended that policymakers should consider the stock market dynamics due to the significant relationship that exists between the two macroeconomic variables.

scholarly journals Deposit Money Bank Policy and Private Sector Funding: A Multi-Dimensional Study from Nigeria

2020 ◽  
Vol 4 (1) ◽  
pp. 18-35
Author(s):  
Zaagha Alexander Sulaiman ◽  
Murray Monday Ebike
Keyword(s):  
Rural Communities ◽  
Private Sector ◽  
Time Series Data ◽  
Least Square ◽  
Series Data ◽  
Vector Error Correction ◽  
Medium Scale ◽  
Integration Test ◽  
Augmented Dickey Fuller ◽  
Causality Tests

This study empirically examined the effect of deposit money banks policy on private sector funding in Nigeria. Time series data was sourced from Central Bank of Nigeria Statistical Bulletin from 1985-2018. Credit to private sector, credit to core private sector and credit to small and medium scale enterprises was used as dependent variables while liquidity ratio and loan to deposit ratio was used as independent variables. Ordinary Least Square (OLS), Augmented Dickey Fuller Test, Johansen Co-integration test, normalized co-integrating equations, parsimonious vector error correction model and pair-wise causality tests were used to conduct the investigations and analysis. The empirical findings revealed that deposit money banks policy explains 40.8 percent variation on credit to core private sector, 28.1 percent and 58.9 percent of the variation in credit to core private sector and credit to small and medium scale enterprises sector.  The study conclude that deposit money banks policy has no significant relationship with credit to private sector and credit to core private sector but has significant relation with credit to small and medium scale enterprises sector. From the findings, the study recommends compliance to deposit money banks policies; this will enhance effective financial intermediation and increase funding of the private sector. There is also need for the regulatory authorities to harmonize the various deposit money banks policies with the objective of enhancing private sector funding. There is need to decentralize the operation of the deposit money banks in the urban cities. Policies should be formulated to extend the operation of the deposit money banks to the rural communities, this will enable the institutions to mobilize much deposit and increase credit to the private sector.

scholarly journals PENGARUH PERTUMBUHAN EKONOMI TERHADAP KESEMPATAN KERJA DI PROVINSI SULAWESI TENGGARA

2018 ◽  
Vol 6 (2) ◽  
pp. 54
Author(s):  
Muhammad Nur Afiat
Keyword(s):  
Economic Growth ◽  
Quantitative Research ◽  
Time Series Data ◽  
Linear Regression Analysis ◽  
Secondary Data ◽  
Least Square Method ◽  
Multiple Linear Regression Analysis ◽  
Least Square ◽  
Series Data ◽  
Employment Opportunities

This study was conducted with the aim to determine the effect of Economic Growth Rate on Employment Opportunities in Southeast Sulawesi Province 2000-2015. This research is a type of Quantitative research using secondary data in the form of time series data, ie from 2000-2015. Data source was obtained from Central Bureau of Statistics (BPS) and Bank Indonesia of Southeast Sulawesi Province. This study also uses multiple linear regression analysis tools with ordinary least square method (OLS) and then processed with application Eviews 8.0. The results of the study show that Economic Growth has a significant influence on Employment Opportunities in Southeast Sulawesi Province 2000-2015.

scholarly journals FAKTOR-FAKTOR YANG MEMPENGARUHI VOLUME EKSPOR UDANG PUTIH (PENAEUS INDICUS) INDONESIA KE HONGKONG SERTA IMPLIKASI KEBIJAKANNYA

2018 ◽  
Vol 5 (1) ◽  
pp. 1-24
Author(s):  
Betrix Silitonga ◽  
Manuntun Parulian Hutagaol
Keyword(s):  
Time Series ◽  
Time Series Data ◽  
Least Square Method ◽  
Least Square ◽  
Nominal Exchange Rate ◽  
White Shrimp ◽  
Series Data ◽  
Selling Price ◽  
Ordinary Least Square ◽  
Penaeus Indicus

This study aimed to analyze the factors that affect the volume of Indonesian exports of white shrimp (Penaeus indicus) to Hongkong and to formulate policies that can increase the volume of exports. Ordinary Least Square method (OLS) is used to analyze the factors that affect the volume of Indonesian white shrimp exports to Hongkong by time series data (time series) period of the last 24 years (1990 until 2013). All independent variables that have significant influence on the volume of Indonesian exports of white shrimp, which are: Hongkong population, Hongkong GDP per capita constant 2005, the nominal selling price of white shrimp Indonesia to Hongkong, the nominal selling price of white shrimp competitor to Hongkong, the nominal exchange rate of the Indonesian to Hongkong and Indonesian economic crisis in 1998 (dummy). Key words: Hongkong, Ordinary Least Square (OLS), the export volume, the white shrimp (Penaeus indicus)

scholarly journals Impact of Interest Rate on Household Consumption in Tanzania

2021 ◽  
pp. 44-62
Author(s):  
Daud Mkali Fadhil ◽  
Naifin A. Rajab
Keyword(s):  
Interest Rate ◽  
Causal Relationship ◽  
Granger Causality ◽  
Time Series Data ◽  
Negative Relationship ◽  
Granger Causality Test ◽  
Household Consumption ◽  
Least Square ◽  
Series Data ◽  
Causality Test

This study seeks to determine the exact impact of interest rate on household consumption in Tanzania and identify the direction of causality between the variables. Although there have been few studies which explore the issue of interest rate and consumption, their method, time scope and geographical location has been different. This study aim to examine the relationship between interest rate on deposit and household expenditure in Tanzania using the annual time series data from the period 1990–2017 and employing Dynamic Ordinary Least Square (DOLS) and Granger causality test for testing causal relationship between  the variables. The result revealed that there is a negative relationship between interest rate on deposit and consumption for the Tanzania. Additionally, it is observed from the estimate results that interest rate had an insignificant effect on consumption. Furthermore, the granger causality test results have shown that there is bidirectional causal relationship between interest rate and consumption. Furthermore, the result also shows that income and consumption are positively related and statistical significant at 5%. In addition, the findings supported Keynesian's Absolute Income hypothesis which emphasis consumption being a positive function of disposable income. The study recommends that there is the need for government to take urgent steps to implement policies like poverty reduction strategies, agriculture policy and Five Years Development Plans in order to improve the income base of most of households.

Money Supply and Private Sector Funding in Nigeria: A Multi-Variant Study

2020 ◽  
Vol 4 (1) ◽  
pp. 24-41
Author(s):  
Zaagha Alexander Sulaiman
Keyword(s):  
Private Sector ◽  
Central Bank ◽  
Interest Rates ◽  
Money Supply ◽  
Time Series Data ◽  
Least Square ◽  
Series Data ◽  
Medium Scale ◽  
Integration Test ◽  
Causality Tests

This study examined the effect of money supply on private sector funding in Nigeria. The purpose of the study was to examine the extent to which monetary policy affect private sector funding in Nigeria. Time series data was sourced from Central Bank of Nigeria Statistical Bulletin from 1985-2018. Credit to private sector, credit to core private sector and credit to small and medium scale enterprises sector was used as dependent variables while narrow money supply, broad money supply, large money supply, private sector demand deposit was used as independent variables. Ordinary Least Square (OLS), Augmented Dickey Fuller Test, Johansen Co-integration test, normalized co-integrating equations, parsimonious vector error correction model and pair-wise causality tests were used to conduct the investigations and analysis. The empirical findings revealed that money supply explains 82.1 percent variation on credit to core private sector, 85.2 percent and 23.4 percent of the variation in credit to private sector and credit to small and medium scale enterprises sector. The study conclude that money supply has significant relationship with credit to private sector, credit to core private sector and credit to small and medium scale enterprises sector. From the findings, the study recommends that Central Bank of Nigeria should induce the variations of the amount of money changes through the nominal interest rates. That the monetary authorities should ensure adequate quantity of money supply that positively affect private sector funding in Nigeria.

scholarly journals Assessment of the Determinants of Balance of Payment in Tanzania

2021 ◽  
Vol 4 (1) ◽  
pp. 62-75
Author(s):  
Magreth Exuper Kingia ◽  
Seif Muba
Keyword(s):  
Interest Rate ◽  
Interest Rates ◽  
Diagnostic Tests ◽  
Time Series Data ◽  
Unit Root Test ◽  
Negative Influence ◽  
Least Square ◽  
Series Data ◽  
Ordinary Least Square Regression ◽  
The Interest Rate

The purpose of the study was to assess the determinants of the balance of payment in Tanzania. The nature of this study was quantitative where secondary time series data covering a period of thirty-one years between 1990 and 2020 were collected. The study performed descriptive statistics and diagnostic tests such as normality test, unit root test for stationarity, Pearson’s Correlation matrix to check if there is a multicollinearity problem in the data. The diagnostic tests revealed that the data bring unbiased results, therefore the ordinary least square regression was performed and we found that foreign direct investment and inflation rate have a negative and significant influence on the balance of payment, whereas exchange rate has a positive and insignificant influence on the balance of payment, and the interest rate has an insignificant negative influence on the balance of payment. Finally, we recommend that a country have to introduce relative prices of imports in order to improve the inflows of FDI in order to have a favourable balance of payment in a country like Tanzania. Also, Tanzania's central bank must be cautious in its monetary policy and take some beneficial steps to regulate the money supply. To attract the new internal investor, it must keep an eye on interest rates and charge a low-interest rate.

scholarly journals PENGARUH NISBAH BAGI HASIL, PRODUK DOMESTIK BRUTO, SUKU BUNGA DEPOSITO DAN INFLASI TERHADAP SIMPANAN MUDHARABAH DI PERBANKAN SYARIAH INDONESIA PERIODE 2004.1­2009.2

Media Ekonomi ◽  
2017 ◽  
Vol 18 (1) ◽  
Author(s):  
Nurjanah Nurjanah ◽  
Sumiyarti Sumiyarti
Keyword(s):  
Interest Rate ◽  
Gross Domestic Product ◽  
Time Series Data ◽  
Profit Sharing ◽  
Least Square ◽  
The Other ◽  
Domestic Product ◽  
Series Data ◽  
Main Determinant ◽  
Ordinary Least Square

<span><span><em>This study focused on examination impact of Profit Sharing Ratio (NSM) to Mudharabah</em><br /><span><em>savings in Indonesia Syariah Bank. The model used in this study is the Multiple Linear</em><br /><span><em>Regression OLS methods (Ordinary Least Square) with the time series data in period</em><br /><span><em>2004.1-2009.2. But in this model, we also considerd Gross Domestic Product (PDB), Deposit</em><br /><span><em>Interest Rate (RSK), and Inflation (INF) as control variables. The results of the research</em><br /><span><em>are variables of Profit Sharing Ratio (NSM), Deposit Interest Rate (RSK) and Inflation</em><br /><span><em>(INF) are affected not statistically affected Mudharabah Savings. The other side, the</em><br /><span><em>variable of Gross Domestic Product (GDP) statistically affects Mudharabah Savings. The</em><br /><span><em>interest of people on Mudharabah Savings is not because of the Profit Sharing Ratio that</em><br /><span><em>become the main determinant in Mudharabah Saving but of the more Islamic System.</em></span></span></span></span></span></span></span></span></span><br /></span></span>

scholarly journals ANALISIS HUMAN CAPITAL TERHADAP PERTUMBUHAN EKONOMI INDONESIA PERIODE 2001 - 2017

OPTIMA ◽  
2019 ◽  
Vol 3 (1) ◽  
Author(s):  
Jojo Jojo ◽  
Abel Gandhy ◽  
Endang Sari Simanullang ◽  
Ana Frasipa
Keyword(s):  
Unemployment Rate ◽  
Time Series Data ◽  
Secondary Data ◽  
Least Square Method ◽  
Least Square ◽  
Series Data ◽  
Gdp Growth ◽  
Literacy Rate ◽  
Education And Health ◽  
Indonesian Population

The objective of the present study is to analyze the influence of Government Expenditure on Education and Health, Unemployment Rate, Literacy Rate, to GDP Growth of Indonesian Population. This type of research is quantitative, using ordinary least square method (OLS). The data used are secondary data. Data type is yearly time series data between 2001-2017 period. The results of the study indicate that (1) Government Expenditures for Education and Health have positive and significant impact on the GDP growth of Indonesian Population (2) Unemployment rate has a negative and significant effect on the GDP growth of Indonesian Population (3) Literacy rate positively and significantly to GDP Growth Population Indonesia

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