scholarly journals The Impact of Terrorist Attacks on Foreign Exchange Rate: Case Study of Turkish Lira versus Pound Sterling

Economies ◽  
2017 ◽  
Vol 5 (1) ◽  
pp. 5 ◽  
Author(s):  
Mansoor Maitah ◽  
Jehar Mustofa ◽  
Gok Ugur
Keyword(s):  
Exchange Rate ◽  
Foreign Exchange ◽  
Foreign Exchange Rate ◽  
Terrorist Attacks ◽  
The Impact ◽  
Turkish Lira ◽  
Rate Case

scholarly journals Impact of Foreign Exchange Rate and Inflation Rate on the Economic Growth of India

2019 ◽  
Vol 8 (4) ◽  
pp. 4333-4335
Keyword(s):  
Growth Rate ◽  
Exchange Rate ◽  
Foreign Exchange ◽  
Inflation Rate ◽  
Linear Regression Analysis ◽  
Foreign Exchange Rate ◽  
Gdp Growth ◽  
Economic Progress ◽  
Gdp Growth Rate ◽  
The Impact

This paper tries to investigate the impact of foreign exchange rate and inflation rate on the economic progress of India. In this study the economic progress has been measured by annual GDP ( Gross Domestic Product ) growth in India. Correlation analysis and multiple regression model have been designed to explore the relationship among the mentioned three variables. The annual GDP growth of India has been considered as the dependent variable and the other two macroeconomic variables ( Foreign exchange rate and inflation rate ) have been considered as the independent variables. Secondary sources of data have been gathered to arrive at a logical conclusion. The results show a positive correlation between GDP growth rate and the foreign exchange rate and a negative correlation between the GDP growth rate and the inflation rate. Results from the linear regression analysis show that inflation rate has a strong influence or impact on the GDP growth rate than the foreign exchange rate. It is expected that the present study will help the policy makers and the researchers to understand the impact of foreign exchange rate and inflation rate on the GDP growth in India

IMPACT OF FOREIGN TRADE ON ECONOMIC GROWTH IN NIGERIA

2021 ◽  
Vol 9 (1) ◽  
pp. 20-35
Author(s):  
Esiaka Chuka ◽  
◽  
Uwaleke Uche ◽  
Nwala Nneka ◽  
◽  
...  
Keyword(s):  
Economic Growth ◽  
Exchange Rate ◽  
Foreign Trade ◽  
Foreign Exchange ◽  
Secondary Data ◽  
Foreign Exchange Rate ◽  
Distributed Lag ◽  
Oil Revenue ◽  
Ex Post ◽  
The Impact

This study investigated the impact of foreign trade on the economic growth of Nigeria for the period 1981–2018. Economists hold two contrasting opinions on the effect of foreign trade on a nation’s economy. While the positive-sum game school of thought holds the view that, when nations engage in foreign trade, there are bound to be mutual gains as each country’s utility is expanded, the negative-sum game school of thought holds the view that trade relations amongst nations of the world benefit one economy at the expense of the other. This study was embarked upon to ascertain which of these two conflicting opinions applies to Nigeria. Accordingly, the objective of the study was to determine the impact of foreign trade proxy by oil revenue, non-oil revenue, and foreign exchange rate on Nigeria’s economic growth proxy by gross domestic product growth rate. The study adopted the ex post facto research design and secondary data were obtained from the Central Bank of Nigeria Statistical Bulletin. The study employed the Autoregressive Distributed Lag Model to evaluate the effect of foreign trade on economic growth in Nigeria. Findings suggest that oil revenue, non-oil revenue, and foreign exchange rate have a significant impact on economic growth in Nigeria. The study recommended that Nigeria’s oil revenue be heavily invested in non-oil revenue-earning productive sectors such as agriculture and mining to create the desired multiplier effect on the economy.

scholarly journals The Impact of Terrorist Attacks on Foreign Exchange Rate: Case Study of Turkish Lira versus Pound Sterling

2016 ◽  
Author(s):  
Mansoor Maitha ◽  
Jehar Mustofa ◽  
Ugur Gok
Keyword(s):  
Exchange Rate ◽  
Negative Impact ◽  
Causal Effect ◽  
Terrorist Attack ◽  
Terrorist Attacks ◽  
Long Run ◽  
Short Run ◽  
The Exchange Rate ◽  
The Impact ◽  
Turkish Lira

In this study the impact of terrorist attacks on exchange rate is estimated. Particularly, the study focuses on Turkish terrorist attacks and its implication on Turkish lira versus pound sterling exchange rate. In order, to find the causal effect the study employed Autoregressive distributive lag (ARDL) bound testing approach as an estimation technique. Accordingly, the analysis reveals that terrorist attack has a negative impact on the exchange rate in both short and long-run. However, the negative effect of terrorism tends to be small in both the short-run and long-run. More precisely, terrorist attack depreciates the exchange rate between Turkish lira and pound sterling by approximately 0.00072 in the next trading day. The long-term effect also shows that terrorist attack depreciates the exchange rate on average by 0.00212.

scholarly journals Monetary Policy vs. Foreign Exchange Rate: A Statistical Analysis

2011 ◽  
Vol 5 (11) ◽  
Author(s):  
Tyler T. Yu ◽  
Miranda M. Zhang
Keyword(s):  
Monetary Policy ◽  
Exchange Rate ◽  
Money Supply ◽  
Foreign Exchange ◽  
Hypothesis Test ◽  
Time Lag ◽  
Correlation Coefficients ◽  
Foreign Exchange Rate ◽  
Exchange Rate Movements ◽  
The Impact

The purpose of this paper is to examine the economic impact of the Feds rate cuts on foreign exchange movements. Using secondary data, the paper estimates the lagged effects of the changes in money supply due to the rate cuts on the foreign exchange rates between the US dollar and the Japanese Yen ($/), British Pounds ($/), and the euro ($/), respectively. Since the impact of monetary policy tends to have a time lag, as suggested by Hall and Taylor, the study segments the measurements in six months intervals (6 months form the cut, 12 months from the cut, 18 months from the cut and 24 months from the cut). The relationship between the changes in money supply and potential impact on foreign exchange rate movements will be investigated using the Pearson Product-Moment Correlation coefficients (PPMCC) as well as Spearmans Rank Correlation coefficients (SRCC, the nonparametric alternative to the PPMCC). Then, a hypothesis test will be conducted to determine whether the correlation between the Federal Reserves stimulating monetary policy and foreign exchange rate movements is significant.

VOLATILITY OF CRUDE OIL PRICES, FOREIGN EXCHANGE EXPOSURES, AND COMPANY’S PERFORMANCE: EMPIRICAL EVIDENCE FROM TAIWANESE 3PL INDUSTRY

2018 ◽  
Vol 6 (1) ◽  
pp. 53-60
Author(s):  
Hsiao Chiu-Ming ◽  
Chen Chih-Hung ◽  
Lin Chun-Hsuan ◽  
Fang Bo-Wei ◽  
Tang Yen-Ju ◽  
...  
Keyword(s):  
Exchange Rate ◽  
Crude Oil ◽  
Stock Returns ◽  
Foreign Exchange ◽  
Negative Impact ◽  
Oil Prices ◽  
Foreign Exchange Rate ◽  
Firm Level ◽  
Crude Oil Prices ◽  
The Impact

Purpose of the study: In this paper, we investigate the impact of the changes in crude oil prices and fluctuation of foreign exchange rate on the operating performances of Taiwanese 3PL industry.Methodology: Vector Autoregression Models. Through the empirical model, we find that all the 3PL companies are more suffered to the volatility of WTI and Dubai crude oil prices, but Dubai is insignificant to the warehousing companies. In the fluctuations of foreign exchange rate, some have positive effect and some are negative.Main Findings: All the Taiwanese 3PL companies are more suffered to the volatility of WTI and Dubai crude oil prices, however Dubai is insignificant to the warehousing companies. Moreover, we find an interesting result, that is, for some companies operating performance, the impact on the volatilities of crude oil have the same sign but in opposite direction. For example, in our empirical results, the stock returns are positively correlated to volatilities of Dubai and Brent crude oil prices, however, WTI’s volatility has negative impact on them.Implications: It implies that the company can make a “natural hedge” strategy to hedge the crude oil volatility risk by forming a portfolio which pools these three commodities together. In this way, we made recommendations to the company’s decision-making reminding that the company should make a portfolio of foreign exchange and crude oil price fluctuations in the hedge strategy to enhance the company’s risk management operations and to reduce the loss caused by these factors.Novelty/Originality of this study: This study contributes in the existing literature for an empirically study of a firm-level evidence from Taiwanese 3PL companies.

scholarly journals An Analysis on Impact of Exchange Rate on Nifty and S & P Sensex

2019 ◽  
Vol 8 (9S3) ◽  
pp. 65-73
Keyword(s):  
Decision Making ◽  
Exchange Rate ◽  
Stock Market ◽  
Foreign Exchange ◽  
Technical Analysis ◽  
Foreign Exchange Rate ◽  
Exchange Rate Markets ◽  
The Impact

In the last two decades, the developments happened in India have led to an interdependency between the stock market and exchange rate markets. The present study focuses on understanding the impact of the foreign exchange rate and the stock market interdependency. The indices NIFTY and SENSEX define major movements in the stock market hence they gain importance in studying. Also, the technical analysis has been done for the Indices to study the performance of stock. The results obtained from the study will facilitate the decision making of the investors

scholarly journals Evaluating the Impact Of Foreign Exchange Rate Risk On The Capital Budgeting For Multinational Firms

2011 ◽  
Vol 7 (8) ◽  
Author(s):  
Carl B. McGowan, Jr.
Keyword(s):  
Exchange Rate ◽  
Risk Analysis ◽  
Foreign Exchange ◽  
Financial Management ◽  
Small Firms ◽  
Capital Budgeting ◽  
Foreign Exchange Rate ◽  
Theory And Practice ◽  
Large Firms ◽  
The Impact

Capital budgeting analysis has evolved to the point where large firms universally use sophisticated capital budgeting techniques.[1] However, small firms are less likely to use sophisticated capital budgeting techniques.[2] Even large firms do not generally use simulation for risk analysis in multinational project capital budgeting analysis.[3] This paper provides a discussion and example of the use of simulation in evaluating the impact of foreign exchange rate volatility on multinational project capital budgeting analysis.[1] Bierman, Harold, Jr. Capital Budgeting in 1991: A Survey, Financial Management, Autumn 1993, pp. 21-29.[2] See, for example, Block, Stanley. Integrating Traditional Capital Budgeting Concepts into an International Decision-Making Environment, The Engineering Economist, 45(4), 2000, pp. 309-325 or Graham, John R. and Campbell R. Harvey. The Theory and Practice of Corporate Finance: Evidence from the Field, Journal of Financial Economics, 60, 2001, pp. 187-243.[3] See, for example, Farragher, Edward, Robert Kleiman, and Anandi, Sahu. The Association Between the Use of Sophisticated Capital Budgeting Practices and Corporate Performance, The Engineering Economist, 46(4), 2001, pp. 300-31, Ho, Simon S. M. and Richard H. Pike. Risk Analysis in Capital Budgeting Contexts: Simple or Sophisticated?, Accounting and Business Research, 21(83), 1991, pp. 227-238, Klammer, T. Empirical Evidence of the Adoption of Sophisticated Capital Budgeting Techniques, The Journal of Business, July 1972, pp. 387-397, and Klammer, T., B. Koch, and N. Wilner. Post-auditing Capital Assets and Firm Performance: An Empirical Investigation, Managerial and Decisions Economics, (12), 1991, pp. 317-327.

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