Assessment of the Determinants of Balance of Payment in Tanzania

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.

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Interest Rate Liberalization and Credit to Private Sector in Nigeria: ARDL-Cointegration Approach

International Finance and Banking ◽

10.5296/ifb.v6i1.14883 ◽

2019 ◽

Vol 6 (1) ◽

pp. 40

Author(s):

Peter Ego Ayunku

Keyword(s):

Interest Rate ◽

Private Sector ◽

Goodness Of Fit ◽

Time Series Data ◽

Unit Root Test ◽

Negative Influence ◽

Coefficient Of Determination ◽

Series Data ◽

Interest Rate Liberalization ◽

Percent Increase

This study examined the relationship between interest rate liberalization and credit to private sector in Nigeria, using annual time series data spanning from 1986 to 2016. The study employed ARDL (p,q) model as suggested by Pesaran and Shin (1997) to analyzed the data. The study commenced with the Augmented Dickey Fuller (ADF) unit root test and the results reveal that all the variables were integrated at order I (1). While the result of the estimated coefficient reveals that interest rate with the first lag was positive and statistically insignificant. And that a percent increase will lead to a 0.087 percent increase in the dependent variable (interest rate). In the same vain Inflation rate has a negative influence on interest rate and was not statistically significant. A percentage change in inflation will lead to 0.08 percent decrease in interest rate.The coefficient of determination (R2 = 0.78) of the estimated model ARDL(1,2,4,1) shows that about 78 percent of the systematic variation in interest rate(INT) is totally explained and well accounted for by the independent variables. This implies that the ARDL (1, 2, 4, 1) model is of goodness of fit and is quite adequate. Base on the findings the study recommends amongst others that monetary authority should pursue interest rate liberalization policies so as to enhance credit to private sector growth that would further engender economic growth and development in Nigeria.

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Analisis Kekakuan dan Faktor-faktor yang Memengaruhi Tingkat Suku Bunga Perbankan di Indonesia

Jurnal Kebijakan Ekonomi ◽

10.21002/jke.v8i2.26 ◽

2013 ◽

Vol 8 (2) ◽

pp. 26

Author(s):

Eko Listiyanto ◽

Telisa Aulia Falianty

Keyword(s):

Time Series ◽

Interest Rate ◽

Interest Rates ◽

Error Correction ◽

Time Series Data ◽

Error Correction Model ◽

Least Square ◽

Capital Adequacy ◽

Series Data ◽

Correction Model

ABSTRACTThe research discusses the rigidity of interest rates on deposits and loans to changes in interest rate policies in the three groups of banks in Indonesia, and the factors that influence the interest rates on deposits and loans in the banking system. Rigidity of bank interest rates were analyzed with error correction model approach (Error Correction Model / ECM) using panel data. While the factors that influence the development of the banking interest rates were analyzed with multiple linear regression approach method of Generalized Least Square (GLS) using time series data. The period of data used from July 2005-March 2010.Error Correction Model shows the slackness of interest rates response on deposits and loans toward the policy of interest rate. The rigidity of interest rates on deposits and loans in Indonesia is relatively slow when compared to some other countries.Regression results with GLS method proves that the banking efficiency factor, bad credit and market share significantly influence the interest rates on deposits. While the borrowing rate is influenced by the rate of inflation, capital adequacy ratio, as well as bad credit. The results of this study suggest the importance of watching bad credit factors in making monetary policy because it can affect the interest rates on deposits and lending interest rates. ABSTRAKPenelitian ini membahas kekakuan suku bunga deposito dan pinjaman untuk perubahan kebijakan suku bunga dalam tiga kelompok bank di Indonesia, dan faktor-faktor yang mempengaruhi suku bunga deposito dan pinjaman dalam sistem perbankan. Kekakuan suku bunga perbankan dianalisis dengan pendekatan error correction model (Error Correction Model / ECM) menggunakan data panel. Sedangkan faktor-faktor yang mempengaruhi perkembangan suku bunga perbankan dianalisis dengan metode pendekatan regresi linier berganda dari Generalized Least Square (GLS) dengan menggunakan data time series. Periode data yang digunakan dari Juli 2005-Maret 2010.Error Correction Model menunjukkan kelambanan dari suku bunga respon deposito dan pinjaman terhadap kebijakan tingkat suku bunga. Kekakuan suku bunga deposito dan pinjaman di Indonesia relatif lambat jika dibandingkan dengan beberapa negara lain.Hasil regresi dengan metode GLS membuktikan bahwa faktor efisiensi perbankan, kredit macet dan pangsa pasar secara signifikan mempengaruhi suku bunga deposito. Sementara tingkat pinjaman dipengaruhi oleh tingkat inflasi, rasio kecukupan modal, serta kredit macet. Hasil penelitian ini menunjukkan pentingnya menonton faktor kredit macet dalam membuat kebijakan moneter karena dapat mempengaruhi suku bunga deposito dan suku bunga kredit.

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Determinasi Tingkat Suku Bunga Perbankan di Indonesia

e-Journal Ekonomi Bisnis dan Akuntansi ◽

10.19184/ejeba.v4i1.4749 ◽

2017 ◽

Vol 4 (1) ◽

pp. 122

Author(s):

Arief Hadi Putra ◽

Siswoyo Hari Santosa ◽

Regina Niken Wilantari

Keyword(s):

Exchange Rate ◽

Interest Rate ◽

Interest Rates ◽

Time Series Data ◽

Trigger Factor ◽

Series Data ◽

Monthly Data ◽

Negative Effect ◽

The Exchange Rate ◽

The Interest Rate

The interest rate has an important role to regulate the exchange rate affecting an economy and banking transactions betweencountries.The interest rate as a trigger factor of development of a country has a very important role to cope with the level ofinflation and the exchange rate in the country. In this study, several factors are considered to influence the interest ratesinclude inflation, and exchange rates. The method used is multiple linear regression with time series data. The study wasconducted using monthly data from July 2005 until December 2012. The results of the regression carried out showed thatindlasi positive and significant impact on interest rates. While the exchange rate and no significant negative effect on interestrates.

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Pengaruh Pendapatan , Jumlah Nasabah Dan Tingkat Suku Bunga Terhadap Penyaluran Kredit Pt Pegadaian Cabang Kabupaten Jember Periode 2013 -2017

RELASI JURNAL EKONOMI ◽

10.31967/relasi.v15i1.306 ◽

2019 ◽

Vol 15 (1) ◽

pp. 151-174

Keyword(s):

Time Series ◽

Regression Analysis ◽

Interest Rate ◽

Interest Rates ◽

Time Series Data ◽

Computer Software ◽

Secondary Data ◽

Series Data ◽

The Interest Rate ◽

Number Of Customers

The research objective was to analyze the large number, number of customers, and interest rates on the loan distribution of PT Pegadaian Branch of Jember Regency.The type of data used in this study is secondary data consisting of time series data on income, number of customers obtained through the pawnshop office which is the object of research and interest rates for the period 2013-2017 obtained from BI which is the object of the research. The data is processed using computer software "SPSS 22" with multiple regression analysis methods. The Pawnshop Branch of Kabupaten Jember is very positive and significant towards lending to PT Pegadaian Branch of Kabupaten Jember, while the Interest Rate does not significantly influence the lending of PT Pegadaian Branch of Kabupaten Jember. Together, it focuses positively and significantly on the loan distribution of PT Pegadaian Branch of Jember Regency

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Islamic Finance and Economic Growth Nexus: An Econometric Analysis

Review of Education, Administration & LAW ◽

10.47067/real.v2i1.7 ◽

2019 ◽

Vol 2 (1) ◽

pp. 11-22

Author(s):

Kashif Raza ◽

Rashid Ahmad ◽

Muhammad Abdul Rehman Shah ◽

Muhammad Umar

Keyword(s):

Economic Growth ◽

Time Series Data ◽

Trade Openness ◽

Unit Root Test ◽

Least Square ◽

Series Data ◽

Islamic Finance ◽

Causality Test ◽

Economic Agents ◽

Fixed Capital Formation

Researchers have written chain of research papers about the dynamics of financial development and economic growth. The financial capital plays a productive role when it delivers to economic agents who are facing shortage or excess of funds. This study explores the linkages among Islamic financing and economic growth for Pakistan, by using annual time series data from 2005-2018. Islamic banks’ financing funds used as a proxy of Islamic financing, Gross Domestic Product (GDP), Gross Fixed Capital Formation (GFCF), labor force (LF),Broad money(M) and Trade openness (TO) to presents real sector of an economy. For the exploration, the unit root test, Ordinary least square technique and Granger causality test are applied. The results validate a substantial causal relationship of Islamic financing and GDP, which supports the Schumpeter’s supply-leading view. The results indicate that Islamic finance contributed towards economic growth.

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The Impact of Macroeconomic Variables on Sectoral Indices in Indonesia

ETIKONOMI ◽

10.15408/etk.v16i1.4323 ◽

2017 ◽

Vol 16 (1) ◽

pp. 71-80 ◽

Cited By ~ 2

Author(s):

Bambang Sutrisno

Keyword(s):

Exchange Rate ◽

Interest Rate ◽

Inflation Rate ◽

Emerging Market ◽

Estimation Method ◽

Least Square ◽

Series Data ◽

Macroeconomic Variables ◽

The Interest Rate ◽

The Impact

This study aims to examine the effect of macroeconomic variables on sectoral indices in the Indonesian Stock Exchange. The difference in sensitiveness among sectors is an interesting issue to investigate this relationship in an emerging market, such as Indonesia. This study employs ordinary least square (OLS) as an estimation method with monthly time-series data from January 2005 to December 2014. The results document that the interest rate, inflation rate, and exchange rate simultaneously have a significant effect on sectoral indices in Indonesia. The interest rate partially shows a significant negative influence on all sectors except basic industry and chemical, finance, infrastructure, utilities, and transportation, and miscellaneous industry sectors. The inflation rate partially has no significant effect on all sectors. The exchange rate partially has a significant negative impact on all industries.DOI: 10.15408/etk.v16i1.4323

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A Study on Estimation and Prediction of Vector Time Series Model Using Financial Big Data (Interest Rates)

Turkish Journal of Computer and Mathematics Education (TURCOMAT) ◽

10.17762/turcomat.v12i5.951 ◽

2021 ◽

Vol 12 (5) ◽

pp. 309-316

Author(s):

Jae-Hyun Kim, Chang-Ho An

Keyword(s):

Time Series ◽

Interest Rate ◽

Prediction Model ◽

Interest Rates ◽

Time Series Data ◽

Information Criteria ◽

Series Data ◽

Call Rate ◽

Causality Test ◽

Vector Autoregressive

Due to the global economic downturn, the Korean economy continues to slump. Hereupon the Bank of Korea implemented a monetary policy of cutting the base rate to actively respond to the economic slowdown and low prices. Economists have been trying to predict and analyze interest rate hikes and cuts. Therefore, in this study, a prediction model was estimated and evaluated using vector autoregressive model with time series data of long- and short-term interest rates. The data used for this purpose were call rate (1 day), loan interest rate, and Treasury rate (3 years) between January 2002 and December 2019, which were extracted monthly from the Bank of Korea database and used as variables, and a vector autoregressive (VAR) model was used as a research model. The stationarity test of variables was confirmed by the ADF-unit root test. Bidirectional linear dependency relationship between variables was confirmed by the Granger causality test. For the model identification, AICC, SBC, and HQC statistics, which were the minimum information criteria, were used. The significance of the parameters was confirmed through t-tests, and the fitness of the estimated prediction model was confirmed by the significance test of the cross-correlation matrix and the multivariate Portmanteau test. As a result of predicting call rate, loan interest rate, and Treasury rate using the prediction model presented in this study, it is predicted that interest rates will continue to drop.

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https://www.asianinstituteofresearch.org/JEBarchives/The-Influences-of-Interest-Rate%2C-Inflation-and-Market-Risk-on-the-Performance-of-Stock-Mutual-Funds-Through-to-the-Variables-Moderating-of-Stock-Index-LQ45-Registered-on-IDX-2016-2019

Journal of Economics and Business ◽

10.31014/aior.1992.03.04.294 ◽

2020 ◽

Vol 3 (4) ◽

Author(s):

Nur Anny Rahayu ◽

◽

Zainul Kisman ◽

Dwi Sunu Kanto

Keyword(s):

Regression Analysis ◽

Interest Rate ◽

Interest Rates ◽

Mutual Funds ◽

Mutual Fund ◽

Time Series Data ◽

Market Risk ◽

Stock Index ◽

Series Data ◽

Independent Variable

This study aims to determine the effect of interest rates, inflation and market risk on the performance of stock mutual funds with a stock index of lq45 as the moderating variable. The independent variable in this case is the interest rate (x1), inflation (x2), market risk (x3) and the dependent variable is the performance of stock mutual funds (y) and the stock index lq45 as the intervening variable (m). The type of research used is associative research, with a quantitative approach. This study takes all time series data that converts interest rates, inflation and market risk, stock index lq45 and the performance of stock mutual fund for the period 2016 to 2019. The number of research samples using saturated sampling techniques obtained is 40 samples. Data analysis used multiple regression analysis and moderated regression analysis using spss23. The results of the F test show that the lq45 index is able to moderate the independent variable interest rate, inflation, market risk together on the performance of stock mutual funds. The t test results show that the stock index lq45 is able to moderate the relationship between the variable interest rate and market risk on the performance of stock mutual funds, while the inflation variable cannot be moderated by the stock index lq45 on the performance of stock mutual funds.

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

Economic Journal of Nepal ◽

10.3126/ejon.v42i1-2.35903 ◽

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.

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Pengaruh diferensiasi produk terhadap volume penjualan pada home industri “Jenang Mirah” Josari Ponorogo

EQUILIBRIUM Jurnal Ilmiah Ekonomi dan Pembelajarannya ◽

10.25273/equilibrium.v5i1.1008 ◽

2017 ◽

Vol 5 (1) ◽

pp. 81

Author(s):

Pega Saputra

Keyword(s):

Interest Rate ◽

Time Series Data ◽

Alternative Hypothesis ◽

Linear Regression Analysis ◽

Coefficient Of Determination ◽

Series Data ◽

Simple Linear Regression ◽

The Interest Rate ◽

Descriptive Method

This study describes the influence of SBI interest rate on the rupiah at Bank Indonesia studies. The method in this research is descriptive method with quantitative approach. Determination of the sample is based on time series data 2009-2015 period by using saturation sampling methods as many as 84 samples. This research was conducted at Bank Indonesia has the sole purpose of achieving and maintaining stability in the rupiah. This study uses simple linear regression analysis which includes the classical assumption and hypothesis testing in the form of the coefficient of determination (r2) and the partial test (t test). The results showed that the interest rate significantly influence the exchange rate. that the null hypothesis is rejected and the alternative hypothesis is accepted.

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