scholarly journals The Impact of Macroeconomic Variables on Foreign Exchange Reserves in Jordan: FMOLS, DOLS

2020 ◽  
Vol 9 (4) ◽  
Author(s):  
Ali Mustafa Al-Qudah ◽  
Eyad Malkawi
Keyword(s):  
Foreign Exchange ◽  
Foreign Exchange Reserves ◽  
Macroeconomic Variables ◽  
The Impact

scholarly journals The Impact of Macroeconomic Variables on Stock Prices: An Empirical Analysis of Islamabad Stock Exchange

2014 ◽  
Vol 10 (2) ◽  
pp. 73-93
Author(s):  
Nosheen Rasool ◽  
Muhammad Mubashir Hussain
Keyword(s):  
Exchange Rate ◽  
Significant Relationship ◽  
Stock Prices ◽  
Price Index ◽  
Stock Exchange ◽  
Foreign Exchange Reserves ◽  
Macroeconomic Variables ◽  
Production Index ◽  
Long Run ◽  
The Impact

The purpose of this study was to analyze long-run causal relationship between ISE (Islamabad Stock Exchange) and macroeconomic variables in Pakistan and also find out the direction of causality. The impact of macroeconomic variables on stock prices of ISE has not been previously discussed by the researchers. The monthly data from January 2001 to December 2010 was used in this study. The set of macroeconomic variables include Exchange Rate (ER), Foreign Exchange Reserves (FER), Industrial Production Index (IPI), Interest Rate (IR), Imports (M), Money Supply (MS), Wholesale Price Index (WPI) and Exports (X). Descriptive statistics and Unit root test, Johansen Co-integration Technique and Granger Causality Technique were employed to analyze the long-run and causal relationship between the macroeconomic variables and stock prices.  The results revealed that M showed positive and significant relationship but Foreign Exchange Reserves (FER) and Industrial Production Index (IPI) indicated positive and insignificant relationship with the stock prices. Exchange rate(ER), Money supply (MS) and  Whole sale price index(WPI) showed negative but significant relationship while Interest  rate (IR) and Export( X )indicated a negative and insignificant relationship with the stock prices. The findings of Granger Causality revealed that only exports showed a unidirectional causal relationship. 

scholarly journals Analysis on the Impact of the Foreign Exchange Reserves of China on Its Macro Economy

2021 ◽  
Vol 233 ◽  
pp. 01159
Author(s):  
Jiahao Zhang
Keyword(s):  
International Development ◽  
Foreign Exchange ◽  
Foreign Debt ◽  
Foreign Exchange Reserve ◽  
Foreign Exchange Reserves ◽  
Negative Effects ◽  
Rate System ◽  
Policy Suggestions ◽  
Exchange Rate System ◽  
The Impact

China has the largest foreign exchange reserve in the world, but the high foreign exchange reserve is a double-edged sword for the country. There are two kinds of analysis for this. First, China's foreign exchange reserves have far exceeded the reasonable scale, which will cause China to pay extremely high management costs. Second, China's foreign exchange reserves are considerable, but this is the objective demand of the economy. Sufficient foreign exchange reserves can make China occupy a favorable position in international development. Based on the data on China's foreign exchange reserve, foreign debt scale and GDP from 1985 to 2019, this paper analyzes the positive and negative effects of high foreign exchange reserve on China's economic development. By analyzing the current situation of China's foreign exchange, the author gives some policy suggestions: (1) appropriately reduce foreign exchange reserves; (2) promote the reform of the exchange rate system; (3) reform the foreign exchange system

scholarly journals Dynamic impact of Gold Prices, Oil Prices and Exchange Rate on Stock Market Performance: A Case of Pakistan’s Stock Exchange (KSE 100 Index)

2021 ◽  
Vol 7 (1) ◽  
pp. 1-12
Author(s):  
Asif Ali ◽  
Muhammad Kamran Khan ◽  
Hamid Ullah
Keyword(s):  
Exchange Rate ◽  
Stock Market ◽  
Foreign Exchange ◽  
Market Performance ◽  
Oil Prices ◽  
Series Data ◽  
Macroeconomic Variables ◽  
Term Relation ◽  
Stock Market Performance ◽  
The Impact

Currently emerging markets are passing through economic turmoil due to considerable increases in the prices of oil and gold with significant variation in the foreign exchange market. All the macroeconomic variables are touching the highest value which was never occurred in the history of Pakistan. Taking advantages of the current situation the study has examined the impact of gold prices, oil prices and exchange rate on stock market performance. For this purpose, the study has used daily data of these macroeconomic variables for the period of 2003 to 2018. By using time series data analysis, it reveals that there is no co-integration or long-term relation among these variables; however, the vector autoregressive model showed significant short-term relation among the securities market performance, foreign exchange rate, prices of oil and gold. The analysis also suggests that significant changes in the prices of oil, foreign exchange rates and the prices of gold have a negative lagged effect on the performance of the stock market.

scholarly journals The Impact of Macro Economy on Stock Price Index: An Empirical Study of Five ASEAN Countries

2017 ◽  
Vol 5 (2) ◽  
pp. 40-45
Author(s):  
Embun Prowanta ◽  
Moeljadi Moeljadi ◽  
Sumiati Sumiati ◽  
Kusuma Ratnawati
Keyword(s):  
Exchange Rates ◽  
Interest Rates ◽  
Foreign Exchange ◽  
Stock Price ◽  
Price Index ◽  
The Philippines ◽  
Foreign Exchange Reserves ◽  
Macroeconomic Variables ◽  
Stock Price Index ◽  
Asean Countries

Objective - The objective of the study is to empirically investigate the relationship between macroeconomic variables as Gross Domestic Product (GDP), inflation, interest rates, exchange rates, foreign exchange reserves, current accounts and export-import towards the stock price index. Methodology/Technique - The data used is monthly data for macroeconomic and the stock price index of five ASEAN countries including Indonesia, Malaysia, Singapore, Thailand and the Philippines from 2006 to 2015. The analysis uses a regression estimation of panel data and a series of chow tests i.e. the Hausman test and the LM test as the selection process, with the aim of determining the macroeconomic variables that could significantly affect the stock price index of five ASEAN countries. Findings - The result show that of the seven macroeconomic variables affecting the stock price index, only four macroeconomic variables showed a significant effect. These are GDP, interest rates, exchange rates, and inflation. Meanwhile, three other variables (foreign exchange reserves, current accounts and export-import) did not show a significant effect. Novelty - The study looked at the effect of deregulation on stock markets, focusing on variables that significantly influence the stock price index. Type of Paper - Empirical Keywords: Stock Price Index; Macro Economics; Five ASEAN Countries.

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