scholarly journals Effect of Inflation On Growth of Manufacturing Sector in Kenya (2008-2017)

2021 ◽  
pp. 17-34
Author(s):  
Julius Wesonga Oduor ◽  
Consolata Ngala ◽  
Reuben Ruto ◽  
Umulkher Ali Abdillahi
Keyword(s):  
Central Bank ◽  
Interest Rates ◽  
Time Series Data ◽  
Manufacturing Sector ◽  
Value Added ◽  
Secondary Data ◽  
Series Data ◽  
National Bureau ◽  
Test Analysis ◽  
Cointegration Tests

Aim: This study sought to address the effect of inflation on the growth of the manufacturing sector in Kenya. Research design: The study used descriptive, correlational, and inferential research designs. The study used secondary data, specifically, from the World Bank, United Nations Conference on Trade and Development (UNCTAD), International Monetary Fund (IMF), Central Bank of Kenya (CBK), and Kenya National Bureau of Statistics (KNBS) for the period 2008-2017. Methodology: Time series data were analyzed quarterly using EViews software. The study employed descriptive statistics, correlation analysis, and regression analysis. Pre-test analysis entailed Augmented Dickey-Fuller (ADF) tests for unit root, Bai-Perron Multiple Breakpoint tests, and Bounds Cointegration tests. The post-test analysis included the Breusch-Godfrey tests for autocorrelation, the Breusch-Pagan-Godfrey tests for heteroscedasticity, Variance Inflation Factors (VIF) tests for multicollinearity, Jarque-Bera statistics tests for normality, and CUSUM tests for model stability. Results: The regression model estimates for inflation were (-0.19269, p<0.05). The results imply that holding other factors constant, a unit increase in inflation reduces manufacturing value-added by 0.19269 units. Conclusion: Inflation has a statistically and significant negative effect on the growth of the manufacturing sector in Kenya. To achieve manufacturing value-added growth, the study recommends that the Central Bank of Kenya (CBK) should have inflation targets and adopt appropriate monetary policies to monitor fluctuating inflation rates. Furthermore, the CBK should keep lending interest rates as low as possible so that manufacturers incur less on acquiring credit from commercial banks and ultimately produce goods at affordable prices.

scholarly journals Interest Rates and Foreign Investor Activity in Kenya: Evidence from Nairobi Securities Exchange

2020 ◽  
pp. 75-82
Author(s):  
Loice Koskei
Keyword(s):  
Interest Rates ◽  
Inflation Rate ◽  
Time Series Data ◽  
Multiple Regression Model ◽  
Series Data ◽  
Foreign Investor ◽  
National Bureau ◽  
Treasury Bills ◽  
Monthly Data ◽  
Deposit Rate

Interest rates play a key role in attracting foreign investor activity in the country. This study investigated the effect of interest rates on foreign investor activity at Nairobi Securities Exchange in Kenya. Monthly data was collected from Nairobi Securities Exchange, Central Bank of Kenya and Kenya National Bureau of Statistics. Time series data for eleven year period spanning from January 2009 to December 2019 was used.  The multiple regression model results disclosed that interest rates as measured by lending rate had a positive and statistically significant effect on foreign investor. Inflation rate results had a negatively but statistically significant effect on foreign investor. The results for exchange rate had a negative but statistically insignificant effect on foreign investor activity. The deposit rate results indicated a negative and statistically significant effect on foreign investor activity implying that commercial banks deposit rate has an effect on foreign investor activity. The results for 91-day treasury bills specified a positive and non-statistically insignificant relationship with foreign investor activity pointing that for 91- day treasury bills do not affect the foreign investor activity at Nairobi securities exchange in Kenya.

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 PENGARUH JUMLAH PERCEPATAN RESTITUSI PAJAK PERTAMBAHAN NILAI TERHADAP PENERIMAAN PAJAK PERTAMBAHAN NILAI (Studi pada Kantor Pelayanan Pajak Pratama Malang Utara)

Profit ◽  
2021 ◽  
Vol 15 (01) ◽  
pp. 120-129
Author(s):  
Astri Warih Anjarwi ◽  
Linda Kharisma
Keyword(s):  
Time Series ◽  
Data Analysis ◽  
Time Series Data ◽  
Value Added ◽  
Secondary Data ◽  
Variable Number ◽  
Series Data ◽  
Value Added Tax ◽  
Analysis Technique ◽  
The Cost

The Accelerated of Value Added Tax Restitution is Indonesian government’s policy to a preliminary refund of value added tax overpayment. The simplification or the acceleration of the provision of restitution is done without strict examination and long process, but by simple research. Accelerated restitution policy is given to the Taxpayer who fulfills certain requirements (certain amount of restitution as mentioned above), certain criteria (Taxpayers who comply) and they are low risk Taxable Entrepreneurs that determined by the Minister of Finance. The Acceleration of Value Added Tax restitution is expected to reduce the cost compliance because the provision of restitution is done without examination and it is hoped that this policy could increase cash flow and liquidity of the economy. The research’s purpose is determine to impact the number of acceleration of value added tax restitution to the acceptance of value added tax. The type of research is explanatory research with a quantitative approach. The research’s data is secondary data that obtaine from the Pratama Tax Office Malang Utara. The research’s data is time series data during the periode of April 2018 – November 2019. The data analysis technique on the research is a simple regresi linier analysis. The results of this research is variable number of acceleration restitution on value added tax impact and significant for the revenue value added tax in the Pratama Tax Office Malang Utara. The value of R Square earned is 0.374 which means that the number of accelerated restitution of value added tax has an impact on the variable revenue of value added tax is 37.4%.

scholarly journals Revitalising Indonesia’s Manufacturing

2017 ◽  
Vol 16 (1) ◽  
pp. 124-153 ◽  
Author(s):  
Mohammad Zulfan Tadjoeddin ◽  
Ilmiawan Auwalin ◽  
Anis Chowdhury
Keyword(s):  
Time Series Data ◽  
Manufacturing Sector ◽  
Labour Productivity ◽  
Value Added ◽  
Capital Intensity ◽  
Important Variable ◽  
Series Data ◽  
Firm Level ◽  
Cross Sectional ◽  
The Common

In light of the continuing importance, but declining dynamism, of the manufacturing sector, this paper investigates trends in productivity at firm levels. It finds that labour productivity has been either stagnant or falling in labour-intensive manufacturing. The paper uses firm level cross-sectional and time series data and employs GMM techniques to estimate determinants of productivity. It finds that real wage is the most important variable that influences firm level productivity, followed by capital intensity. Contrary to the common perception, foreign ownership and export orientation are not found to have statistically significant influence on firm level productivity. This finding is consistent for firms of all sizes—large, medium, small and micro. This implies that Indonesia can use wages policy, as Singapore did during the late 1970s to mid-1980s, to upgrade its manufacturing to higher value-added activities.

scholarly journals The Impact of Macroeconomic Factors on Manufacturing Sector Value Added in Ethiopia: An Application of Bounds Testing Approach to Cointegration

2020 ◽  
Vol 23 (1) ◽  
Author(s):  
Dagim Tadesse Bekele ◽  
Meskerem Teka Haile
Keyword(s):  
Exchange Rate ◽  
Time Series Data ◽  
Manufacturing Sector ◽  
Government Expenditure ◽  
Value Added ◽  
Series Data ◽  
Macroeconomic Variables ◽  
Long Run ◽  
The Impact ◽  
Bound Test

The role of the manufacturing sector for the economic growth and structural change is very low in Ethiopia and performing less compering with that of the other sectors in the economy. So, this research tried to look at how different macroeconomic variables affect the manufacturing sector value added by using annual time series data from 1982 to 2018 estimated by Autoregressive-Distributed Lag (ARDL). The result from the Bound test shows manufacturing sector value added has a long-run relationship with macroeconomic variables in the model. In the long-run, general inflation rate, exchange rate, and trade openness have a significant negative effect on the manufacturing sector value-added. In contrast, general government expenditure has a significant positive effect. Also, the Error Correction model shows an adjustment towards the long-run equilibrium of the manufacturing sector value-added. So, the government has to control the general inflation level, promote demand for domestic manufacturing products and competitiveness of domestic firms, and strengthen the backward link of the sector to decrease its import-input dependency to reduce the effect of exchange rate depressions. Lastly, effective and efficient government expenditure will have to be used to increase the manufacturing sector value-added.

scholarly journals Analisis Tingkat Profitabilitas Perbankan Syariah di Indonesia

2020 ◽  
Vol 5 (1) ◽  
pp. 1
Author(s):  
Nur Lailatul Fatmawati ◽  
Abdul Hakim
Keyword(s):  
Time Series ◽  
Exchange Rates ◽  
Interest Rates ◽  
Growth And Development ◽  
Time Series Data ◽  
Secondary Data ◽  
Quantitative Approach ◽  
Series Data ◽  
Islamic Banking

The ability of banks to generate profitability greatly impacts the growth and development of sharia banking. In maintaining and enhancing the growth of sharia banking, several components, both internal and external, are needed. The low profitability of banks indicates that banks are not good in their performance. Profitability is still something that is always wanted to be improved by Islamic banking because it sees the movement of Islamic banking growth that is still lagging far behind that of conventional banking. will be able to increase profitability. The purpose of this study is to determine the effect of FDR, BOPO, and exchange rates on the level of profitability (ROA). To determine the effect of NPF and interest rates on the level of profitability (ROA). To find out the influence of Mudharabah Financing, musyarakah financing and murabahah financing on profitability (ROA). This research uses a quantitative approach. The type of data used in this study is secondary data in the form of time series data. This study shows that FDR, BOPO, and exchange rates have a negative and significant effect on the level of profitability (ROA). NPF and interest rates have a negative and not significant effect on the level of profitability (ROA). Mudharabah financing, musyarakah financing and murabahah financing have a positive and not significant effect on profitability (ROA).

scholarly journals Agro-Allied Industry and its Relevance on Economic Performance: Evidence from Nigeria

2017 ◽  
Vol 3 (6) ◽  
pp. 25
Author(s):  
Gylych Jelilov ◽  
Kashim Andrew Bahago
Keyword(s):  
Time Series Data ◽  
Value Added ◽  
Secondary Data ◽  
Series Data ◽  
Poverty Level ◽  
Factor Endowments ◽  
Long Run ◽  
Development Indicator ◽  
World Development Indicator ◽  
World Development

<p>Nigeria is a nation with various factor endowments, but yet there is still the threat of hunger, extreme poverty and the need to combat this menace calls for urgent attention. Therefore, this study is to focus on the analysis of agro-allied industry and the possibility of reducing the poverty level of the Nigerian populace and enhance a better economic condition. The data for this study is a yearly range from 1986 – 2015. The time series data used for this study is secondary data obtained from world development indicator (WDI). Using the Augmented Dicky-Fuller to check for stationarity of variables after which I will conduct the cointegration test to check for the long-run relationship between the variables. Therefore the findings from various econometrics techniques employed for this study show that there is a long-run relationship between agricultural value-added and gross domestic product.</p>

scholarly journals PENGARUH INFLASI, KURS DOLAR AS, DAN SUKU BUNGA (BI), TERHADAP PENENTUAN HARGA EMAS

Kinerja ◽  
2020 ◽  
Vol 2 (01) ◽  
pp. 71-94
Author(s):  
Elly Soraya Nurulhuda ◽  
Kosasih Kosasih
Keyword(s):  
Interest Rates ◽  
Time Series Data ◽  
Secondary Data ◽  
Series Data ◽  
Regression Methods ◽  
Negative Effect ◽  
Us Dollar ◽  
The Right ◽  
A Company ◽  
Positive Effect

Investing gold is one of the right choices to avoid losses due to the economy that is sometimes uncertain, gold investment is a low-risk investment instrument, gold is a good hedge option because gold is not affected by inflation or zero inflation. This study aims to determine the effect of inflation, US Dollar Exchange Rates, and Interest Rates (BI), on the Gold Price. The sample used in this study is the company PT Antam Tbk, 2014-2018, where the company is a company engaged in the sale of gold and other metals, as well as a company that sets the price of gold in Indonesia. This study uses a quantitative approach. The data used are secondary data from 2014-2018. The data analysis technique used is time-series data with multiple linear regression methods of panel data using Eviews 9. Based on the analysis found that partially (t-test) inflation has a significant positive effect on the price of gold, while the US dollar exchange rate has a positive effect not significant to the price of gold. And simultaneously (Test F) Interest Rate (BI) has a significant negative effect on the price of gold.

scholarly journals PENGARUH TINGKAT SUKU BUNGA, INFLASI, KURS DAN PERTUMBUHAN PRODUK DOMESTIK BRUTO TERHADAP INDEKS HARGA SAHAM GABUNGAN DI BURSA EFEK INDONESIA

2021 ◽  
Vol 5 (2) ◽  
pp. 70
Author(s):  
Tsoraya Utami ◽  
Murtala Murtala ◽  
Hilmi Hilmi
Keyword(s):  
Exchange Rate ◽  
Interest Rate ◽  
Interest Rates ◽  
Stock Price ◽  
Time Series Data ◽  
Stock Exchange ◽  
Secondary Data ◽  
Series Data ◽  
Gdp Growth ◽  
Distributed Lag

ABSTRACT This study aims to examine the effect of interest rates, inflation, exchange rates and gross domestic product growth on the Composite Stock Price Index (IHSG) on the IDX during the 2003-2018 period on a quarterly basis. The type of data used is secondary data in the form of time series data obtained from published reports from Bank Indonesia, the Central Bureau of Statistics and the Indonesia Stock Exchange. The data analysis method used is the Autoregressive Distributed Lag (ARDL) Model. The results of this study found that the exchange rate and inflation had a negative and significant effect on the IHSG, while GDP growth had a positive and significant effect on the IHSG. However, the interest rate did not have a significant effect on the IHSG. Keywords:         Interest Rate, Inflation, Exchange Rate, GDP Growth and IHSG

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

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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