Revisiting the exchange rate debate: the Jamaican experience

Atkins, Fiona

doi:10.1002/(sici)1099-1328(200001)12:1<121::aid-jid624>3.0.co;2-t

Cited by 8 publications

(5 citation statements)

References 14 publications

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“…Studies by Paul (1978) and Edwards (1986) concluded that currency devaluation causes a contractionary effect on economic growth. This is confirmed by Atkins (2000), Kamin and Rogers (2000), and Bahmani- Oskooee and Miteza (2006). By contrast, Gylfason and Schmid (1983) found that domestic currency devaluation can have an expansionary effect on GDP.…”

Section: Literature Reviewmentioning

confidence: 54%

Real Exchange Rate and Economic Growth: An Empirical Assessment for Vietnam

Huong

2019

Asian Economic and Financial Review

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In theory, exchange rates and economic growth are regarded as having an indirect link via trade and capital investment. However, empirical investigation of this link in the context of one specific country has not hitherto been seriously considered, and Vietnam is no exception. It is essential that policy makers have insight into the extent to which exchange rates impact on their country's rate of economic growth. This paper aims to do so for Vietnam. By conducting a Vector autoregression (VaR) estimation, the Granger Causality test, and impulse response, the article aims to analyze empirically the effects of real exchange rates on economic growth in Vietnam from 2007 to 2017 using quarterly data. The results show a positive relationship between real exchange rates and economic growth. A one percentage point real depreciation in Vietnamese dong rates (VND) may lead to a 1.61923 percent growth in real gross domestic product (GDP) in this country, but this takes effect only during the first four periods (or lag 1). Moreover, The variance decomposition of forecast errors (FEVD) outcome also reveals that the real effective exchange rate (REER) made only a small contribution to GDP growth over the decade to 2017 compared to earlier periods. Contribution/ Originality: This is one of very few studies that investigate the link between exchange rates and economic growth in Vietnam using real exchange rates in a VaR model.

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Section: Literature Reviewmentioning

confidence: 54%

Real Exchange Rate and Economic Growth: An Empirical Assessment for Vietnam

Huong

2019

Asian Economic and Financial Review

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“…Connolly (1983), Gylfason ve Schmid (1983), Krueger (1978), Taylor ve Rosensweig (1984), Aguirre ve Calderon (2005), Domac ve Shabsigh (1999) yaptıkları çalışmalarında döviz kurunun büyüme üzerinde olumlu etkiye sahip olduğunu vurgulamışlardır. Gylfason ve Radetzki (1985), Atkins (2000), Kamin and Roger (2000), Odusola Literatüre bakıldığında Covid-19 döneminde Kırgızistan bağlamında döviz kuru-büyüme ilişkisini ele alan çalışmaya rastlanılmamıştır. Bu çalışmanın literatüre katkısı iki yönden ele alınabilir.…”

Section: Literatürunclassified

Covid -19 Pandemi Sürecinde Döviz Kurunun Büyüme Üzerindeki Etkisi: Kırgızistan Örneği

ÖSKÖNBAYEVA¹,

Najimudinova²

2022

javs

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Özet 2019 yılında Çin'in Wuhan şehrinde ortaya çıkan Covid-19 virüsü kısa zamanda tüm dünyaya yayılmıştır. Söz konusu salgın tüm ülkelerin makro iktisadi performansını derinden etkilemiştir. Covid-19'un iktisadi etkileri sektörler ve ülkeler arasında önemli derecede hissedilmektedir. Pandemi sağlık başta olmak üzere hayatımızın tüm alanlarını olumsuz etkilemeye devam etmektedir. Alınan tedbirlere rağmen Covid-19 dünya ekonomilerini ciddi bir durgunluğa sürüklemeye devam etmektedir. Bu çalışmada Covid-19 döneminde Kırgızistan'da döviz kurunda meydana gelen değişimlerin iktisadi büyüme üzerindeki etkisini incelemektir. Bu amaç doğrultusunda söz konusu ülkenin 2018-2020 dönemine ait aylık verileri kullanılmıştır. İktisadi büyüme ve döviz kuru değişkenleri Kırgız Cumhuriyeti Merkez Bankası veri tabanından temin edilmiştir. Ampirik uygulamada Pesaran ve Shin (1999) ve Pesaran ve diğerleri (2001) tarafından geliştirilen ARDL (Gecikmesi Dağıtılmış Otoregresif Model) sınır testi yaklaşımı uygulanmıştır. Elde edilen bulgular ışığında Kırgızistan'da Covid-19 döneminde döviz kurunun iktisadi büyümeyi önemli düzeyde etkilediği söylenebilir. Araştırma bulgularının, Covid-19 döneminde döviz kurunun ekonomik büyüme üzerindeki etkilerine ışık tutacağı düşünülmektedir.

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“…Early contributions, including Connolly (1983) and Gylfason and Schmidt (1983), suggested expansionary effects of devaluations. Subsequently, the focus on contractionary effects gained in prominence, including in studies by Atkins (2000), Kamin and Roger (2000), Bahmani-Oskooee and Miteza (2006) and El-Ramly and Abdel-Haleim (2008). Mixed results were reported by Edwards (1986) and Rhodd (1993) who found negative (contractionary) short-run effects, while the long-run output response appeared to be positive.…”

Section: A Brief Review Of the Literaturementioning

confidence: 99%

Exchange Rate and Economic Growth

Razzaque

Bidisha

Khondker

2017

Journal of South Asian Development

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This article aims to understand the effects of exchange rate movements on economic growth in Bangladesh. Using a suitable analytical framework to derive an empirical specification, we construct a real exchange rate series and employ cointegration techniques to determine the output response to Bangladeshi currency depreciations. Our results suggest that in the long run, a 10 per cent depreciation of the real exchange rate is associated with, on average, a 3.2 per cent rise in aggregate output. However, a contractionary effect is observed in the short run so that the same magnitude of real depreciation would result in about a half per cent decline in GDP. While the long-run expansionary effect of real depreciations may be appealing for considering exchange rate policy as a development strategy, the likelihood of rising inflationary pressures needs to be kept in mind while pursuing this policy option.

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Revisiting the exchange rate debate: the Jamaican experience

Cited by 8 publications

References 14 publications

Real Exchange Rate and Economic Growth: An Empirical Assessment for Vietnam

Real Exchange Rate and Economic Growth: An Empirical Assessment for Vietnam

Covid -19 Pandemi Sürecinde Döviz Kurunun Büyüme Üzerindeki Etkisi: Kırgızistan Örneği

Exchange Rate and Economic Growth

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