An Error Correction Analysis of Exchange Rate Determinants in Ghana

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F14%3A00218649" target="_blank" >RIV/62156489:43110/14:00218649 - isvavai.cz</a>

Result on the web

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DOI - Digital Object Identifier

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Result language

angličtina

Original language name

An Error Correction Analysis of Exchange Rate Determinants in Ghana

Original language description

This paper investigates the main determinants of the nominal exchange rate in Ghana using an Error Correction Model. The results show that in the short-run, the Ghana cedi depreciates by 3 pesewas for every percentage point increase in the level of inflation, and by 4 pesewas for every billion Ghana cedi increase in public debt. A growth in real GDP by a percentage point causes the cedi to appreciate by 2 pesewas and by 3 pesewas in the case of commodity terms of trade. Every billion increase in the money supply causes the cedi to depreciate by 13 pesewas and appreciates by 25 pesewas for a billion dollar increase in foreign direct investment. A percentage point increase in the nominal interest rate causes the cedi to appreciate by 0.2 pesewas and 97%of the disequilibrium from the previous year is restored annually.

Czech name

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Czech description

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Type

J_x - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)

CEP classification

AH - Economics

OECD FORD branch

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Project

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Continuities

S - Specificky vyzkum na vysokych skolach

Publication year

2014

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Forum Statisticum Slovacum

ISSN

1336-7420

e-ISSN

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Volume of the periodical

2013

Issue of the periodical within the volume

3

Country of publishing house

SK - SLOVAKIA

Number of pages

5

Pages from-to

91-95

UT code for WoS article

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EID of the result in the Scopus database

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