An Error Correction Analysis of Exchange Rate Determinants in Ghana

Kód výsledku v 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>

Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

An Error Correction Analysis of Exchange Rate Determinants in Ghana

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

An Error Correction Analysis of Exchange Rate Determinants in Ghana

Popis výsledku anglicky

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.

Druh

J_x - Nezařazeno - Článek v odborném periodiku (Jimp, Jsc a Jost)

CEP obor

AH - Ekonomie

OECD FORD obor

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Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2014

Kód důvěrnosti údajů

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

Název periodika

Forum Statisticum Slovacum

ISSN

1336-7420

e-ISSN

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Svazek periodika

2013

Číslo periodika v rámci svazku

3

Stát vydavatele periodika

SK - Slovenská republika

Počet stran výsledku

5

Strana od-do

91-95

Kód UT WoS článku

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EID výsledku v databázi Scopus

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