Factors Affecting the Disparity of Vietnamese Gold Prices and Worldwide Gold Prices

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F70883521%3A28120%2F19%3A63522637" target="_blank" >RIV/70883521:28120/19:63522637 - isvavai.cz</a>

Výsledek na webu

<a href="https://www.cjournal.cz/index.php?hid=clanek&bid=archiv&cid=341&cp=" target="_blank" >https://www.cjournal.cz/index.php?hid=clanek&bid=archiv&cid=341&cp=</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.7441/joc.2019.03.10" target="_blank" >10.7441/joc.2019.03.10</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Factors Affecting the Disparity of Vietnamese Gold Prices and Worldwide Gold Prices

Popis výsledku v původním jazyce

Gold is a precious metal which is highly appreciated because of its prominent role in the world of investments, savings, and consumption. Although gold is no longer used as a primary form of currency in some countries, it continues to have a strong influence on the value of the currencies of those countries. Compared to all the other precious metals used for investment and trade, throughout history gold has always been preferred. The value of gold is a factor mentioned in the commodities and futures market. Vietnam does not produce/mine enough gold to meet its domestic requirements. As the country has to import over sixty percent of its gold, Vietnam’s gold price is mostly influenced by the world price movements, in turn increasing or decreasing domestically. Therefore, understanding and addressing the factors resulting in gold price disparities is essential in policy adjustments to stabilize the price of gold and prevent speculation, which may cause economic destabilization as well as a loss of competitiveness in Vietnamese market for gold and other precious metals. The study includes monthly data collected between January 2006 and December 2015. Exchange rates, import tax, and seasonal factor data are included in the model as independent variables. According to the empirical findings, the foreign exchange rate had a negative impact on the disparity between Vietnamese gold price and the world price. The import tax has a positive effect on the discrepancies among gold prices, while the seasonal factor variable was not statistically significant at 5 percent and negative concerning the disparity of the gold price.

Název v anglickém jazyce

Factors Affecting the Disparity of Vietnamese Gold Prices and Worldwide Gold Prices

Popis výsledku anglicky

Gold is a precious metal which is highly appreciated because of its prominent role in the world of investments, savings, and consumption. Although gold is no longer used as a primary form of currency in some countries, it continues to have a strong influence on the value of the currencies of those countries. Compared to all the other precious metals used for investment and trade, throughout history gold has always been preferred. The value of gold is a factor mentioned in the commodities and futures market. Vietnam does not produce/mine enough gold to meet its domestic requirements. As the country has to import over sixty percent of its gold, Vietnam’s gold price is mostly influenced by the world price movements, in turn increasing or decreasing domestically. Therefore, understanding and addressing the factors resulting in gold price disparities is essential in policy adjustments to stabilize the price of gold and prevent speculation, which may cause economic destabilization as well as a loss of competitiveness in Vietnamese market for gold and other precious metals. The study includes monthly data collected between January 2006 and December 2015. Exchange rates, import tax, and seasonal factor data are included in the model as independent variables. According to the empirical findings, the foreign exchange rate had a negative impact on the disparity between Vietnamese gold price and the world price. The import tax has a positive effect on the discrepancies among gold prices, while the seasonal factor variable was not statistically significant at 5 percent and negative concerning the disparity of the gold price.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50204 - Business and management

Projekt

—

Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2019

Kód důvěrnosti údajů

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

Název periodika

Journal of Competitiveness

ISSN

1804-171X

e-ISSN

—

Svazek periodika

11

Číslo periodika v rámci svazku

3

Stát vydavatele periodika

CZ - Česká republika

Počet stran výsledku

13

Strana od-do

160-172

Kód UT WoS článku

000488260600011

EID výsledku v databázi Scopus

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