A COMPARATIVE STUDY OF THE EFFECT OF EXCHANGE RATE CHANGES ON OUTPUT: EVIDENCE FROM PANEL COINTEGRATION IN SELECTED DEVELOPING COUNTRIES (1981-2004)

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GHETMIRI M.A.; SHERAFATIAN JAHROMI R.

مرکز اطلاعات علمی Scientific Information Database (SID) - Trusted Source for Research and Academic Resources

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Journal: Journal of Quantitative Economics Year:2007 | Volume:4 | Issue:1 Page(s): 25-50

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Title

A COMPARATIVE STUDY OF THE EFFECT OF EXCHANGE RATE CHANGES ON OUTPUT: EVIDENCE FROM PANEL COINTEGRATION IN SELECTED DEVELOPING COUNTRIES (1981-2004)

Author(s)

GHETMIRI M.A. | SHERAFATIAN JAHROMI R. | Issue Writer Certificate

Keywords

NOMINAL EFFECTIVE EXCHANGE RATEQ3

PANEL DATAQ2

PEDRONI COINTEGRATION TESTQ3

Abstract

The main aim of this article is to compare the effect of NOMINAL EFFECTIVE EXCHANGE RATE changes on real gross domestic product in countries with fixed exchange rate regime and those with floating exchange rate in the long run. For this purpose two groups of countries consisting of six countries each, one group with fixed exchange rate and another with floating exchange rate have been considered. PANEL DATA is used for the period 1981-2004. Im, Pesaran and Shin stationary and PEDRONI COINTEGRATION TESTs are used to verify the existence of long run relationship among variables. Based on Hausman test random effect model was estimated for both groups of countries. Results confirm the positive effect of devaluation on output for the group of countries with fixed exchange rate regime. The estimated coefficient is not statistically significant for the group of countries based on flexible exchange rate regime. Based on the study exchange rate policy can effectively be used along with other macroeconomic policies in order to achieve output and employment targets in those countries who have adopted pegged exchange rate regime.

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APA: Copy

GHETMIRI, M.A., & SHERAFATIAN JAHROMI, R.. (2007). A COMPARATIVE STUDY OF THE EFFECT OF EXCHANGE RATE CHANGES ON OUTPUT: EVIDENCE FROM PANEL COINTEGRATION IN SELECTED DEVELOPING COUNTRIES (1981-2004). JOURNAL OF QUANTITATIVE ECONOMICS (QUARTERLY JOURNAL OF ECONOMICS REVIEW), 4(1), 25-50. SID. https://sid.ir/paper/110649/en

Vancouver: Copy

GHETMIRI M.A., SHERAFATIAN JAHROMI R.. A COMPARATIVE STUDY OF THE EFFECT OF EXCHANGE RATE CHANGES ON OUTPUT: EVIDENCE FROM PANEL COINTEGRATION IN SELECTED DEVELOPING COUNTRIES (1981-2004). JOURNAL OF QUANTITATIVE ECONOMICS (QUARTERLY JOURNAL OF ECONOMICS REVIEW)[Internet]. 2007;4(1):25-50. Available from: https://sid.ir/paper/110649/en

IEEE: Copy

M.A. GHETMIRI, and R. SHERAFATIAN JAHROMI, “A COMPARATIVE STUDY OF THE EFFECT OF EXCHANGE RATE CHANGES ON OUTPUT: EVIDENCE FROM PANEL COINTEGRATION IN SELECTED DEVELOPING COUNTRIES (1981-2004),” JOURNAL OF QUANTITATIVE ECONOMICS (QUARTERLY JOURNAL OF ECONOMICS REVIEW), vol. 4, no. 1, pp. 25–50, 2007, [Online]. Available: https://sid.ir/paper/110649/en

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