EN
The Impact of Macroeconomic, Oil Prices and Socio-economic Factors on Exchange Rate in Pakistan: An Auto Regressive Distributed Lag Approach
Abstract
The study examines the linkages among the nominal exchange rate, oil prices, terrorism and three selected macroeconomic variables: real growth rate, inflation rate and interest rate. The paper employed Auto Regressive Distributed Lag to test the long run and short run dynamics over the period 1980 to 2015 in the context of Pakistan. A novel technique to this research is that we demarcate the relationship among macroeconomic variables, financial variable and socio-economic variable. The findings of the research depict a robust long run relationship among variables. Furthermore, the results showed that the adjustment process is slow and short run adjustment indicating that the discrepancies adjust completely in the same period. Hence, the efficient monetary and fiscal policy should keep into consideration before devising policies that have a greater influence on the variability of exchange rate.
Keywords
Details
Primary Language
English
Subjects
-
Journal Section
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Publication Date
March 1, 2017
Submission Date
March 1, 2017
Acceptance Date
-
Published in Issue
Year 2017 Volume: 7 Number: 1
APA
Ramakrishnan, S., Butt, S., & Anuar, M. A. (2017). The Impact of Macroeconomic, Oil Prices and Socio-economic Factors on Exchange Rate in Pakistan: An Auto Regressive Distributed Lag Approach. International Journal of Economics and Financial Issues, 7(1), 489-499. https://izlik.org/JA87HA29XP
AMA
1.Ramakrishnan S, Butt S, Anuar MA. The Impact of Macroeconomic, Oil Prices and Socio-economic Factors on Exchange Rate in Pakistan: An Auto Regressive Distributed Lag Approach. IJEFI. 2017;7(1):489-499. https://izlik.org/JA87HA29XP
Chicago
Ramakrishnan, Suresh, Shamaila Butt, and Melati Ahmad Anuar. 2017. “The Impact of Macroeconomic, Oil Prices and Socio-Economic Factors on Exchange Rate in Pakistan: An Auto Regressive Distributed Lag Approach”. International Journal of Economics and Financial Issues 7 (1): 489-99. https://izlik.org/JA87HA29XP.
EndNote
Ramakrishnan S, Butt S, Anuar MA (March 1, 2017) The Impact of Macroeconomic, Oil Prices and Socio-economic Factors on Exchange Rate in Pakistan: An Auto Regressive Distributed Lag Approach. International Journal of Economics and Financial Issues 7 1 489–499.
IEEE
[1]S. Ramakrishnan, S. Butt, and M. A. Anuar, “The Impact of Macroeconomic, Oil Prices and Socio-economic Factors on Exchange Rate in Pakistan: An Auto Regressive Distributed Lag Approach”, IJEFI, vol. 7, no. 1, pp. 489–499, Mar. 2017, [Online]. Available: https://izlik.org/JA87HA29XP
ISNAD
Ramakrishnan, Suresh - Butt, Shamaila - Anuar, Melati Ahmad. “The Impact of Macroeconomic, Oil Prices and Socio-Economic Factors on Exchange Rate in Pakistan: An Auto Regressive Distributed Lag Approach”. International Journal of Economics and Financial Issues 7/1 (March 1, 2017): 489-499. https://izlik.org/JA87HA29XP.
JAMA
1.Ramakrishnan S, Butt S, Anuar MA. The Impact of Macroeconomic, Oil Prices and Socio-economic Factors on Exchange Rate in Pakistan: An Auto Regressive Distributed Lag Approach. IJEFI. 2017;7:489–499.
MLA
Ramakrishnan, Suresh, et al. “The Impact of Macroeconomic, Oil Prices and Socio-Economic Factors on Exchange Rate in Pakistan: An Auto Regressive Distributed Lag Approach”. International Journal of Economics and Financial Issues, vol. 7, no. 1, Mar. 2017, pp. 489-9, https://izlik.org/JA87HA29XP.
Vancouver
1.Suresh Ramakrishnan, Shamaila Butt, Melati Ahmad Anuar. The Impact of Macroeconomic, Oil Prices and Socio-economic Factors on Exchange Rate in Pakistan: An Auto Regressive Distributed Lag Approach. IJEFI [Internet]. 2017 Mar. 1;7(1):489-9. Available from: https://izlik.org/JA87HA29XP