scholarly journals The Oil Price and Trade Nexus in the Gulf Co-Operation Council Countries

Resources ◽  
2020 ◽  
Vol 9 (12) ◽  
pp. 139
Author(s):  
Tarek Tawfik Yousef Alkhateeb ◽  
Haider Mahmood
Keyword(s):  
Saudi Arabia ◽  
Exchange Rates ◽  
Real Exchange Rates ◽  
Oil Prices ◽  
The Real ◽  
Negative Effect ◽  
Asymmetrical Impact ◽  
Panel Estimates ◽  
Positive Effect ◽  
Country Specific

The present study investigates the asymmetrical impacts of oil prices and real exchange rates on the trade balances in the Gulf Co-operation Council countries. Using panel estimates, we found the symmetrical positive effect from the oil prices and the asymmetrical positive effect from the real exchange rates on the trade balances. For country-specific results, increasing oil prices showed a positive effect on the trade balances in Oman, Saudi Arabia, and the UAE and a negative effect in Kuwait. Decreasing oil prices carried a positive relationship with the trade balances in Bahrain, Oman, Qatar, and the UAE. The oil prices showed an asymmetrical impact on the trade balances in all countries, except Saudi Arabia. Moreover, the depreciation helped to improve the trade balances in Bahrain, Oman, Qatar, and the UAE. The appreciation worsened the trade balances in Oman, the UAE, and Saudi Arabia and improved the trade balance in Kuwait. Moreover, the asymmetrical relationships between the real exchange rates and the trade balances were corroborated in all of the investigated countries.

Common Trends and Common Cycles in Oil Price and Real Exchange Rate

2014 ◽  
Vol 14 (2) ◽  
pp. 249-263 ◽  
Author(s):  
Hem C. Basnet ◽  
Puneet Vatsa ◽  
Subhash Sharma
Keyword(s):  
Exchange Rate ◽  
Exchange Rates ◽  
Crude Oil ◽  
Real Exchange Rates ◽  
Oil Prices ◽  
Oil Price ◽  
Cycle Decomposition ◽  
The Real ◽  
Crude Oil Prices ◽  
Common Cycles

This study explores the long- and short-run movement between oil prices and the real exchange rates of two large oil-exporting countries – Canada and Norway. Cointegration and serial correlation common features tests are jointly used to identify the long-term common trend and short-term common cycles. Our test results find that oil prices and the real exchange rates of the Canadian Dollar and the Norwegian Krone have two shared trends and one shared cycle. The trend–cycle decomposition shows a great deal of positive comovement among the trend and cyclical components. The two currencies show economic dynamics very similar to crude oil prices. They do not exhibit any qualitative differences in the trajectory of the trend and cycles when controlling for different crude oil prices. Our results indicate that oil price fluctuations play significant role in explaining the exchange rate movements of oil-exporting countries.

scholarly journals Analysis of Current Account and Real Exchange Rate: Lower Middle Income Countries in Association of Southeast Asian Nations

2019 ◽  
Vol 8 (5C) ◽  
pp. 662-668
Keyword(s):  
Foreign Direct Investment ◽  
Exchange Rate ◽  
Exchange Rates ◽  
Real Exchange Rate ◽  
Current Account ◽  
Direct Investment ◽  
Real Exchange Rates ◽  
Middle Income ◽  
Negative Effect ◽  
Positive Effect

The study investigates the simultaneous equation model of the current account and real exchange rates in group of lower middle income in Association of Southeast Asian Nations (ASEAN). This study uses time series from 2000-2017 (18 years) and cross section 6 countries (Indonesia, Philippines, Vietnam, Lao, Myanmar, and Cambodia). There are three important findings in this study; first, for the current account is financial development has positive effect while government spending and foreign direct investment have negative effect; second, for the real exchange rate is economic openness, money supply, and interest rate have positive effect while foreign direct investment and current account have negative effect; third, only current account affects real exchange rates. Therefore, it is highly recommended for group of lower middle income in ASEAN to intervene in monetary policy variables so that uncontrolled deficits and fluctuations can achieve equilibrium in group of lower middle income in ASEAN.

South Africa’s Trade Performance under Alternative Exchange Rate Regimes

2018 ◽  
Vol 10 (6) ◽  
pp. 261
Author(s):  
Romaine Patrick ◽  
Phocenah Nyatanga
Keyword(s):  
South Africa ◽  
Exchange Rate ◽  
Exchange Rates ◽  
Exchange Rate Regime ◽  
Real Exchange Rates ◽  
Series Data ◽  
Growth Strategies ◽  
The Real ◽  
Real Price ◽  
Floating Exchange Rate

This study examined the effect exchange rates have on import and export volumes under alternative exchange rate policies adopted in South Africa over the period 1960 to 2017. Using quarterly time series data for the stated period, a log-linear error correction model is employed to estimate the country’s export and import elasticities, taking into account Gross Domestic Product (GDP), the real price of exports, the real price of imports and real exchange rates. Using the freely floating exchange rate regime as the base period, the study concluded that both export and import volumes are lower under a system of fixed exchange rates. Export and import volumes were also found to be lower under the dual exchange rate regime, relative to the freely floating exchange rate regime. In accordance with export-led growth strategies, exports were found to be higher and imports lower under a managed floating exchange rate regime. It is therefore recommended that South Africa revert to a more managed exchange rate regime, until the South African economy is developed to accommodate a freely floating exchange rate regime.

scholarly journals Boom Goes the Price: Giant Resource Discoveries and Real Exchange Rate Appreciation

2020 ◽  
Vol 130 (630) ◽  
pp. 1715-1728 ◽  
Author(s):  
Torfinn Harding ◽  
Radoslaw Stefanski ◽  
Gerhard Toews
Keyword(s):  
Exchange Rate ◽  
Exchange Rates ◽  
Real Exchange Rate ◽  
Direct Evidence ◽  
Oil And Gas ◽  
Real Exchange Rates ◽  
Labour Productivity ◽  
Dutch Disease ◽  
The Real ◽  
Traded Goods

Abstract We estimate the effect of giant oil and gas discoveries on bilateral real exchange rates. A giant discovery with the value of 10% of a country’s GDP appreciates the real exchange rate by 1.5% within ten years following the discovery. The appreciation starts before production begins and the non-traded component of the real exchange rate drives the appreciation. Labour reallocates from the traded goods sector to the non-traded goods sector, leading to changes in labour productivity. These findings provide direct evidence on the channels central to the theories of the Dutch disease and the Balassa–Samuelson effect.

scholarly journals Pengaruh Nilai Tukar terhadap Return Saham dengan Profitabilitas sebagai Variabel Intervening

2020 ◽  
Vol 30 (5) ◽  
pp. 1283
Author(s):  
Made Dewi Gita Puspita Lestari ◽  
I Gusti Ngurah Agung Suaryana
Keyword(s):  
Exchange Rates ◽  
Stock Returns ◽  
Sampling Method ◽  
Stock Exchange ◽  
Participant Observation ◽  
Analysis Techniques ◽  
Observation Methods ◽  
Negative Effect ◽  
Positive Effect ◽  
Collection Methods

The research aims to examine the effect of exchange rates on stock returns through profitability. The study was conducted on mining companies listed on the Stock Exchange which numbered 49 companies. Samples were determined by a purposive sampling method totaling 7 companies that were studied for 3 years of observation using quarterly reports, so there are 84 observation datas. Data collection methods and data analysis techniques used are non-participant observation methods and path analysis. The results showed that the exchange rate had a significant negative effect on stock returns and profitability. Profitability has a significant positive effect on stock returns, and exchange rates have indirect influence on stock returns through profitability. Keywords: Stock Returns; Exchange Rates; Profitability.

Are the Real Exchange Rates of the New EU Member Countries in Line with Fundamentals? – Implications of the NATREX Approach

2012 ◽  
Vol 232 (2) ◽  
Author(s):  
Michael Frenkel ◽  
Isabell Koske
Keyword(s):  
Exchange Rate ◽  
Exchange Rates ◽  
Real Exchange Rate ◽  
Real Exchange Rates ◽  
Oecd Countries ◽  
The Real ◽  
Estimation Strategy ◽  
Limited Availability ◽  
Two Step Estimation ◽  
The Eu

SummaryThis paper derives equilibrium real exchange rates for the EU member countries that joined in 2004 and in 2007. Our analysis is based on the natural real exchange rate approach and uses data for the period 1980-2007. We employ a two-step estimation strategy to deal with the limited availability and reliability of data from these countries. We first estimate the model for a panel of 17 OECD countries and then apply the estimated relationship to the new EU member countries. While the model does not support the appreciation of some of the examined currencies in 2005-2007, the development of several other currencies of the CEECs appears to be fairly in line with our NATREX estimates.

scholarly journals Corporate Social Responsibility and Brand Image: An Empirical Investigation of Private Sector Hospitals in Saudi Arabia

2016 ◽  
Vol 9 (9) ◽  
pp. 91 ◽  
Author(s):  
Ala'Eddin Mohammad Khalaf Ahmad ◽  
Omar Zayyan Alsharqi ◽  
Hussein Mohammad Al-Borie ◽  
Mowaffag Mohammed Ashoor ◽  
Abdulkaream Saeed Al-Orige
Keyword(s):  
Saudi Arabia ◽  
Brand Image ◽  
Sampling Technique ◽  
Community Relations ◽  
Private Hospitals ◽  
Jeddah City ◽  
Negative Effect ◽  
Corporate Social ◽  
The Impact ◽  
Positive Effect

<p>The purpose of this paper is to investigate the impact of CSR on brand image of private hospitals in Jeddah city, Saudi Arabia. A purposive sampling technique was employed to recruit 187 managers in different positions representing the desired range of demographic characteristics (e.g. gender, age, nationality, and job position). This research showed that CSR dimensions (vision and workplace) had a positive effect on brand image of the private hospitals on one hand. On the other hand, other dimensions (community relations, marketplace and accountability) had a negative effect on brand image. The paper contributes to previous research by adding to existing knowledge regarding CSR and brand image of the hospitals. The paper makes key recommendations towards adoption of CSR among hospitals.</p>

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