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https://doi.org/10.1080/1331677X.2019.1653213

An analysis of the asymmetric impact of exchange rate changes on G.D.P. in Pakistan: application of non-linear A.R.D.L.

Ibrar Hussain ; Department of Economics, University of Malakand, Pakistan
Jawad Hussain ; Department of Commerce and Management Sciences, University of Malakand, Pakistan
Arshad Ali Khan ; Institute of Business and Leadership, Abdul Wali Khan University Mardan, Pakistan
Yahya Khan ; Faculty of Economics, University of Miskolc, Hungary

Puni tekst: engleski, pdf (2 MB) str. 3094-3111 preuzimanja: 63* citiraj
APA 6th Edition
Hussain, I., Hussain, J., Ali Khan, A. i Khan, Y. (2019). An analysis of the asymmetric impact of exchange rate changes on G.D.P. in Pakistan: application of non-linear A.R.D.L.. Economic research - Ekonomska istraživanja, 32 (1), 3094-3111. https://doi.org/10.1080/1331677X.2019.1653213
MLA 8th Edition
Hussain, Ibrar, et al. "An analysis of the asymmetric impact of exchange rate changes on G.D.P. in Pakistan: application of non-linear A.R.D.L.." Economic research - Ekonomska istraživanja, vol. 32, br. 1, 2019, str. 3094-3111. https://doi.org/10.1080/1331677X.2019.1653213. Citirano 03.04.2020.
Chicago 17th Edition
Hussain, Ibrar, Jawad Hussain, Arshad Ali Khan i Yahya Khan. "An analysis of the asymmetric impact of exchange rate changes on G.D.P. in Pakistan: application of non-linear A.R.D.L.." Economic research - Ekonomska istraživanja 32, br. 1 (2019): 3094-3111. https://doi.org/10.1080/1331677X.2019.1653213
Harvard
Hussain, I., et al. (2019). 'An analysis of the asymmetric impact of exchange rate changes on G.D.P. in Pakistan: application of non-linear A.R.D.L.', Economic research - Ekonomska istraživanja, 32(1), str. 3094-3111. https://doi.org/10.1080/1331677X.2019.1653213
Vancouver
Hussain I, Hussain J, Ali Khan A, Khan Y. An analysis of the asymmetric impact of exchange rate changes on G.D.P. in Pakistan: application of non-linear A.R.D.L.. Economic research - Ekonomska istraživanja [Internet]. 2019 [pristupljeno 03.04.2020.];32(1):3094-3111. https://doi.org/10.1080/1331677X.2019.1653213
IEEE
I. Hussain, J. Hussain, A. Ali Khan i Y. Khan, "An analysis of the asymmetric impact of exchange rate changes on G.D.P. in Pakistan: application of non-linear A.R.D.L.", Economic research - Ekonomska istraživanja, vol.32, br. 1, str. 3094-3111, 2019. [Online]. https://doi.org/10.1080/1331677X.2019.1653213

Sažetak
Exchange rate fluctuations play a vital role in influencing macro- economic variables including economic growth via the channels of net exports and investments. This study claims to be the first in assessing the asymmetric effect of exchange rate fluctuations on G.D.P. in Pakistan whose currency had the title of‘worst currency of South Asia’in 2018 after more than 20% depreciation in just three months. In this study, we employ a recently developed technique of Non-linear A.R.D.L. by Shin, Yu, and Greenwood-Nimmo (2014) to test for possible asymmetric effect of exchange rate on G.D.P. along with the proxies of fiscal and monetary policies. Both A.R.D.L. and N.A.R.D.L. are applied on annual data range from 1972 to 2014. The results of A.R.D.L. are found poor and co-integration relationship lost when the assumption of symmetry is taken into consideration. On the contrary, Non-linear A.R.D.L. technique carry more rich information related to the issue at hand and co-integration relationship is confirmed. From the results we found that week currency hurts G.D.P. growth, while strong currency adds to growth. Besides these, we confirm asymmetric impact of exchange rate on G.D.P. growth in Pakistan and find the evidence of short-run, long-run and adjustment asymmetry. To achieve the objective of sustained growth, exchange rate management should focus to restore stability and go for more strong currency in Pakistan. Future research needs to consider capital flows and exchange rate regimes in the form of‘Sudden Stop hypothesis’ when investigating the asymmetric impact of exchange rate.

Ključne riječi
exchange rate; G.D.P.; N.A.R.D.L

Hrčak ID: 229630

URI
https://hrcak.srce.hr/229630

Posjeta: 113 *