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1 – 10 of 388Mesbah Fathy Sharaf and Abdelhalem Mahmoud Shahen
This paper investigates the asymmetric impact of the real effective exchange rate (REER) on Egypt's real domestic output from 1960 to 2020.
Abstract
Purpose
This paper investigates the asymmetric impact of the real effective exchange rate (REER) on Egypt's real domestic output from 1960 to 2020.
Design/methodology/approach
A Nonlinear Autoregressive Distributed Lag (NARDL) model is utilized to isolate real currency depreciations from appreciations and account for the potential asymmetry in the impact of the REER. The analyses account for the various channels via which the REER could affect domestic output.
Findings
Results show evidence of a long-run asymmetry in the output effect of REER changes in which only real currency depreciations have a contractionary impact on output, while the REER has no impact on output in the short run.
Practical implications
The Egyptian monetary authority cannot rely on domestic currency depreciation as a policy instrument to boost domestic output.
Originality/value
Unlike most of the previous studies, which assume linearity in the impact of the REER on output, we relax this assumption and hypothesize that the REER changes have an asymmetric effect on the Egyptian domestic output in Egypt. We use a long time span from 1960 to 2020 and control for the potential structural breaks in the REER-output nexus and the various channels through which the REER can affect domestic output.
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The Center for Women’s Business Research estimates women are now the majority owners in 6.7 million privately held businesses in the United States and equal owners in another 4.0…
Abstract
The Center for Women’s Business Research estimates women are now the majority owners in 6.7 million privately held businesses in the United States and equal owners in another 4.0 million firms. When part owners in multiple businesses are included the female ownership total climbs to an estimated 15.6 million businesses. Women majority owners account for nearly half (48 per cent) of the privately‐held firms in the United States. Their businesses generate $2.46 trillion in sales. They employ 19.1 million people and spend an estimated $492 billion on salaries and $54 billion on employee benefits. The number of women‐owned firms increases at twice the rate of all new firms (14 per cent versus 7 per cent) and the number of employees nearly as fast (30 per cent versus 18 per cent). Women owners are rapidly moving into all industries, with the fastest growth percentages in the fields of construction (30 per cent), transportation, communications and public utilities (28 per cent) and agricultural services (24 per cent). Worldwide, with women entrepreneurs in under developed countries leading the way, women‐owned firms now comprise between one‐fourth and one‐third of all businesses. Given the numbers, it would be almost impossible to overestimate the impact of women owned businesses in today’s global economy.
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The purpose of this paper is to evaluate and analyze impacts of the monetary policy (MP) – money aggregate and interest rate – on the exchange rate in Vietnam.
Abstract
Purpose
The purpose of this paper is to evaluate and analyze impacts of the monetary policy (MP) – money aggregate and interest rate – on the exchange rate in Vietnam.
Design/methodology/approach
The study uses data over the period of 2008–2018 and applies the vector autoregression model, namely recursive restriction and sign restriction approaches.
Findings
The main empirical findings are as follows: a contraction of the money aggregate significantly leads to the real effective exchange rate (REER) depreciating and then appreciating; a tightening of the interest rate immediately causes the REER appreciating and then depreciating; and both the money aggregate and the interest rate strongly determine fluctuations of the REER.
Originality/value
The quantitative results imply that the MP affects the REER considerably.
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Khee Giap Tan, Sasidaran Gopalan and Jigyasa Sharma
The purpose of this paper is to examine the impact of real effective exchange rates (REER), both in terms of levels and volatility, on the export performance of India’s…
Abstract
Purpose
The purpose of this paper is to examine the impact of real effective exchange rates (REER), both in terms of levels and volatility, on the export performance of India’s sub-national economies, given the recent slowdown in India’s exports.
Design/methodology/approach
India’s export distribution is highly asymmetric, with 90 percent of India’s exports concentrated in 11 sub-national economies. Exploiting this concentration, this paper constructs a panel data set using available data between 2002 and 2014 to understand the relationship between REER and exports from the top exporting cluster. Moreover, the paper constructs a sub-national competitiveness index to capture the supply capacity of the states.
Findings
The empirical findings of this paper reveal that a higher REER volatility deters exports and movements in REER do not matter as much as volatility. The most significant finding of the paper is that state competitiveness is the most crucial factor affecting trade. Therefore, policy makers at the state level must lay more emphasis on the supply side such as addressing logistical bottlenecks to help revive exports growth.
Originality/value
This study makes a departure from the plethora of extant aggregate-level studies by examining the relationship between REER and exports at the sub-national level for India. Considering the highly skewed distribution of India’s exports, the study provides important insights into the exporting patterns and determinants that are at play at the sub-national level.
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Sunday Samson Babalola and David E. Okurame
The study examined gender differences in careerist attitudes toward work of Nigerian managers. Participants were 150 first‐line managers (75 males and 75 females) of four large…
Abstract
The study examined gender differences in careerist attitudes toward work of Nigerian managers. Participants were 150 first‐line managers (75 males and 75 females) of four large industrial organisations in Lagos, Nigeria. Results revealed that male managers were significantly higher on careerist attitudes toward work compared to female managers. Independent t‐test analysis showed that marital status significantly in fluenced careerist attitudes toward work among women but did not play a significant role in the career istattitudes to ward work of men. The study concludes that gender enhances the use of careerist strategies in men but inhibits it in women. The implication of this finding for policy formulation and future studies were discussed.
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Kecia M. Thomas, Laura Bierema and Harriet Landau
Women are underrepresented in the leadership ranks across society. Research and the development of strategies to assist corporate women in breaking the glass ceiling is frequent…
Abstract
Women are underrepresented in the leadership ranks across society. Research and the development of strategies to assist corporate women in breaking the glass ceiling is frequent and ongoing. Less prevalent has been a similar exploration of the barriers that women in academe confront in regards to their upward mobility and subsequent leadership. This article analyzes how academic women experience the glass ceiling, how research done on corporate women can inform much needed study of barriers to academic women’s upward mobility, and finally, how human resource development practices may benefit advancing women’s leadership in higher education.
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Mulatu Fekadu Zerihun, Martinus C. Breitenbach and Francis Kemegue
This paper explores the possibilities for policy coordination in the Southern African Development Community (SADC) as well as real effective exchange rate (REER) stability as a…
Abstract
Purpose
This paper explores the possibilities for policy coordination in the Southern African Development Community (SADC) as well as real effective exchange rate (REER) stability as a prerequisite towards sensible monetary integration. The underlying hypothesis goes with the assertion that countries meeting optimum currency area conditions face more stable exchange rates.
Design/methodology/approach
The quantitative analysis encompasses 12 SADC member states over the period 1995-2012. Correlation matrixes, dynamic pooled mean group (PMG) and mean group (MG) estimators and real effective exchange rate (REER) and real exchange rate (RER) equilibrium and misalignment analysis are carried out to arrive at the conclusions.
Findings
The study finds that the structural variables used in the PMG model show that there are common fiscal and monetary policy variables that determine REER/RER in the region. However, the exchange rate equilibrium misalignment analysis reveals that SADC economies are characterised by persistent overvaluation at least in the short term. This calls for further sustained policy coordination in the region.
Practical implications
The findings in this paper have important policy implications for economic stability and for the attempt of policy coordination in SADC region for the proposed monetary integration to proceed.
Originality/value
This study is the first attempt that relates the exchange rate as a policy coordination instrument among SADC economies.
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Abdalrahman AbuDalu and Elsadig Musa Ahmed
The purpose of this paper is to present an empirical analysis of long-run and short-run forcing variables of purchasing power parity (PPP) for ASEAN-5 currencies vis-à-vis the UK…
Abstract
Purpose
The purpose of this paper is to present an empirical analysis of long-run and short-run forcing variables of purchasing power parity (PPP) for ASEAN-5 currencies vis-à-vis the UK pound, i.e. their real effective exchange rate (REER).
Design/methodology/approach
This study uses a recently developed autoregressive distributed lag (ARDL) approach to co-integration (Pesaran et al., 2001) over the period 1991:Q1-2006:Q2. Our empirical results suggest that the foreign interest rate (R*) and domestic money supply (M1) are the significant long-run forcing variables of PPP for ASEAN-5 REERs for the three periods.
Findings
In the short-run, the variables have different impacts during the sub-periods and full period for ASEAN-5 countries. The results suggest that the domestic money supply (M1) for Malaysia, domestic interest rate and foreign interest rate (R*) for Indonesia, domestic money supply (M1) and term of trades (TOT) for Philippines, foreign interest rate (R*) for Thailand, and foreign interest rate (R*) and net foreign assets (NFA) for Singapore, respectively, have the highest significant short-run forcing variable of PPP for countries REERs.
Originality/value
In this respect, the outcomes can derive policy implication for the monetary authorities in these ASEAN-5 countries.
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This article draws on longitudinal research into the establishment of co‐principalships. It discusses this innovative approach to school management in relation to women’s…
Abstract
This article draws on longitudinal research into the establishment of co‐principalships. It discusses this innovative approach to school management in relation to women’s negotiations of their motivations, aspirations and strategies for career advancement and work/life balance. Longitudinal case studies of three primary school co‐principal initiatives were carried out between 1995 and 2000. Repeat interviews and observations with co‐principals, board chairpersons and school staff were conducted. Interviews were also undertaken with parents; students; and representatives of state education agencies, national governing boards, principals’ associations and teacher unions, alongside analysis of school and state policy documents. The resulting case study narratives described how each co‐principalship was initiated and either established or dis‐established. A discourse analysis of these narratives then examined how links between discourse, knowledge and power were being negotiated and challenged, as the new subject position of “co‐principal” was being constructed in New Zealand. This article analyses the significance of the similarities and differences in the women’s career backgrounds, motivations and strategies for moving into management positions. As they initiated their co‐principalships, the women variously went “against the grain” and/or co‐opted elements of the new public management corporate executive model for school leadership, which was introduced within the radical state restructuring during the late 1980s and early 90s in New Zealand.
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Sidi Mohammed Chekouri, Abdelkader Sahed and Abderrahim Chibi
This paper aims to examine the relationship between exchange rate and oil prices in Algeria over the period 2004Q1–2019Q4.
Abstract
Purpose
This paper aims to examine the relationship between exchange rate and oil prices in Algeria over the period 2004Q1–2019Q4.
Design/methodology/approach
The nonlinear autoregressive distributed lag method is used to capture the potential asymmetric relationship among oil prices and the exchange rate. Frequency domain spectral Granger causality test is also applied to investigate the causal linkage between the two variables. The wavelet coherence is applied to analyze the evolution of this relationship both in time and frequency domains.
Findings
The empirical results reveal evidence of long-run asymmetric effects of oil price on Algeria’s real effective exchange rate (REER), implying that an increase in oil price causes a real exchange rate to appreciate, while a decrease in oil price leads to a real exchange rate to depreciate. More specifically, it is found that the impact of negative oil price shocks is higher than the one associated with positive shocks. The spectral Granger causality results further indicate that there is unidirectional causality running from oil price to REER in both medium and long run. The wavelet coherence findings provide evidence of some co-movement between the REER and oil price and point out that the oil price is leading real exchange rate in the medium and long terms.
Originality/value
This study contributes to the literature by investigating the asymmetric impact and the time domain causal linkage between oil price fluctuations and real exchange rate in Algeria.
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