| Article Details : |
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| | | Article Name : | | | An econometric analysis of the determinants of the
exchange rate in Pakistan | | Author Name : | | | ARSHAD ULLAH JADOON, YANGDA GUANG, SALMAN KHAN, HAIFA KAZOUZ | | Publisher : | | | Bridge Center | | Article URL : |  | | | Abstract : | | | The study investigated the determinants of the exchange rate in
Pakistan by using annual time series data from 1970 to 2016. The
main objective of the study was to examine quantitatively the
relationship between the exchange rate, Inflation, real interest rate and
GDP of Pakistan Data stationarity checked by ADF and PP unit root
test before applying ARDL model. Cointegration results indicate that a
long-run relationship exists among the dependent and independent
variables. Results of long-run ARDL model indicate that GDP and real
interest rate have a negative and statistically significant effect on
exchange in Pakistan while the inflation rate has a significant positive
effect on the exchange rate. This study has policy implications for
government as well as for local and foreign investors. The government
should also play an important role to make such strategies which can
increase the trade in Pakistan and can boost the economic growth of
Pakistan indirectly. | | Keywords : | | | Exchange rate, GDP, Inflation, Interest rate, ARDL |
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