An emprical investigation into the relationship between exchange rate volatility and economic growth in Liberia (1980 TO 2012)

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dc.contributor.authorCassell I, Varney A.
dc.date.accessioned2016-05-08T14:01:06Z
dc.date.available2016-05-08T14:01:06Z
dc.date.issued2016
dc.descriptionA thesis submitted in partial fulfilment of the requirements for the Degree of Master of Science in Economicsen_US
dc.description.abstractThis study investigated the relationship between the exchange rate volatility and economic growth in Liberia from 1980 to 2012. Empirical literature shows conflicting results. The study used the generalised autoregressive conditional heteroskedasticity model to estimate volatility. The order of integration of the variables was tested and the variables were found not to have the same order of integration. The bounds test confirmed co-integration between GDP growth, exchange rate volatility, exports, imports and foreign direct investment. The Autoregresive distributed lag model was then used to estimate the short and long run dynamics. The study used the coefficients from the ARDL model to calculate the long-run multipliers. The multiplier effect shows that devaluation (depreciation) of the domestic currency increases the exchange rate by –0.02718 percent, while foreign direct investment increases at 0.007973 percent and h or volatility reduces at -0.01084 percent in economic growth. Finally, the Granger causality test showed bidirectional causality between the exchange rate volatility and exports, causality from economic growth to the real exchange rate volatilityen_US
dc.identifier.urihttp://hdl.handle.net/11070/1648
dc.language.isoenen_US
dc.publisherUniversity of Namibiaen_US
dc.subjectExchange rate volatilityen_US
dc.subjectEconomic growthen_US
dc.subjectLiberiaen_US
dc.subject.lcshForeign exchange, Liberia
dc.subject.lcshForeign exchange rates, Liberia
dc.subject.lcshForeign exchange market, Liberia
dc.subject.lcshForeign exchange, Research
dc.subject.lcshLiberia, Economic conditions, Research
dc.subject.lcshLiberia, Economic conditions
dc.titleAn emprical investigation into the relationship between exchange rate volatility and economic growth in Liberia (1980 TO 2012)en_US
dc.typeThesisen_US
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