Modeling the asymmetric effects of exchange rate, financial development, and oil prices on economic growth

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dc.contributor.authorAppiah, Michael
dc.contributor.authorGyamfi, Bright Akwasi
dc.contributor.authorUsman, Ojonugwa
dc.contributor.authorBekun, Festus Victor
dc.date.accessioned2024-03-27T09:39:16Z
dc.date.available2024-03-27T09:39:16Z
dc.date.issued2024en_US
dc.departmentFakülteler, İşletme Fakültesi, İktisat Bölümüen_US
dc.description.abstractRecent studies on the relationship between exchange rates, oil prices, and economic growth in developing countries like Ghana have used linear methods, but do not account for potential asymmetries. This research investigates the intricate asymmetric effects of exchange rates, financial development, and oil prices on Ghana's growth from 1990-2017 using a nonlinear model. The findings indicate that global oil price has asymmetric effects on short- and long-term growth, with positive price changes having different impacts than negative changes. However, there is no evidence for asymmetric long-term effects of exchange rates and financial development on growth, only short-term asymmetries. The cumulative effects of exchange rates and financial development outweigh oil prices. Recommendations include modernizing fuel efficiency, investing in renewable energy and public transit to address oil price shocks, and increasing market transparency and collaboration between major consumer and producer countries. The nonlinear model provides an evidence-based analysis of the intricate asymmetric relationships between these factors and developing country growth.en_US
dc.identifier.doi10.1142/S0217590823500595en_US
dc.identifier.scopus2-s2.0-85181129365en_US
dc.identifier.scopusqualityN/Aen_US
dc.identifier.urihttps://hdl.handle.net/11467/7204
dc.identifier.urihttps://doi.org/10.1142/S0217590823500595
dc.identifier.wosWOS:001137520000003en_US
dc.identifier.wosqualityN/Aen_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherWorld Scientificen_US
dc.relation.ispartofSingapore Economic Reviewen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectExchange rate; financial development; oil prices; growth; asymmetries; NARDLen_US
dc.titleModeling the asymmetric effects of exchange rate, financial development, and oil prices on economic growthen_US
dc.typeArticleen_US

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