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Quarterly Journal of Econometrics Research

June 2015, Volume 1, 2, pp 23-31

Role of Foreign Investment and External Debt in Determination of Exchange Rate

Abdul Basit

,

Ishaque Ahmed Ansari

Abdul Basit 1 ,

Ishaque Ahmed Ansari 1 
  1. Statistics & DWH Department State Bank of Pakistan, Pakistan 1

Pages: 23-31

DOI: 10.18488/journal.88/2015.1.2/88.1.23.31

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Abstract:

The purpose of study is to observe importance and impact of the external debt and foreign investment in exchange rate of Pakistan. Ordinary Least Square and Exact Maximum Likelihood methods have been used for estimating the models. Cost of foreign debt ha
Contribution/ Originality
This study is one of very few studies which have investigated the relationship between the inflow/outflow of foreign currencies and the exchange rate.

Keywords:


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Reference:

  1. Agene, C.E., 1991. Foreign exchange and international trade in Nigeria. Lagos Gene Publications.
  2. Asma, A., 2011. The impact of exchange rate, fiscal deficit and terms of trade on external debt of Pakistan. Australian Journal of Business and Management Research, 1(3): 10-24.
  3. Bilquees, F., 2003. An analysis of budget deficits, debt accumulation, and debt instability. The Pakistan Development Review, 42(3): 177-195.
  4. Bruce, A.B., 1997. Firm-specific assets and the link between exchange rates and foreign direct investment. The American Economic Review, 87(3): 447- 465.
  5. Chinedu, B.E. and I.M. Michael, 2006. Exchange rate determination, foreign investment burden and external debt crisis in less-developed countries. International Journal of Business and Economics Perspectives, 1(1): 1-15.
  6. Donneil, C., 2010. Exchange rate movements and the stock of foreign currency denominated government debt. 2nd Annual Monetary Studies Conference Financial Stability, Crisis Preparedness and Risk Management in the Caribbean, Trinidad and Tobago, 9th -12th November 2010.
  7. Flood, P.R. and A.K. Rose, 1995. Fixing exchange rates, a virtual quest for fundamentals. Journal of Monetary Economics, 36(1): 3-37.
  8. Hasan, P., 1999. Pakistans debt problemIts changing nature and growing gravity. The Pakistan Development Review, 38(4): 435-447.
  9. Ishfaq, M. and M.A. Chaudhary, 1999. Fiscal deficit and debt dimensions of Pakistan. The Pakistan Development Review, 384(2): 1067-1108.
  10. Kemal, A.R., 2001. Debt accumulation and its implications for growth and poverty. The Pakistan Development Review, 40(4): 263-281.
  11. Mohey-ud-Din, G., 2005. Impact of foreign aid on economic development in Pakistan (1960-2000). Munich Personal RePEC Archive (MPRA)
  12. Ndikumana, L. and K.B. James, 2003. Public debts and public assets: Explaining capital flight from Sub-Saharan African countries. World Development, 31(1): 107-130.
  13. Shabana, P., 2012. Analysis of the factors affecting exchange rate variability in Pakistan. Academic Research International, 2(3): 670-674.
  14. Shamshad, B., 2009. Impact of foreign direct investment in Pakistan. Conference Publication, Information and Financial Engineering. ICIFE 2009. Singapore.
  15. Zahang, K.H., 2001. Does foreign direct investment promote economic growth? Evidence from East Asia and Latin America. Contemporary Economic Policy, 19(2): 175-185.

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