EXCHANGE RATE PASS-THROUGH INTO IMPORT PRICES: EVIDENCE FROM CENTRAL ASIA

Gulnara MOLDASHEVA

Makale detayları

EXCHANGE RATE PASS-THROUGH INTO IMPORT PRICES: EVIDENCE FROM CENTRAL ASIA

Yazarlar:

Gulnara MOLDASHEVA

Yayıncı:

Sosyal Bilimler Araştırmaları Derneği

Dergi:

International Journal of Economics and Finance Studies 2013 Vol.5 Issue 1, pp.157-167

Belge Tipi:

Makale

Yayın Tarihi:

5/2013

Belge Dili:

Türkçe

Document ID (Org No.):

2000810981

Sıklık:

İki Yıllık

eISSN:

1309-8055

Özet:

 

This paper estimates the degree of exchange rate pass-through (ERPT) into
 import prices for Central Asia countries over period 1995q11-2012q11 years.
 The additional study was done for Kazakhstan to determine the impact of
 money regulating policy into short-run and long-run ERPT. The study of
 ERPT was done by employing cointegration analysis across five central Asia
 countries: Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan.
 The paper analyzes three opportunities of the transmission of the export cost
 into ERPT using production price indices (PPI) of three major trading partners
 of Central Asia countries: PPI of Russia, PPI of Turkey and PPI of China.
 In case with PPI of Russia the results showed, that ERPT is extended beyond
 of 1 for Kazakhstan and Kyrgyzstan. Incomplete ERPT is indicated for
 Tajikistan and Turkmenistan, and zero ERPT is indicated for Uzbekistan. In
 case with PPI of Turkey, the elasticities of extent ERPT into import prices are
 more higher then in case with PPI of Russia, and elasticities for all Central
 Asia countries are negative and significant. In case with PPI of China,
 incomplete ERPT is indicated for all Central Asia countries, except the
 Kyrgyzstan, which has extended ERPT. In all cases this study showed the
 significance of ERPT, except only two cases for Kazakhstan and Tajikistan
 with PPI of China. Also interesting, those elasticities of ERPT with PPI of
 China are lower comparing with other cases. In the special study of money
 regulation policy only for Kazakhstan the short-run and long-run elasticities of
 ERPT are incomplete with PPI of Russia and PPI of Turkey, and they are
 extended with PPI of China.

Makale detayları

EXCHANGE RATE PASS-THROUGH INTO IMPORT PRICES: EVIDENCE FROM CENTRAL ASIA

Yazarlar: Gulnara MOLDASHEVA

Yayıncı: Sosyal Bilimler Araştırmaları Derneği

Dergi: International Journal of Economics and Finance Studies 2013 Vol.5 Issue 1, pp.157-167

Belge Tipi: Makale

Yayın Tarihi: 5/2013

Belge Dili: Türkçe

Document ID (Org No.): 2000810981

Sıklık: İki Yıllık

eISSN: 1309-8055

Sayı

Yazarlar:

Gulnara MOLDASHEVA

Yayıncı:

Sosyal Bilimler Araştırmaları Derneği

Dergi:

International Journal of Economics and Finance Studies 2013 Vol.5 Issue 1, pp.157-167

Belge Tipi:

Makale

Yayın Tarihi:

5/2013

Belge Dili:

Türkçe

Document ID (Org No.):

2000810981

Sıklık:

İki Yıllık

eISSN:

1309-8055