NDLI: China's Impact on Mongolian Exchange Rate

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China's Impact on Mongolian Exchange Rate

Content Provider	Scilit
Author	Batai, Alimaa Chu, Amanda Lv, Zhihui Wong, Wing-Keung
Copyright Year	2018
Description	Journal: Ssrn Electronic Journal This paper studies the factors that maintain a long-run equilibrium, short-run impact, and causality with the exchange rate of Mongolia over China to shed light on exchange rate determination. Our cointegration analysis shows that in the long run the gross domestic products (GDP) of China and the index of world price have significantly positive effects while Mongolia’s GDP and the Shanghai stock index have significantly negative effects on Mongolian exchange rate. We reveal existence of the short run dynamic interaction and strongly significant multivariate linear and nonlinear causality from all the explanatory variables to Mongolian exchange rate. In addition, we observe that there is strong linear causality from each of GDPs of Mongolia and China and the index of world price to Mongolian exchange rate, but not from the index of world price. Moreover, there is strongly significant nonlinear causality from the Shanghai stock index to Mongolian exchange rate, and weakly significant nonlinear causalities from both GDP of China and the index of world price to Mongolian exchange rate but not from Mongolia’s GDP. Our findings are useful to investors, manufacturers, and traders for their investment decision making, and policy makers for their decisions on both monetary and fiscal policies that could affect Mongolian exchange rate.
Related Links	https://www.abacademies.org/articles/chinas-impact-on-mongolian-exchange-rate-1532-5806-20-SI-105.pdf https://papers.ssrn.com/sol3/Delivery.cfm?abstractid=3113165
ISSN	10914358
e-ISSN	15565068
DOI	10.2139/ssrn.3113165
Journal	Ssrn Electronic Journal
Language	English
Publisher	Elsevier BV
Publisher Date	2018-01-30
Access Restriction	Open
Subject Keyword	Journal: Ssrn Electronic Journal World Price Index Nonlinear Causality
Content Type	Text
Resource Type	Article
Subject	Public Health, Environmental and Occupational Health Psychiatry and Mental Health

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