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AuthorMrabet Z.
AuthorAlsamara M.
Available date2019-10-17T07:44:38Z
Publication Date2018
Publication NameJournal of International Trade and Economic Development
ISSN9638199
URIhttp://dx.doi.org/10.1080/09638199.2017.1389974
URIhttp://hdl.handle.net/10576/12170
AbstractThis paper investigates the impact of parallel market exchange rate volatility and trade on real GDP and real GDP growth in the Syrian economy over the period of 1990Q1–2010Q4. To this end, we first construct a parallel market exchange rate volatility indicator. Second, we estimate an autoregressive distributed lag (ARDL) model where we include our indicator of volatility among the main determinants of real GDP. Our findings imply that real GDP can be explained by three main variables: parallel market exchange rate, money supply, and oil exports. The long-run equilibrium reveals that parallel market exchange rate volatility has a negative impact on real GDP compared to the positive impact of money supply and oil exports. In contrast, the short-run impact of parallel market exchange rate volatility on real GDP growth is positive and very small counter to the long-run impact. Furthermore, the coefficient of the error correction term of the estimated ARDL model indicates that real GDP deviation from the equilibrium level will be corrected by about 10% after each quarter.
Languageen
PublisherRoutledge
dc.source Scopus
SubjectARDL model
SubjectExchange rate volatility
Subjectoil exports
Subjectreal economic growth
TitleThe impact of parallel market exchange rate volatility and oil exports on real GDP in Syria: Evidence from the ARDL approach
TypeArticle
Pagination333-349
Issue Number3
Volume Number27


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