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2014 | 7 | nr 3 | 104-115
Tytuł artykułu

The Impact of External Debt on Exchange Rate Variation in Romania

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Języki publikacji
Through this paper we aim to identify the existence or non-existence of a link between Romania's external debt components on medium and long term and the evolution of RON/EUR exchange rate. If a correlation will be identified, the paper aims to guantify numerical that correlation for selecting several determinants of the exchange rate. The paper check if external debt components may allow econometric modeling of exchange rate RON/EUR by using regression. (original abstract)
Opis fizyczny
  • Lucian Blaga University, Sibiu, Romania
  • Auboin, M., Ruta, M. (2011), The relationship between exchange rates and international trade: a review of economic literature, World Trade Organization, Economic Research and Statistics Division, Staff Working Paper, No. 17.
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  • Chatterjee, S., Mursagulov, A. (2012), Fiscal Policy and the Real Exchange Rate, IMF Working Paper, No. 52.
  • Dimitrova, D. (2005), The Relationship between Exchange Rates and Stock Prices: Studied in a Multivariate Model, Issues in Political Economy, Vol. 14.
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  • Hamrita, M. E., Trifi, A. (2011), The Relationship between Interest Rate, Exchange Rate and Stock Price: A Wavelet Analysis, International Journal of Economics and Financial Issues, Vol. 1, No. 4, pp. 220-228.
  • International Monetary Fund (2003), External Debt Statistics: Guide for Compilers and Users, p. 7,
  • MacDonald, R. (2007), Exchange Rate Economics -Theories and evidence, Routledge Publishing House.
  • Nucu, A. E. (2011), The Relationship between Exchange Rate and Key Macroeconomic Indicators. Case Study: Romania, The Romanian Economic Journal, No. 41, pp. 127-145.
  • National Bank of Romania (January 2014), Press Release on Balance of payments, Bucharest, available at:
  • Ozturk, I. (2006), Exchange Rate Volatility and Trade: A Literature Survey, International Journal of Applied Econometrics and Quantitative Studies, Vol. 3-1.
  • Rapetti, M., Skott, P., Razmi, A. (2011), The Real Exchange Rate and Economic Growth: Are Developing Countries Different? University of Massachusetts Working Paper, p. 8.
  • Scotti, C., Benediktsdóttir, S. (2009), Exchange Rates Dependence: What Drives it?, International Finance Discussion Papers, No. 969.
  • Siok, K. S., Cheau, P. O., Mohd, T.I. (2012), Investigating the Relationship between Exchange Rate and Inflation Targeting, Applied Mathematical Sciences, Vol. 6, No. 32, pp. 1571-1583.
  • Taglioni, D. (2002), Exchange Rate Volatility as a Barrier to Trade: New Methodologies and Recent Evidences, Economie Internationale (CEPII), Quarter 1-2, pp. 227-259.
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