Cover Image

Dynamic interdependence of the Indonesian Rupiah with the ASEAN and the world largest Forex markets

This study empirically investigates the dynamic interdependencies of the Indonesian Rupiah (IDR) with the ASEAN, European, and Japanese forex markets. Using daily nominal exchange rates of Indonesia, Thailand, Malaysia, Singapore, the Philippines, Europe, and Japan spanning from January 1, 2008 to...

Full description

Saved in:
Bibliographic Details
Main Authors: M. Shabri Abd. Majid,, Hizir Sofyan,, Moh. Rizky Rahmanda,
Format: Article
Language:English
Published: Penerbit Universiti Kebangsaan Malaysia 2018
Online Access:http://journalarticle.ukm.my/19624/1/jeko_521-5.pdf
http://journalarticle.ukm.my/19624/
https://www.ukm.my/jem/issue/v52i1/
Tags: Add Tag
No Tags, Be the first to tag this record!
id my-ukm.journal.19624
record_format eprints
spelling my-ukm.journal.196242022-09-08T07:34:07Z http://journalarticle.ukm.my/19624/ Dynamic interdependence of the Indonesian Rupiah with the ASEAN and the world largest Forex markets M. Shabri Abd. Majid, Hizir Sofyan, Moh. Rizky Rahmanda, This study empirically investigates the dynamic interdependencies of the Indonesian Rupiah (IDR) with the ASEAN, European, and Japanese forex markets. Using daily nominal exchange rates of Indonesia, Thailand, Malaysia, Singapore, the Philippines, Europe, and Japan spanning from January 1, 2008 to December 31, 2015, the study employs the impulse response functions and variance decomposition analysis based on the vector autoregression method. The study documented that the IDR more responded to innovations in the forex market of Singapore as compared to other ASEAN forex markets. Additionally, the ASEAN forex markets were more interdependence with the forex markets of Japan rather than Europe. Since the forex markets become more interdependent both regionally and internationally, thus it needs for policy coordination among the countries to mitigate the impact of forex fluctuations if these countries are to grasp the benefits of greater forex markets’ interdependence. Penerbit Universiti Kebangsaan Malaysia 2018 Article PeerReviewed application/pdf en http://journalarticle.ukm.my/19624/1/jeko_521-5.pdf M. Shabri Abd. Majid, and Hizir Sofyan, and Moh. Rizky Rahmanda, (2018) Dynamic interdependence of the Indonesian Rupiah with the ASEAN and the world largest Forex markets. Jurnal Ekonomi Malaysia, 52 (1). pp. 57-66. ISSN 0127-1962 https://www.ukm.my/jem/issue/v52i1/
institution Universiti Kebangsaan Malaysia
building Tun Sri Lanang Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Kebangsaan Malaysia
content_source UKM Journal Article Repository
url_provider http://journalarticle.ukm.my/
language English
description This study empirically investigates the dynamic interdependencies of the Indonesian Rupiah (IDR) with the ASEAN, European, and Japanese forex markets. Using daily nominal exchange rates of Indonesia, Thailand, Malaysia, Singapore, the Philippines, Europe, and Japan spanning from January 1, 2008 to December 31, 2015, the study employs the impulse response functions and variance decomposition analysis based on the vector autoregression method. The study documented that the IDR more responded to innovations in the forex market of Singapore as compared to other ASEAN forex markets. Additionally, the ASEAN forex markets were more interdependence with the forex markets of Japan rather than Europe. Since the forex markets become more interdependent both regionally and internationally, thus it needs for policy coordination among the countries to mitigate the impact of forex fluctuations if these countries are to grasp the benefits of greater forex markets’ interdependence.
format Article
author M. Shabri Abd. Majid,
Hizir Sofyan,
Moh. Rizky Rahmanda,
spellingShingle M. Shabri Abd. Majid,
Hizir Sofyan,
Moh. Rizky Rahmanda,
Dynamic interdependence of the Indonesian Rupiah with the ASEAN and the world largest Forex markets
author_facet M. Shabri Abd. Majid,
Hizir Sofyan,
Moh. Rizky Rahmanda,
author_sort M. Shabri Abd. Majid,
title Dynamic interdependence of the Indonesian Rupiah with the ASEAN and the world largest Forex markets
title_short Dynamic interdependence of the Indonesian Rupiah with the ASEAN and the world largest Forex markets
title_full Dynamic interdependence of the Indonesian Rupiah with the ASEAN and the world largest Forex markets
title_fullStr Dynamic interdependence of the Indonesian Rupiah with the ASEAN and the world largest Forex markets
title_full_unstemmed Dynamic interdependence of the Indonesian Rupiah with the ASEAN and the world largest Forex markets
title_sort dynamic interdependence of the indonesian rupiah with the asean and the world largest forex markets
publisher Penerbit Universiti Kebangsaan Malaysia
publishDate 2018
url http://journalarticle.ukm.my/19624/1/jeko_521-5.pdf
http://journalarticle.ukm.my/19624/
https://www.ukm.my/jem/issue/v52i1/
_version_ 1744354627838541824
score 13.211869

Similar Items