Global Economy and the Australian Dollar
Mehdi Monadjemi and
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Mehdi Monadjemi: University of New South Wales, Australia
John Lodewijks: University of New South Wales, Australia; S P Jain School of Global Management
Expert Journal of Economics, 2017, vol. 5, issue 2, 47-52
The Australian dollar is known as a commodity currency because it is sensitive to fluctuations of commodity prices. Although the structure of Australian production has historically moved from the primary commodities to manufacturing and services, market expectations of the currency are still strongly influenced by the variation of the commodities’ prices. Recent evidence show that the Australian dollar has fluctuated in response to the growth of the Chinese economy. The empirical results from this study show that commodity prices as represented by oil price changes and the growth of China’s economy are the most important variable influencing the Australian currency.
Keywords: Australian dollar; world growth rate; China’s growth rate; oil prices; commodity prices (search for similar items in EconPapers)
JEL-codes: E41 E44 F31 F41 F43 Q41 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:exp:econcs:v:5:y:2017:i:2:p:47-52
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