Analysis of Macroeconomic Determinants of Peruvian Gold Export Value in the Period 2003-2019
Carlos Alberto Tovar Jaco,
Madeleyne Karol Mucha Alhuay,
Pedro Bernabe Venegas Rodriguez,
Nivardo Alonzo Santill¨¢n Zapata and
Jimmy Alberth Deza Quispe
International Journal of Financial Research, 2021, vol. 12, issue 2, 43-54
The current research examined the macroeconomic determinants of Peruvian gold exports in the period 2003-2019 as well as their relative importance. Regressors employed were inflation, exchange rate, international rate, interest rate and Swiss gross domestic product. Ordinary Least Square along with R^2 decomposition and standardized coefficients were employed. The research found positive effects of inflation and international gold price on the dependent variable; while, Swiss gross domestic product was found to have a negative effect to Peruvian gold export. By the usage of R^2 decomposition and standardized coefficients it was found that international gold price is the most relevant regressor when explaining Peruvian gold export values.
Keywords: gold export; R2 decomposition; inflation; international gold price (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:jfr:ijfr11:v:12:y:2021:i:2:p:43-54
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