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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

Abstract: 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)
Date: 2021
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DOI: 10.5430/ijfr.v12n2p43

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Handle: RePEc:jfr:ijfr11:v:12:y:2021:i:2:p:43-54