Impacts of Oil Price on Exchange rate: Evidence from Iraq
DOI:
https://doi.org/10.47299/bsjmm.v2i3.80Keywords:
Oil Price, Iraqy Dinar, Exchange Rate, Domestic Currency, Iraq, KurdistanAbstract
This research is about of oil price fluctuations on Iraq's economic performance is the subject of this research paper. This economic effect on defined economic variables is quantified using a simple Ordinary Least Squares (ARDL) model. Iraq's actual Gross Domestic Product (GDP) is linked to the economic model GDP in relation to crude oil prices (West Texas Intermediate "WTI" crude, the US benchmark for oil pricing). Iraqi-American dialogue to account for the value of Iraq's exports in terms of foreign currency, especially the US dollar, a rate was included in the model as an independent variable. To account for the years of political unrest, a dummy variable was developed. Was included as well. The elasticity of the economic variables used in the study is considered to be statistically important. Lagged GDP elasticity, oil price elasticity, and exchange rate
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