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Analysis of Macroeconomic Determinants of Peruvian Gold Export Value in the Period 2003-2019

Author

Listed:
  • Carlos Alberto Tovar Jaco
  • Madeleyne Karol Mucha Alhuay
  • Pedro Bernabe Venegas Rodriguez
  • Nivardo Alonzo Santill¨¢n Zapata
  • Jimmy Alberth Deza Quispe

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.

Suggested Citation

  • Carlos Alberto Tovar Jaco & Madeleyne Karol Mucha Alhuay & Pedro Bernabe Venegas Rodriguez & Nivardo Alonzo Santill¨¢n Zapata & Jimmy Alberth Deza Quispe, 2021. "Analysis of Macroeconomic Determinants of Peruvian Gold Export Value in the Period 2003-2019," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 12(2), pages 43-54, April.
    • Handle: RePEc:jfr:ijfr11:v:12:y:2021:i:2:p:43-54
    DOI: 10.5430/ijfr.v12n2p43
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    References listed on IDEAS

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    More about this item

    Keywords

    gold export; R2 decomposition; inflation; international gold price;
    All these keywords.

    JEL classification:

    • R2 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis

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