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Terms-of-Trade Volatility and Inflation in Pakistan

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Title: Terms-of-Trade Volatility and Inflation in Pakistan

Authors: Kiran Ijaz, Muhammad Zakaria, Bashir A. Fida

Journal: Lahore Journal of Economics

HEC Recognition History
Category From To
Y 2024-10-01 2025-12-31
Y 2023-07-01 2024-09-30
Y 2022-07-01 2023-06-30
Y 2021-07-01 2022-06-30
Y 2020-07-01 2021-06-30
Y 1900-01-01 2005-06-30

Publisher: Lahore School of Economics, Lahore

Country: Pakistan

Year: 2014

Volume: 19

Issue: 1

Language: English

DOI: https://doi.org/10.35536/lje.2014.v19.i1.a5

Categories
Terms of Trade (4) Inflation (114) Pakistan (3978) Economics (27414)

Abstract

This empirical study examines the effects of terms-of-trade (TOT) volatility on inflation in Pakistan, using annual data for the period 1972 to 2012. The results show that TOT volatility has a significant negative effect on inflation in Pakistan. This result is robust to alternative equation specifications and TOT volatility measures. Output growth has a negative effect on inflation while foreign export prices have a positive effect on inflation. Both the depreciation of the nominal exchange rate and money supply increase the inflation rate. The fiscal deficit and world oil prices are also found to increase domestic inflation.

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