Commerce - ވިޔަފާރިއާއި އިޤްތިޞާދު
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Item The effective exchange rates of rufiyaa(Maldives Monitory Authority, 2014) Adam, AzeemaItem Inflation dynamics in the Maldives : research and policy notes(Maldives Monetary Authority, 2014-06) Adam, Azeema; އަޒީމާ އާދަމްThe paper examines the factors that drive inflation in the Maldives, with a focus on the relationship between the exchange rate and inflation. Using cointegration and error correction techniques on monthly data from January 1990 to December 2010, the results show that the exchange rate pass through is extremely high in the long run. The long run analysis also demonstrated the neutrality of money in the sense that an increase in money supply leads to an almost proportionate increase in the price level over time. While some degree of price stickiness was found to exist in the short run, the results support the theory of absolute Purchasing Power Parity in the longer run.Item MMA research papers : volume 1 : number I, June 2014(Maldives Monetary Authority, 2014-06) Adam, Azeema; Hussain, Idham; Rashfa, Mariyam; Imad, AhmedThis paper attempts to analyse the changes in the seasonality of tourism activity caused by the surge in Chinese tourist arrivals; examine and identify the possible reasons why Chinese tourists spend a relatively shorter period in Maldives; and discuss the effects of this on the revenue earned from tourism. Simple analytical tools were used to study changes in tourist arrivals, seasonality and average stay over the past decade. The peak season for Chinese tourists in Maldives was identified as the first quarter and third quarter of the year, thus softening the high level of seasonality prevalent in the industry. Meanwhile, the cost of travel and the level of repeat visitors were found to influence the average stay of Chinese tourists in the case of Maldives as well. Finally, a strictly non-negative impact of a shorter average stay on tourism expenditure was found, although there is very little data on tourism expenditure in Maldives to come to any conclusionItem MMA research papers : volume 2 : number I, January 2016(Maldives Monetary Authority, 2016-01) Adam, Azeema; Hussain, Idham; Rashfa, Mariyam; Shafwath, Aminath; Sajny, AishathThis paper aims to evaluate the degree of dollarization in the Maldivian economy. Utilizing three measures identifi ed from the literature on the subject, dollarization ratios have been constructed to assess the degrees of deposit and credit dollarization, prevalent in the local economy. To this end, data on the currency composition of deposits held at and credit extended by the commercial banks in the Maldives from 1990 to November 2015 (obtained from the Maldives Monetary Authority), have been scrutinised to study dollarization trends over the 25 year period. Further, the paper will explore the causes and reasons for the high degree of dollarization, and posit explanations for the identifi ed trends.Item Research policy notes (RPN 1-15) : dollarization in the Maldives(Maldives Monetary Authority, 2015-12) Adam, Azeema; އަޒީމާ އާދަމްThis paper aims to evaluate the degree of dollarization in the Maldivian economy. Utilizing three measures identified from the literature on the subject, dollarization ratios have been constructed to assess the degrees of deposit and credit dollarization, prevalent in the local economy. To this end, data on the currency composition of deposits held at and credit extended by the commercial banks in the Maldives from 1990 to November 2015 (obtained from the Maldives Monetary Authority), have been scrutinised to study dollarization trends over the 25 year period. Further, the paper will explore the causes and reasons for the high degree of dollarization, and posit explanations for the identified trends.