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Factors affecting the disparity of Vietnamese gold prices and worldwide gold prices

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dc.title Factors affecting the disparity of Vietnamese gold prices and worldwide gold prices en
dc.contributor.author Ho, Thanh Tri
dc.contributor.author Vo, Thi Nga
dc.relation.ispartof Journal of Competitiveness
dc.identifier.issn 1804-171X Scopus Sources, Sherpa/RoMEO, JCR
dc.date.issued 2019
utb.relation.volume 11
utb.relation.issue 3
dc.citation.spage 160
dc.citation.epage 172
dc.type article
dc.language.iso en
dc.publisher Univ Tomase Bati & Zline, Fak Managementu Ekonomiky
dc.identifier.doi 10.7441/joc.2019.03.10
dc.relation.uri https://www.cjournal.cz/index.php?hid=clanek&bid=archiv&cid=341&cp=
dc.subject gold price en
dc.subject disparity en
dc.subject exchange rates en
dc.subject import tax en
dc.subject seasonal en
dc.subject competitiveness en
dc.description.abstract Gold is a precious metal which is highly appreciated because of its prominent role in the world of investments, savings, and consumption. Although gold is no longer used as a primary form of currency in some countries, it continues to have a strong influence on the value of the currencies of those countries. Compared to all the other precious metals used for investment and trade, throughout history gold has always been preferred. The value of gold is a factor mentioned in the commodities and futures market. Vietnam does not produce/mine enough gold to meet its domestic requirements. As the country has to import over sixty percent of its gold, Vietnam's gold price is mostly influenced by the world price movements, in turn increasing or decreasing domestically. Therefore, understanding and addressing the factors resulting in gold price disparities is essential in policy adjustments to stabilize the price of gold and prevent speculation, which may cause economic destabilization as well as a loss of competitiveness in Vietnamese market for gold and other precious metals. The study includes monthly data collected between January 2006 and December 2015. Exchange rates, import tax, and seasonal factor data are included in the model as independent variables. According to the empirical findings, the foreign exchange rate had a negative impact on the disparity between Vietnamese gold price and the world price. The import tax has a positive effect on the discrepancies among gold prices, while the seasonal factor variable was not statistically significant at 5 percent and negative concerning the disparity of the gold price. en
utb.faculty Faculty of Management and Economics
dc.identifier.uri http://hdl.handle.net/10563/1009248
utb.identifier.obdid 43879994
utb.identifier.wok 000488260600011
utb.source J-wok
dc.date.accessioned 2019-11-20T10:30:33Z
dc.date.available 2019-11-20T10:30:33Z
dc.description.sponsorship Internal Grant Agency of FaME; TBU [IGA/FaME/2018/019]
dc.rights Attribution 4.0 International
dc.rights.uri http://creativecommons.org/licenses/by/4.0/
dc.rights.access openAccess
utb.contributor.internalauthor Ho, Thanh Tri
utb.contributor.internalauthor Vo, Thi Nga
utb.fulltext.sponsorship The authors would like to thank the Internal Grant Agency of FaME for providing financial support to carry out this research. Funding was extended through TBU No. IGA/FaME/2018/019 - FDI absorptive capacity and the factor determining FDI flows in developing countries of Asia and Africa.
utb.wos.affiliation [Ho Thanh Tri] Tomas Bata Univ Zlin, Fac Management & Econ, Dept Finance & Accounting, Zlin, Czech Republic; [Vo Thi Nga] Tomas Bata Univ Zlin, Fac Management & Econ, Dept Management & Mkt, Zlin, Czech Republic
utb.fulltext.projects IGA/FaME/2018/019
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