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Exchange Rate And Performance Of The Residential Property Market In Kenya

Author

Listed:
  • Charles Gitiya Njoroge
  • Willy Muturi, Prof.
  • Oluoch Oluoch, Dr

Abstract

The purpose of the study was to establish the effect of exchange rate on the performance of the residential property market in Kenya. The study used secondary data that was accumulated using secondary data collection sheet from first quarter of 2005 to fourth quarter of 2018. The study conducted several test statistics and diagnostic tests in order to achieve the most optimal solution. Vector error correction model and auto-regressive distributed lag model were employed to test the hypothesis in the short run and long run respectively. The results found out that exchange rate had a negative effect on performance of residential properties in Kenya in both the short run and positive effect in long run. The study has narrowed down the research gap brought about by the conflicting emprical, theoretical and conceptual literature with regard to the effect of exchange rate on performance of residential property market in Kenya. Key Words: Exchange Rate, Performance, Residential Property

Suggested Citation

  • Charles Gitiya Njoroge & Willy Muturi, Prof. & Oluoch Oluoch, Dr, 2019. "Exchange Rate And Performance Of The Residential Property Market In Kenya," International Journal of Finance & Banking Studies, Center for the Strategic Studies in Business and Finance, vol. 8(3), pages 88-100, August.
    • Handle: RePEc:rbs:ijfbss:v:8:y:2019:i:3:id:507
    DOI: 10.20525/jfbs.v8i3.507
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    References listed on IDEAS

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    1. Erjona REBI, 2014. "Mortgage lending and house prices in Albania - a co-integrated analysis based on VECM," Eastern Journal of European Studies, Centre for European Studies, Alexandru Ioan Cuza University, vol. 5, pages 79-98, June.
    2. repec:eme:ijhma0:ijhma-04-2017-0039 is not listed on IDEAS
    3. Shiau Hui Kok & Normaz Wana Ismail & Chin Lee, 2018. "The sources of house price changes in Malaysia," International Journal of Housing Markets and Analysis, Emerald Group Publishing Limited, vol. 11(2), pages 335-355, February.
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