https://procedia.online/index.php/economic <div> <p style="text-align: justify;"><strong>Procedia on Economic Scientific Research (2795-5648)</strong> - is published in Portugal, to make vivid results of all scientific views and points from the students and graduated on international levels. Journal has focused on different economic-related aspects of the study from various fields. This Symposium gives us a better understanding of the international standards and global requirements to improve major features as a whole.</p> </div> en-US editor@procedia.online (Editor) editor@procedia.online (Editor) Thu, 07 Nov 2024 20:16:47 -0700 OJS 3.3.0.10 http://blogs.law.harvard.edu/tech/rss 60 https://procedia.online/index.php/economic/article/view/1497 <p>This study investigates the influence of exchange rate fluctuations on Sierra Leone’s balance of payments (BOP) from 1980 to 2022, within the context of the nation’s exchange rate regimes and economic challenges, including trade imbalances and external debt burdens. While previous research has analyzed exchange rates in various economies, limited work has specifically addressed their impact on Sierra Leone’s BOP. This study aims to bridge this gap by employing an Autoregressive Distributed Lag (ARDL) model to examine the bidirectional relationship between exchange rates and BOP. Using data from the Bank of Sierra Leone and the World Bank, findings reveal that exchange rate increases correlate positively with improvements in the BOP, underscoring a reciprocal dynamic. The study suggests that controlled devaluation and stable economic policies could foster economic stability and attract foreign investment. Key policy recommendations include establishing specific exchange rate targets, managing inflation, and optimizing foreign exchange policies to support Sierra Leone’s macroeconomic stability.</p> Ishmael Kamara, Indra Gunawan, Fajar Hirawan Copyright (c) 2024 https://procedia.online/index.php/economic/article/view/1497 Fri, 08 Nov 2024 00:00:00 -0700