I have multiple asian countries....to check the herding spillover I have to take one countries market return as a independent variable in another countries model equation...I have the return in their own national currency...can I add variable without changing currency or do I need to change and all countries should have a same denomination?
You can use the dollar currency for all the countries of the study sample and for all the variables of the study so that you can compare the value with the need for the countries of the study sample to be close in terms of the economic center so that the study is objective
@Salam Hashim sir thanks for such a valuable answer but I want to know only the negative sign and significance level and do not wanna check value of the coefficient, is it still necessary to convert the data into same denomination....and if I change it...since I have data from 2007-2022, then which dollar value I will take .... current value may be
No, it is not necessary to convert it, because the study of countries will not be to compare countries in terms of values, but the study is limited to studying each country far from comparison, and even if it is in comparison, it is not necessary to transfer it because the study is not about values, but rather in the direction of the upward or downward trend of the selected values (data). You can get the data for all countries through the link below
https://data.worldbank.org/ Komal Jindal
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