HAS EXCHANGE RATE VOLATILITY PRODUCED ANY EFFECTS ON BILETERAL AND SECTORAL EXPORTS IN EUROPE? NEW EVIDENCE FROM THE UNITED KINGDOM
Анотація
This paper examines the effect of exchange rate volatility to sectoral- bilateral exports for a set of eleven European countries to a exports during the period of 1973 -2008. Our investigation on the topic has examined one very important aspect. In other words, it is possible for the same set of countries to produce different results when different trade flows are examined. Further more the results of these trade flows used to examine the overall aggregate effects. Our investigation on bilateral sectorial trade flows has been preformed in two ways. The first incorporated the utilization of total U.K. to E.U. -14 exports for each sector while the second incorporated each of the U.K. 's to E.U.-14 sectoral flows. Overall our results suggest the existence (for some countries and products) of a mixed relationship which is consistent with our previews empirical work.
Посилання
Abbott A, Darnell A, Evans L (2001) The Influence Of Exchange Rate Variability On UK Exports. Applied Economics Letters 8:47-49.
Aliyu, R. (2008). “Exchange Rate Volatility and Export Trade in Nigeria: An Empirical Investigation" online
Arize A (1995) Trade Flows And Real Exchange Rate Volatility: An Application Of Cointegration And Error-Correction Modeling. North American Journal of Economics and Finance 6(1): 37-51.
Arize A (1999) The Demand For LDC Exports: Estimates From Singapore. The In¬ternational Trade Journal XIII (4): 345-369.
Arize A (1996) Real Exchange Rate Volatility And Trade Flows: The Experience Of Eight European Economies. International Review of Economics and Finance 5(2): 187-205.
Arize A, Osang T, Slottje D (2000) Exchange Rate Volatility And Foreign Trade: Evidence From Thirteen LDC’s. Journal Of Business and Economic Statistics 18(1): 10-17.
Asseery A, Peel D (1991) The Effects Of Exchange Rate Volatility On Exports. Eco¬nomics Letters 37: 173-177.
Awokuse T, Yuan Y (2006) The Impact Of Exchang
e Rate Volatility On U.S. Poultry Exports. Agribusiness 22(2): 233-245.
Bahmani-Oskoose, Mohsen, Goswami, Gour (2004) Exchange Rate Sensitivity Of Japan’s Bilateral Trade Flows. Japan and the World Economy 16:1-5.
Baum C, Ozkan (2004) Nonlinear Effects Of Exchange Rate Volatility On The Vol¬ume Of Bilateral Exports. Journal Of Applied Econometrics 19:1-23.
Benson U, Godwin A (2010) A Comparative Analysis of The Effect of Exchange Rate Volatility on Exports in the CFA and Non-CFA Countries of Africa. Journal of Social Sciences 24(1): 23-31.
Bredin, Fountas, Murphy (2003) An Empirical Analysis of Short-Run Irish Export Functions: Does Exchange Rate Volatility Matter?. International Review of Applied Economics 17(2): 193-208.
Cheong, Mehari, Williams (2006) Dynamic Links Between Unexpected Exchange Rate Variation, Prices, And International Trade. Open Economies Review 17:221-233.
Chit, Moe, Marian, Willenbockel (2008) Exchange Rate Volatility and Exports: New Empirical Evidence from the Emerging East Asian Economies. online
Choudhry, Taufiq (2005) Exchange Rate Volatility And The United States Exports: Evidence From Canada And Japan. Japanese Economies 19:51-57.
Clark P (1973) Uncertainty, Exchange Rate Risk, And The Level Of International Trade. Western economic journal 11:302-313
Cushman D (1983) The Effects Of Real Exchange Rate Risk On International Trade. Journal Of International Economics 15:45-63.
Cushman D (1986) Has Exchange Risk Depressed International Trade? The Impact Of Third Country Exchange Risk. Journal of International Money and Finance 5: 361-379.
Cushman D (1988) U.S. Bilateral Trade Flows and Exchange Risk During the Float¬ing Period. Journal of International Economics 24:317-330.
Doganlar, Murat (2002) Estimating The Impact Of Exchange Rate Volatility On Ex¬ports: Evidence from Asian Countries. Applied Economics Letters 9: 859-863.
Doyle E (2001) Exchange Rate Volatility And Irish-UK Trade, 1979-1992. Applied Economics 33: 249-265.
Du H, Zhu, Zhen (2001) Exchange Rate Risk In Exports: Some Additional Empirical Evidence. Journal of Economic Studies 28(2): 106-121.
Hooper P, Kohlhagen S (1978) The Effect Of Exchange Rate Uncertainty On The Prices And Volume Of International Trade. Journal Of International Economics 8: 483-511.
Kai-Li W, Barret C (2007) Estimating the Effects of Exchange Rate Volatility on Ex¬port Volumes. Journal of Agricultural and Resource Economics forthcoming.
Kargbo J (2006) Exchange Rate Volatility And Agricultural Trade Under Policy Re¬forms In South Africa. Development southern Africa 23(1): 147-170.
Levy-Yeyati, Eduardo, Sturzenegger, Federico (2003) To Float Or To Fix: Evidence On The Impact Of Exchange Rate Regimes On Growth. The American Economic Review 93(4): 1173-1193.
Lihan O, Huseyin K (2009) Exchange Rate Volatility and Trade: An Empirical Investiga¬tion from Cross Country Comparison. African Development Review 21(3): 499-513.
Mckenzie M (1998) The Impact Of Exchange Rate Volatility On Australian Trade Flows. Journal Of International Financial Markets Institutions And Money 8:21-38.
Pattichis, Cheong, Mehari, Williams (2004) Exchange Rate Uncertainty, UK Trade And The Euro. Applied Financial Economics 14: 885-893.
Serenis D (2006) The Impact Of Exchange Rate Volatility On Exports: A Cross Country Analysis (1973-2004). PhD thesis, University Of Bradford.
Serenis D (2009) The Impact Of Exchange Rate Volatility On Sectoral Exports (1973-2004). Atlantic Economic Journal: 2010, vol. 38, issue 1, pages 117-118.
Serenis, Serenis (2010) The Impact Of Exchange Rate Volatility On Exports: Addi¬tional Evidance For Four European Countries (1973-2004). Journal of European Economy Volume: 3(1): 355-341.
Serenis, Serenis (2010) The Impact Of Exchange Rate Volatility On Sectoral Ex¬ports: Evidance From Twelve E.U. Member Countries (1973-2004). Journal of European Economy: forthcoming
Serenis, Serenis (2008) The Impact Of Exchange Rate Volatility On Exports: Evi¬dence From Four European Countries. Paper resented in the International Confer¬ence on Applied Economics, Kastoria-Greece, May 15-17.
Serenis, Serenis (2010) Exchange Rate Volatility, the E.U. and Sectoral Exports: New Empirical Evidence from the Chemical Sector (1973-2005). Research in World Economy 1(1): 47-55.
Serenis, Cameron, Serenis (2008) The Impact Of Exchange Rate Volatility On Ex¬ports: A Cross Country Analysis (1973 - 2004). Atlantic Economic Journal 36(3): 375-376.
Siregar, Rajan (2004) Impact Of Exchange Rate Volatility On Indonesia’s Trade Performance In The 1990s. Japanese International Economics 18:218-240.
Thursby, Thursby (1987) Bilateral Trade Flows, The Linder Hypothesis And Ex¬change Risk. Review Of Economics And Statistics 69: 488-495.
De Grauwe, Paul (1988) Exchange Rate Variability And The Slowdown In Growth Of International Trade Staff Papers- International Momentary Fund 35:63-83.
