- About this Journal ·
- Abstracting and Indexing ·
- Aims and Scope ·
- Article Processing Charges ·
- Articles in Press ·
- Author Guidelines ·
- Bibliographic Information ·
- Contact Information ·
- Editorial Board ·
- Editorial Workflow ·
- Free eTOC Alerts ·
- Publication Ethics ·
- Submit a Manuscript ·
- Subscription Information ·
- Table of Contents
Volume 2014 (2014), Article ID 839380, 10 pages
Exchange Rate Volatility and Aggregate Exports: Evidence from Two Small Countries
1Department of International Trade, Technological Institute of Western Macedonia Kastoria Campus, 52100 Kastoria, Greece
2Adjunct Faculty, Hellenic Open University, Greece
Received 30 October 2013; Accepted 27 November 2013; Published 20 January 2014
Academic Editors: J. M. Labeaga and K. P. Upadhyaya
Copyright © 2014 Dimitrios Serenis and Nicholas Tsounis. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
- M. D. McKenzie, “The impact of exchange rate volatility of international trade flows,” Journal of Economic Surveys, vol. 13, no. 1, pp. 71–106, 1999.
- P. Clark, “Uncertainty, exchange rate risk, and the level of international trade,” Western Economic Journal, vol. 11, pp. 302–313, 1973.
- P. Hooper and S. W. Kohlhagen, “The effect of exchange rate uncertainty on the prices and volume of international trade,” Journal of International Economics, vol. 8, no. 4, pp. 483–511, 1978.
- J. Thursby and M. Thursby, “Bilateral trade flows, the linder hypothesis and exchange risk,” Review of Economics and Statistics, vol. 69, pp. 488–495, 1987.
- M. D. McKenzie and R. D. Brooks, “The impact of exchange rate volatility on German-US trade flows,” Journal of International Financial Markets, Institutions and Money, vol. 7, no. 1, pp. 73–87, 1997.
- D. O. Cushman, “The effects of real exchange rate risk on international trade,” Journal of International Economics, vol. 15, no. 1-2, pp. 45–63, 1983.
- M. Akhtar and S. R. Hilton, “Effects of exchange rate uncertainty on German and U.S. Trade,” Federal Reserve Bank of New York, Quarterly Review, vol. 9, pp. 7–16, 1984.
- P. de Grauwe, “Exchange rate variability and the slowdown in growth of international trade,” Staff Papers, vol. 35, pp. 63–83, 1988.
- E. Perée and A. Steinherr, “Exchange rate uncertainty and foreign trade,” European Economic Review, vol. 33, no. 6, pp. 1241–1264, 1989.
- K. F. Kroner and W. D. Lastrapes, “The impact of exchange rate volatility on international trade: reduced form estimates using the GARCH-in-mean model,” Journal of International Money and Finance, vol. 12, no. 3, pp. 298–318, 1993.
- S. Pozo, “Conditional exchange rate volatility and the volume of international trade: evidence from the early 1900s,” The Review of Economics and Statistics, vol. 75, pp. 325–329, 1992.
- A. C. Arize, “Trade flows and real exchange-rate volatility: an application of cointegration and error-correction modeling,” North American Journal of Economics and Finance, vol. 6, no. 1, pp. 37–51, 1995.
- A. Asseery and D. A. Peel, “The effects of exchange rate volatility on exports,” Economics Letters, vol. 37, no. 2, pp. 173–177, 1991.
- A. R. Chowdhury, “Does exchange rate volatility depress trade flows? Evidence from error-correction models,” The Review of Economics & Statistics, vol. 75, no. 4, pp. 700–706, 1993.
- A. C. Arize, T. Osang, and D. J. Slottje, “Exchange-rate volatility and foreign trade: evidence from thirteen LDC's,” Journal of Business and Economic Statistics, vol. 18, no. 1, pp. 10–17, 2000.
- M. Doǧanlar, “Estimating the impact of exchange rate volatility on exports: evidence from Asian countries,” Applied Economics Letters, vol. 9, no. 13, pp. 859–863, 2002.
- Z. Javed and M. Farooq, “Economic growth and exchange rate volatility in the case of Pakistan,” Pakistan Journal of Life and Social Sciencees, vol. 7, no. 2, pp. 112–118, 2009.
- A. Shehu and Z. Youtang, “Exchange rate volatility, trade flows and economic growth in a small economy,” International Review of Business Papers, vol. 8, no. 2, pp. 118–131, 2012.
- S. Hall, G. Hondroyiannis, P. A. V. B. Swamy, G. Tavlas, and M. Ulan, “Exchange-rate volatility and export performance: do emerging market economies resemble industrial countries or other developing countries?” Economic Modelling, vol. 27, no. 6, pp. 1514–1521, 2010.
- T. Awokuse and Y. Yuan, “The impact of exchange rate volatility on U.S. poultry exports,” Agribusiness, vol. 22, no. 2, pp. 233–245, 2006.
- D. Serenis, N. Tsounis, and P. Serenis, “Exchange rate volatility, and sectoral exports is there a relationship? New evidence from the EU,” in Proceedings of the International Conference on Applied Economics (ICOAE '11), pp. 579–588, 2011.
- D. Serenis and N. Tsounis, “A new approach for measuring volatility of the exchange rate,” Procedia Economics and Finance, vol. 1, pp. 374–382, 2012.
- M. Goldstein and M. Khan, “The supply and demand for exports: a simultaneous approach,” The Review of Economics and Statistics, vol. 60, no. 2, pp. 275–286, 1978.
- D. A. Dickey and W. Fuller, “Likelihood ratio statistics for autoregressive time series with unit root,” Econometrica, vol. 49, no. 4, pp. 1057–1072, 1981.
- P. C. Phillips and P. Perron, “Testing for a unit root in time series regrassion,” Biometrica, vol. 75, no. 2, pp. 335–346, 1988.
- S. Johansen and K. Juselius, “Maximum likelihood estimation and inference on co-integration—with applications to the demand for money,” Oxford Bulletin of Economics and Statistics, vol. 52, no. 2, pp. 169–210, 1990.
- M. H. Pesaran and Y. Shin, “An autoregressive distributed lag modelling approach to cointegration analysis,” in Econometrics and Economic Theory in the 20th Century: The Ragnar Frisch-Centennial Symposium, S. Strom and P. Diamond, Eds., Cambridge University Press, Cambridge, UK, 1999.
- M. H. Pesaran, Y. Shin, and R. J. Smith, “Bounds testing approaches to the analysis of level relationships,” Journal of Applied Econometrics, vol. 16, no. 3, pp. 289–326, 2001.
- M. H. Pesaran and B. Persaran, Working with Microfit 4.0: Interactive Econometric Analysis, Oxford University Press, Oxford, UK, 1997.
- J. Laurenceson and J. C. H. Chai, Financial Reform and Economic Development in China, Edward Elgar, Northampton, Mass, USA, 2003.
- E. Oteng-Abayie and J. Frimpong, “Bound testing approach to cointegration: an examination of foreign direct investment trade and growth relationships,” The Americal Journal of Applied Sciences, vol. 11, no. 3, pp. 2079–2085, 2006.
- G. Bardsen, “Estimation of long run coefficients in error correction models,” Oxford Bulletin of Economics and Statistics, vol. 51, no. 3, pp. 345–350, 1989.
- M. Gonzalez-Gomez, M. Alvarez-Diaz, and M. Otero-Giraldez, “Modeling domestic tourism demand in Galicia using the ARDL approach,” Tourism and Management Studies, vol. 7, pp. 54–61, 2011.
- B. Efron and R. Tibshirani, An Introduction to the Bootstrap, Chapman & Hall, New York, NY, USA, 1998.