Download or read book Exchange Rate Volatility and Trade Among the Asia Pacific Countries written by SaangJoon Baak and published by . This book was released on 2017 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this paper is to investigate the impact of exchange rate volatility on exports among 14 Asia Pacific countries, where various measures to raise the intra-region trade are being implemented. Specifically, this paper estimates a gravity model, in which the dependent variable is the product of the exports of two trading countries. In addition, it also estimates a unilateral exports model, in which the dependent variable is not the product of the exports of two trading countries but the exports from one country to another. By doing this, the depreciation rate of the exporting country's currency value can be included as one of the explanatory variables affecting the volume of exports.As the explanatory variables of the export volume, the gravity model adopts the product of the GDPs of two trading counties, their bilateral exchange rate volatility, their distance, a time trend and dummies for the share of the border line, the use of the same language, and the APEC membership. In the case of the unilateral exports model, the product of the GDPs is replaced by the GDP of the importing country, and the depreciation rate of the exporting country's currency value is dded. In addition, considering that the export volume will also depend on various onditions of the exporting country, dummies for exporting countries are also included as an explanatory variable.The empirical tests, using annual data for the period from 1980 to 2002, detect a significant negative impact of exchange rate volatility on the volume of exports. In addition, various tests using the data for sub-sample periods indicate that the negative impact had been weakened since 1989, when APEC had launched, and surged again from 1997, when the Asian financial crisis broke out. This finding implies that the impact of exchange rate volatility is time-dependent and that it is significantly negative at least in the present time. This phenomenon is noticed regardless which estimation model is adopted.In addition, the test results show that the GDP of the importing country, the depreciation of the exporting country's currency value, the use of the same language and the membership of APEC have positive impacts on exports, while the distance between trading countries have negative impacts. Finally, it turns out that the negative impact of exchange rate volatility is much weaker among OECD countries than among non-OECD counties.
Download or read book Exchange Rate Movements and Their Impact on Trade and Investment in the APEC Region written by Takatoshi Ito and published by International Monetary Fund. This book was released on 1996-12-04 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 18 members of the Asia-Pacific Economic Cooperation Council (APEC) encompass not only a wide geographic area but also broad differences in stages of economic development, including among them some of the fastest- growing economies in the world. Such rapid growth has been ficilitated by high levels of investment and trade, international linkages, and, in most APEC economies, macroeconomic policies that have sustained growth while not sparking excessive inflation. This study offers insights about how medium and long-term changes in real exchange rates have affected international (and intra-APEC) trade and investment in the region.
Download or read book The Impact of Exchange Rate Volatility on Trade Flows for East Asian Countries written by Wooi Hooy Chee and published by . This book was released on 2008 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Proposed Strategy for a Regional Exchange Rate Arrangement in Post crisis East Asia written by Masahiro Kawai and published by World Bank Publications. This book was released on 2000 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: A coordinated action by East Asian countries to stabilize their currencies against a common basket of major currencies (broadly representative of their average structure of trade and foreign direct investment) would help stabilize both intraregional exchange rates and effective exchange rates, in a way consistent with the medium-term objective of promoting trade investment and growth in the region.
Download or read book Regionalism Trade and Economic Development in the Asia Pacific Region written by Muhammed Abu B. Siddique and published by Edward Elgar Publishing. This book was released on 2007-01-01 with total page 255 pages. Available in PDF, EPUB and Kindle. Book excerpt: The editor of this book is to be congratulated for providing us with the works of a group of authors who combine proficient technical skills with elegant and lucid writing capabilities. . . This book would make excellent recommended reading for both undergraduate and graduate classes in international trade and finance. Herb Thompson, Journal of Contemporary Asia This book is based on the premise that Regional Trade Agreements (RTAs) in the Asia-Pacific significantly impact on the material progress of the peoples of this region. These impacts in terms of the benefits and costs associated with RTAs will vary greatly from country to country. The internationally acclaimed contributors examine the theoretical perspective of RTAs in relation to exchange rates, the role and goals of the WTO and agriculture. The tensions and trade frictions resulting from the formation of trade blocs and their conflicts with the roles and goals of the WTO are also examined in the book. Those economies that are considered the economic powerhouses of the region including China, Japan, South Korea, major ASEAN countries and Australia are discussed in depth. The findings of the book suggest that RTAs are becoming increasingly popular in the Asia-Pacific region. However the associated costs and benefits depend on a number of complex factors including exchange rates, negotiation skills, the sectors included or excluded from the RTA, and the level of economic development of the nations signing the RTAs. The book will be particularly useful to academics, researchers, consultants, students, policy makers (including trade negotiators), and practitioners involved in trade and development in the Asia-Pacific region.
Download or read book The Real Exchange Rate and Economic Development in Foreign Exchange Countries in the Asia Pacific Region written by C. Miya and published by . This book was released on 2023-04-13 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the relationship between Real Exchange Rate and Economic Growth of Asia - Pacific Foreign Exchange Countries. It was conducted on quarterly data and used Unit Root Test, Correlation Test, Linear Regression, Cointegration Test, Causal Relationship, and Maximum Eigen Value Statistics. The findings revealed that Indonesia was the only country, which attained linear relationship with all the sample variables of Economic growth, except Inflation. Hong Kong recorded bidirectional causal relationships between Real Exchange rate and majority of the Economic Growth variables (Exports, Gross Domestic Product, Imports and Inflation). In two countries, Hong Kong and India, all the five cointegrating vectors indicated long-run relationship between real exchange rate and economic growth
Download or read book Exchange Rates and Global Volatility written by John Cairns and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: At times of heightened global equity and bond market volatility, high-yielding currencies tend to depreciate while low-yielding ones tend to serve as a “safe haven”. The whole spectrum of sensitivity to global volatility is represented among Asia-Pacific currencies.
Download or read book Economic Interdependence in the Asia Pacific Region written by C. H. Kwan and published by Psychology Press. This book was released on 1994 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the 1985 Plaza Accord, trade, investment and economic interdependence among the Asian economies has increased, while reliance on the US has fallen. In the light of this, Kwan considers the possiblity of forming a yen bloc in the region.
Download or read book Is Volatility in Asia Pacific Markets Anything New written by Tiffany Hutcheson and published by . This book was released on 1998 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Effect of Exchange Rate Volatility on International Trade in East Asia written by Kazunobu Hayakawa and published by . This book was released on 2008 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Deregulation and Trade Expansion written by Suiwah Leung and published by . This book was released on 1994 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of a series of working papers put out by the Research School of Pacific and Asian Studies at the ANU. Reviews the evidence linking exchange rate volatility to trade and presents arguments for not reforming the international monetary system to stabilise exchange rates. Suggests instead that other ways to curb the growth of non-tariff barriers to trade be examined. Includes a list of references.
Download or read book Volatility of Exchange Rates and International Trade written by Sujit Kanti Das and published by . This book was released on 2004 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Exchange Rate Volatility and Export Flows Among ASEAN 4 Countries written by Mohd. Azlan Shah Zaidi and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Interdependence of Trade and Exchange Rate Stability in East Asia Pacific written by Stephan Freitag and published by . This book was released on 2011 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Exchange Rate Volatility and Intra Asia Trade written by Hsiao Chink Tang and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the impact of intra-Asia exchange rate volatility on intra-Asia trade in primary goods, intermediate goods, equipment goods and consumption goods from 1980 to 2009. For Asia, the evidence shows that as intraregional exchange rate volatility increases, intraregional exports in these goods fall. This adverse impact is even more pronounced in the subregion of Association of Southeast Asian Nations (ASEAN)+5 comprising ASEAN member countries plus the People's Republic of China; Hong Kong, China; Japan; the Republic of Korea; and Taipei, China; and especially among intermediate and equipment exports. Again, the impact magnifies in an even smaller subgroup excluding the smaller ASEAN economies. These results underline the significant impact of exchange rate volatility on the region's production networks. For South Asia, however, exchange rate volatility appears to have a positive impact on exports. Still, caution is warranted given that South Asian economies trade relatively little with each other.
Download or read book In the Same Boat written by Yochanan Shachmurove and published by . This book was released on 2007 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper utilizes Vector Auto Regression (VAR) models to analyze the interdependence among exchange rates of twelve Asian-Pacific nations, Australia, China, Indonesia, Japan, Malaysia, New Zealand, Philippines, South Korea, Singapore, Taiwan, Thailand, and Vietnam. The daily data span from 1995 to 2004. It finds strong regional foreign exchange dependency, varying from 32 to 73 percent. This network of markets is highly correlated, with shocks to one reverberating throughout the region. Despite the linkages of the Chinese exchange rate to the United States dollar, the Chinese foreign exchange is not as independent with respect to its South-Asian neighbors as previously thought.
Download or read book The Independence of Trade and Exchange Rate Stability in East Asia Pacific written by Stephan Freitag and published by . This book was released on 2012 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt:
