Long‐run Determinants of Japanese Exports to China and the United States: A Sectoral Analysis

Jaussaud, Jacques; Rey, Serge

doi:10.1111/j.1468-0106.2011.00569.x

Cited by 10 publications

(6 citation statements)

References 26 publications

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“…Razin and Collins (1997) on the other hand found that currency overvaluations are associated with lower growth which is consistent with the traditional approach to exchange rates. Jaussaud and Rey (2009) also confirmed the traditional approach in that Japanese exports to China and United States were found to decline if currency appreciated. This in turn affected growth negatively.…”

Section: A Review Of Relevant Literaturesupporting

confidence: 59%

Investigating the Impacts of Real Exchange Rates on Economic Growth: A Case study of South Africa.

Sibanda¹,

Ncwadi

Mlambo

2013

MJSS

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This paper examines the impact of real exchange rates on economic growth in South Africa. The paper uses quarterly time series data for the period of 1994 to 2010. The Johansen cointegration and vector error correction model is used to determine the impact of real exchange on economic growth in South Africa. The explanatory variables in this paper are real exchange rates, real interest rates, money supply, trade openness and gross fixed capital formation. Results of the study reveals that real exchange rates have a dampening long run impact on economic growth in South Africa. From the regression results, it is noted that undervaluation of the currency significantly hampers growth in the long run, whilst it significantly enhances economic growth in the short run. As such, the policy of depreciating exchange rates to achieve higher growth rates is only effective in the short run and is not sustainable in the long run. Based on the findings of this study, the authors recommend that misalignment (overvaluation and undervaluation) of the currency should be avoided at all costs. In addition, the results of the study shows that interest rates also have a significant impact on growth and since interest rates have a bearing on the exchange rate, it is recommended that the current monetary policy of inflation targeting be maintained in South Africa.

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Section: A Review Of Relevant Literaturesupporting

confidence: 59%

Investigating the Impacts of Real Exchange Rates on Economic Growth: A Case study of South Africa.

Sibanda¹,

Ncwadi

Mlambo

2013

MJSS

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“…The depreciation in the rupee will make the exports cheaper and, hence, this will increase the demand for exported goods in the world market. Jaussaud and Rey (2012) investigated the impact of ER on exports Japan to China and the USA. The period of analysis ranged from 1971 to 2007.…”

Section: Literature Reviewmentioning

confidence: 99%

Why export competitiveness differs within Indian textile industry? Determinants and empirical evidence

Dhiman

Kumar

Rana

2020

RIBS

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Purpose This study aims to examine whether export competitiveness (EC) in the two groups of the Indian textile industry i.e. “textiles” and “textile products” group differ. Design/methodology/approach The study examines how exchange rate (ER), real effective exchange rate (REER) and EC of both the groups are related in the long run over the period 1991-1992 to 2018-2019 using Granger causality test and Johansen and Juselius co-integration test. Findings The study confirms that EC is a challenge that needs to be addressed to sustain in the international market, as the volatile trend can be found for EC in both groups. The econometric framework shedding light on both groups of the textile industry suggest that select determinants have different relationships with the EC for two groups. The findings of the Granger causality test reveal that the presence of unidirectional causality running from ER to EC in the case of both the groups. Also, the select variables are found to be co-integrated in the long run. However, in the case of REER, no causality is found running from REER to EC. Originality/value ER is a vital determinant of EC and exporters can sustain competitiveness in global markets by reducing their profit mark-up in the face of an appreciating currency.

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“…It is important to know whether oral interventions move the exchange rate in the intended direction as central banks often use oral interventions, sometimes in combination with official interventions. One important reason is that the (real) exchange rate affects countries' macroeconomic performance (see Sokolov et al, 2011;Jaussaud and Rey, 2012). There are a several empirical studies on the effectiveness of oral interventions in advanced economies, but the conclusions of those studies cannot necessarily be transposed to developing countries.…”

Section: Introductionmentioning

confidence: 99%

Did Oral Interventions by the Indonesian Central Bank Support the Rupiah?

Sahminan

Haan²

2013

Pacific Economic Review

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Most previous studies on the effectiveness of oral interventions (statements by officials in support of the exchange rate) focus on industrial countries. The present paper examines whether statements by Bank Indonesia officials (i.e. the central bank of Indonesia) during the period 2004–2007 have had any effect on the level and volatility of the rupiah–dollar exchange rate. Our exponential generalized autoregressive conditional heteroskedasticity models suggest that oral interventions have little impact on the level of the spot exchange rate, but increase the volatility of the spot exchange rate. Oral interventions indicating a stronger or weaker rupiah also have little influence on the level of the forward exchange rate while neutral statements lead to more volatility.

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Long‐run Determinants of Japanese Exports to China and the United States: A Sectoral Analysis

Cited by 10 publications

References 26 publications

Investigating the Impacts of Real Exchange Rates on Economic Growth: A Case study of South Africa.

Investigating the Impacts of Real Exchange Rates on Economic Growth: A Case study of South Africa.

Why export competitiveness differs within Indian textile industry? Determinants and empirical evidence

Did Oral Interventions by the Indonesian Central Bank Support the Rupiah?

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