Direkt zur Hauptnavigation springen Direkt zum Inhalt springen
info(at)avldigital.remove-this.de
Deutsch English
Letzte Suchanfragen

Ergebnisse für *

Zeige Ergebnisse 1 bis 3 von 3.

  1. Export performance and exchange rate volatility
    evidence from the WAMZ
    Autor*in: Tarawalie, Abu Bakarr; Sissoho, Momodu; Conte, Mohamed; Ahortor, Christian R.
    Erschienen: December, 2013
    Verlag:  West African Monetary Institute (WAMI), Accra, Ghana

    This paper examines the relationship between exchange-rate volatility and export performance in the WAMZ countries using quarterly data for the period 1990-2010. The paper utilizes the Engel-Granger Dynamic OLS (DOLS) estimation technique as well as... mehr

    Zugang:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 823
    Fernleihe:
    keine Fernleihe

     

    This paper examines the relationship between exchange-rate volatility and export performance in the WAMZ countries using quarterly data for the period 1990-2010. The paper utilizes the Engel-Granger Dynamic OLS (DOLS) estimation technique as well as the Generalized Auto Regressive Conditional Heteroskedasticity (GARCH) approach to model the real exchange rate volatility. In conformity with theoretical considerations, the results indicate that increases in the exchange-rate volatility exert a significant negative effect upon export in Liberia, Nigeria and Sierra Leone. While a positive relationship is established in the case of The Gambia, exchange-rate volatility impact on Ghana and Guinea is insignificant. The results also reveal a positive relationship between terms of trade and export performance for all the countries, indicating that improvement in terms of trade trigger increases in export performance in the WAMZ countries. Income from the rest of the world is found to have a positive effect on export performance in the WAMZ countries. The study also finds that real effective exchange rate has a negative impact on export performance in the case of The Gambia, Ghana and Nigeria, while a positive relationship is established in the case of Guinea and Liberia. However, while a positive relationship is revealed for Sierra Leone in the long run, its impact in the short run is negative. A key lesson arising from this study is that trade policy actions aimed at stabilizing the export market are likely to generate uncertain results, at best, if policymakers in the WAMZ countries ignore the stability as well as the level of the real exchange rate. Thus, if policymakers wish to target exports, policies which will ensure stability of the exchange rate should be of outmost importance.

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/264216
    Schriftenreihe: WAMI occasional paper series ; vol. 1, no. 5
    Schlagworte: Exchange rate volatility; Engel-Granger Dynamic OLS; export performance; GARCH; WAMZ
    Umfang: 1 Online-Ressource (circa 33 Seiten), Illustrationen
  2. The Effects of Japanese Foreign Exchange Market Interventions on the Yen/U.S. Dollar Exchange Rate Volatility
    Autor*in: Frenkel, Michael; Pierdzioch, Christian; Stadtmann, Georg
    Erschienen: 2003
    Verlag:  Kiel Institute for the World Economy (IfW), Kiel

    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
  3. The green sin
    how exchange rate volatility and financial openness affect green premia
    Autor*in: Moro, Alessandro; Zaghini, Andrea
    Erschienen: [2023]
    Verlag:  Center for Financial Studies, Goethe University, Frankfurt am Main, Germany

    We propose a model with mean-variance foreign investors who exhibit a convex disutility associated to brown bond holdings. The model predicts that bond green premia should be smaller in economies with a closer financial account and highly volatile... mehr

    Zugang:
    Resolving-System (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 108
    Fernleihe:
    keine Fernleihe

     

    We propose a model with mean-variance foreign investors who exhibit a convex disutility associated to brown bond holdings. The model predicts that bond green premia should be smaller in economies with a closer financial account and highly volatile exchange rates. This happens because foreign intermediaries invest relatively less in such economies, and this lowers the marginal disutility of investing in polluting activities. We find strong empirical evidence in favor of this hypothesis using a global bond market dataset. Exchange rate volatility and financial account openness are thus able to explain the higher financing costs of green projects in emerging markets relative to advanced economies, especially when green bonds are denominated in local currency: a disadvantage that we can call the "green sin" of emerging economies.

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/280929
    Schriftenreihe: CFS working paper series ; no. 715
    Schlagworte: Green bonds; Greenium; Exchange rate volatility; Financial openness; Original sin
    Umfang: 1 Online-Ressource (circa 36 Seiten), Illustrationen