1,217
Views
46
CrossRef citations to date
0
Altmetric
Original Articles

The effects of exchange rate variability on international trade: a meta-regression analysis

&
Pages 2631-2644 | Published online: 18 Apr 2008

References

  • Abbott , A , Darnell , A and Evans , L . 2001 . The influence of exchange rate variability on UK exports . Applied Economic Letters , 8 : 47 – 49 .
  • Abrams , R . 1980 . International trade flows under flexible exchange rates . Federal Reserve Bank of Kansas City Economic Review , 65 : 3 – 10 .
  • Akhtar , MA and Hilton , RS . 1984 . Exchange rate uncertainty and international trade: some conceptual issue and new estimates for Germany and the United States Federal Reserve Bank of New York Research Papers No. 8403
  • Anderson , M and Garcia , P . 1989 . Exchange rate uncertainty and the demand for US soybeans . American Journal of Agricultural Economics , 71 : 721 – 29 .
  • Aristotelous , K . 2001 . Exchange-rate volatility, exchange-rate regime and trade volume: evidence from the UK–US export function (1889–1999 . Economics Letters , 72 : 87 – 94 .
  • Arize , AC . 1995 . The effect of exchange rate volatility on US exports . Southern Economic Journal , 62 : 34 – 43 .
  • Arize , AC . 1996a . Real exchange rate volatility and trade flows: the experience of eight european economies . International Review of Economics and Finance , 5 : 187 – 205 .
  • Arize , AC . 1996b . The impact of exchange rate uncertainty on export growth: evidence from Korean data . International Economic Journal , 10 : 49 – 60 .
  • Arize , AC . 1997a . Conditional exchange rate volatility and trade flows: the experience of eight european economies . Southern Economic Journal , 64 : 235 – 253 .
  • Arize , AC . 1997b . Foreign trade and exchange rate risk in G-7 countries . Review of Financial Economics , 6 : 95 – 112 .
  • Arize , AC . 1998 . The effects of exchange rate volatility on U.S. imports: an empirical investigation . International Economic Journal , 12 : 31 – 40 .
  • Arize , AC , Osang , T and Slottje , DJ . 2000 . Exchange rate volatility and foreign trade: evidence from thirteen LDC's . Journal of Business and Economic Statistics , 18 : 10 – 17 .
  • Arize , AC and Shwiff , SS . 1998 . Does exchange-rate volatility affect import flows in G-7 countries? Evidence from cointegration models . Applied Economics , 30 : 1269 – 76 .
  • Assery , A and Peel , DA . 1991 . The effect of exchange rate volatility on exports: some new estimates . Economic Letters , 37 : 173 – 7 .
  • Bahmani-Oskooee , M and Payesteh , S . 1993 . Does exchange rate volatility deter trade volume of LDC's? . Journal of Economic Development , 18 : 189 – 205 .
  • Bailey , MJ , Tavlas , GS and Ulan , M . 1986 . Exchange rate variability and trade performance: evidence for the big seven industrial countries . Weltwirtschaftliches Archiv , 122 : 467 – 77 .
  • Bailey , MJ , Tavlas , GS and Ulan , M . 1987 . The impact of exchange rate volatility on export growth: some theoretical considerations and empirical results . Journal of Policy Modelling , 9 : 225 – 43 .
  • Baum , C , Schaffer , M and Stillman , S . 2003 . Instrumental variables and GMM: estimation and testing Boston College Department of Economics, Working Paper No. 545
  • Bini-Smaghi , L . 1991 . Exchange rate variability and trade: why is it so difficult to find any empirical relationship? . Applied Economics , 23 : 927 – 35 .
  • Bodnar , G . 1997 . Exchange rate exposure and market value in Financial Times, Mastering Finance Series, Vol. 4, p. 2. Reprinted in Mastering Finance, 1998. FT Pitman, London
  • Brodsky , D . 1984 . Fixed versus flexible exchange rates and the measurement of exchange rate instability . Journal of International Economics , 16 : 295 – 306 .
  • Caporale , T and Doroodian , K . 1994 . Exchange rate variability and the flow of international trade . Economic Letters , 46 : 49 – 54 .
  • Card , D and Krueger , AB . 1995 . Time series minimum wage studies: a meta-analysis . American Economic Review , 85 : 238 – 43 .
  • Chan , P and Wong , J . 1985 . The effect of exchange rate variability on Hong Kong's exports . Hong Kong Economic Papers , 10 : 27 – 39 .
  • Chou , WL . 2000 . Exchange rate variability and China's exports . Journal of Comparative Economics , 28 : 61 – 79 .
  • Chowdbury , AR . 1993 . Does exchange rate volatility depress trade flows? . The Review of Economics and Statistics , 75 : 45 – 63 .
  • Clark , P , Tamirisa , N , Wei , S-J , Sadikov , A and Zeng , L . 2004 . Exchange rate volatility and trade flows: some new evidence International Monetary Fund, Occasional Paper 235 (May)
  • Cooper , R . 2000 . Towards a common currency . International Finance , 3 : 287 – 308 .
  • Cushman , DO . 1983 . The effect of real exchange rate risk on international trade . European Economic Review , 15 : 45 – 63 .
  • Cushman , DO . 1986 . Has exchange risk depressed international trade? The impact of third country exchange risk . Journal of International Money and Finance , 5 : 361 – 379 .
  • Cushman , DO . 1988 . US bilateral trade flows and exchange rate risk during the floating period . Journal of International Economics , 24 : 317 – 330 .
  • Daly , K . 1996 . The effect of exchange rate volatility on the volume of Japan's bilateral trade . The Singapore Economic Review , 41 : 23 – 39 .
  • De Grauwe , P . 1988 . Exchange rate variability and slowdown in growth of international trade . IMF Staff Papers , 35 : 63 – 84 .
  • De Grauwe , P and Bellfroid , B . 1987 . “ Long-run exchange rate variability and international trade ” . In Real- financial Linkages among Open Economies , Edited by: Arndt , S and Richardson , JD . 193 – 212 . London : The MIT Press .
  • Deaton , A . 1997 . The Analysis of Household Surveys , Baltimore Maryland : The John Hopkins University Press .
  • Dell’ariccia , G . 1999 . Exchange rate fluctuations and trade flows: evidence from the european union . International Monetary Fund Staff Papers , 46 : 315 – 34 .
  • Dellas , H and Zilberfarb , B . 1993 . Real exchange rate volatility and international trade: a reexamination of the theory . Southern Economic Journal , 59 : 641 – 7 .
  • Dhanani , A and Groves , R . 2001 . The management of strategic exchange risk: evidence from corporate practices . Accounting and Business Research , 31 : 275 – 90 .
  • Doyle , E . 2001 . Exchange rate volatility and Irish-UK trade, 1979–1992 . Applied Economics , 33 : 249 – 65 .
  • Fountas , S and Aristotelous , K . 2003 . Does the exchange rate regime affect export volume? Evidence from bilateral exports in US–UK trade: 1900–98 . The Manchester School , 71 : 51 – 64 .
  • Gagnon , J . 1993 . Exchange rate variability and the level of international trade . Journal of International Economics , 34 : 269 – 87 .
  • Giorgioni , G and Thompson , JL . 2002 . Which volatility? The case of the exports of wheat . Applied Economics Letters , 9 : 681 – 4 .
  • Görg , H and Strobl , E . 2001 . Multinational companies and productivity spillovers: a meta-analysis . Economic Journal , 111 : 723 – 39 .
  • Gotur , P . 1985 . The effect of exchange rate volatility on trade: some further evidence . IMF Staff Papers , 32 : 475 – 521 .
  • Grobar , L . 1993 . The effect of real exchange rate uncertainty on LDC manufactured exports . Journal of Development Economics , 41 : 367 – 376 .
  • Gros , D . 1987 . Exchange rate variability and the foreign trade in the presence of adjustment costs CESP Working Papers 8704 (Univesite Catholique de Louvain)
  • Hassan , MK and Tufte , DR . 1998 . Exchange rate volatility and aggregate export growth in Bangladesh . Applied Economics , 30 : 189 – 201 .
  • Holly , S . 1995 . Exchange rate uncertainty and export performance: supply and demand effect . Scottish Journal of Political Economy , 42 : 381 – 91 .
  • Hooper , P and Kohlhagen , SW . 1978 . The effect of exchange rate uncertainty on the price and volume of international trade . Journal of International Economics , 8 : 483 – 511 .
  • IMF: International Monetary Fund Research Department . 1984 . Exchange rate volatility and world trade . International Monetary Fund, Occasional Papers 28 ,
  • Jarrell , SB and Stanley , TD . 1990 . A meta-analysis of the union-nonunion wage gap . Industrial and Labor Relations Review , 44 : 54 – 67 .
  • Kenen , PB and Rodrik , D . 1986 . Measuring and analyzing the effect of the short-term volatility in the exchange rates . Review of Economics and Statistics , 68 : 311 – 5 .
  • Kiheung , K and WooRhee , L . 1996 . The impact of Korea's exchange rate volatility on korean trade . Asian Economic Journal , 10 : 45 – 60 .
  • Klein , MW . 1990 . Sectoral effects of exchange rate volatility on United States exports . Journal of International Money and Finance , 9 : 299 – 308 .
  • Kroner , K and Lastrapes , W . 1993 . The impact of exchange rate volatility on international trade . Journal of International Money and Finance , 12 : 293 – 318 .
  • Kumar , R and Dhawan , R . 1991 . Exchange rate volatility and Pakistan's exports to the developed world, 1974–85 . World Development , 19 : 1225 – 40 .
  • Leamer , E . 1985 . Sensitivity analyses would help . American Economic Review , 75 : 308 – 13 .
  • Leamer , E and Leonard , H . 1983 . Reporting the fragility of regression estimates . Review of Economics and Statistics , 65 : 306 – 317 .
  • Lee , J . 1999 . The effect of exchange rate volatility on trade in durables . Review of International Economics , 7 : 189 – 201 .
  • McKenzie , MD . 1998 . The impact of exchange rate volatility on australian trade flows . Journal of International Financial Markets, Institutions and Money , 8 : 21 – 38 .
  • McKenzie , MD . 1999 . The impact of exchange rate volatility on international trade flows . Journal of Economic Surveys , 13 : 71 – 106 .
  • McKenzie , MD and Brooks , RD . 1997 . The impact of exchange rate volatility on German – US trade flows . Journal of International Financial Markets, Institutions and Money , 7 : 73 – 87 .
  • Medhora , R . 1990 . The effect of exchange rate variability on trade: the case of West African monetary union's imports . World Development , 18 : 313 – 24 .
  • Perée , E and Steinherr , A . 1989 . Exchange rate uncertainty and foreign trade . European Economic Review , 33 : 1241 – 64 .
  • Pozo , S . 1992 . Conditional exchange rate volatility and the volume of international trade: evidence from the early 1990's . Review of Economics and Statistics , 74 : 325 – 29 .
  • Pradhan , KH . 1988 . Exchange rate variability of the rupee and India's exports . Margin , 20 : 28 – 47 .
  • Pugh , G and Tyrrall , D . 2002 . Will the single currency promote intra-European trade? . European Business Journal , 14 : 150 – 157 .
  • Pugh , G , Tyrrall , D and Tarnawa , L . 1999 . “ Exchange rate variability, international trade and the single currency debate: a survey ” . In Economic Policy in the European Union , Edited by: Meeusen , W . 9 – 25 . Cheltenham : Edward Elgar .
  • Qian , Y and Varangis , P . 1994 . Does exchange rate volatility hinder export growth . Empirical Economics , 19 : 371 – 96 .
  • Rose , A . 2000 . One money, one market: estimating the effect of common currencies on trade . Economic Policy , 30 : 9 – 45 .
  • Rose , AK and Stanley , TD . 2005 . A meta-analysis of the effect of common currencies on international trade . Journal of Economic Surveys , 19 : 347 – 66 .
  • Sauer , C and Bohara , AK . 2001 . Exchange rate volatility and exports: regional differences between developing and industrialized countries . Review of International Economics , 9 : 133 – 52 .
  • Savvides , A . 1992 . Unanticipated exchange rate variability and the growth of international trade . Weltwirtschaftliches Archiv , 128 : 446 – 63 .
  • Sekkat , K . 2001 . On the aggregate impact of exchange rate variability on EU trade . German Economic Review , 2 : 57 – 78 .
  • Smit , BW . 1991 . The variability of the rand and South African exports . Journal for Studies in Economics and Econometrics , 15 : 19 – 29 .
  • Solakoglu , M . 2005 . Exchange rate volatility and real exports: a sensitivity analysis . Journal of Economic and Social Research , 7 : 1 – 30 .
  • Stanley , TD . 1998 . New wine in old bottles: a meta analysis of ricardian equivalence . Southern Economic Journal , 64 : 713 – 27 .
  • Stanley , TD . 2001 . Wheat from chaff: meta – analysis as quantitative literature review . Journal of Economic Perspectives , 15 : 131 – 50 .
  • Stanley , TD . 2005 . Beyond publication bias . Journal of Economic Surveys , 19 : 309 – 45 .
  • Stanley , TD and Jarrell , SB . 1989 . Meta–regression analysis: a quantitative method of literature surveys . Journal of Economic Surveys , 3 : 161 – 71 .
  • StataCorp . 2003 . STATA User's Guide , College Station, Texas : Stata Corporation .
  • Stokman , A . 1995 . Effect of exchange rate risk on intra-EC trade . De Economist , 143 : 41 – 54 .
  • Taylor , M . 1995 . Exchange rate modelling and macro fundamentals . British Review of Economic Issues , 17 : 1 – 42 .
  • Thursby , JG and Thursby , MC . 1987 . Bilateral trade flows, the linder hypothesis, and exchange risk . Review of Economics and Statistics , 69 : 488 – 95 .

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.