This paper is an empirical investigation of the relationship between exchange rate volatility and international trade, focusing on East Asia. It finds that intra-East Asian trade is discouraged by exchange rate volatility more seriously than trade in other regions because intermediate goods trade in production networks, which is quite sensitive to exchange rate volatility compared with other types of trade, occupies a significant fraction of trade. In addition, this negative effect of volatility is mainly induced by the unanticipated volatility and has an even greater impact than that of tariffs.
権利
Copyrights 日本貿易振興機構（ジェトロ）アジア経済研究所 / Institute of Developing Economies, Japan External Trade Organization (IDE-JETRO) http://www.ide.go.jp
雑誌名
IDE Discussion Paper
雑誌名(英)
IDE Discussion Paper
巻
156
発行年
2008-05-01
出版者
Institute of Developing Economies (IDE-JETRO)
著者版フラグ
publisher
日本十進分類法
338.95
JEL分類
JEL:F10 - General
JEL:F31 - Foreign Exchange
JEL:N75 - Asia including Middle East
地域/国名
東アジア
キーワード(LSH)
Exchange rate volatility
Trade
East Asia
International trade
Foreign exchange
為替変動
貿易
東アジア
外国為替
The Effect of Exchange Rate Volatility on International Trade: The Implication for Production Networks in East Asia
本文
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