Depreciations Without Exports Global Value Chains And The Exchange Rate Elasticity Of Exports
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Global Value Chains And The Exchange Rate Elasticity Of Exports
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Author : Swarnali Ahmed
language : en
Publisher: International Monetary Fund
Release Date : 2015-11-30
Global Value Chains And The Exchange Rate Elasticity Of Exports written by Swarnali Ahmed and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-11-30 with Business & Economics categories.
This paper analyzes how the formation of Global Value Chains (GVCs) has affected the exchange rate elasticity of exports. Using a panel framework covering 46 countries over the period 1996-2012, we first find some suggestive evidence that the elasticity of real manufacturing exports to the Real Effective Exchange Rate (REER) has decreased over time. We then examine whether the formation of supply chains has affected this elasticity using different measures of GVC integration. Intuitively, as countries are more integrated in global production processes, a currency depreciation only improves competitiveness of a fraction of the value of final good exports. In line with this intuition, we find evidence that GVC participation reduces the REER elasticity of manufacturing exports by 22 percent, on average.
Depreciations Without Exports Global Value Chains And The Exchange Rate Elasticity Of Exports
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Author : Swarnali Ahmed Hannan
language : en
Publisher:
Release Date : 2017
Depreciations Without Exports Global Value Chains And The Exchange Rate Elasticity Of Exports written by Swarnali Ahmed Hannan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
This paper analyzes how the exchange rate elasticity of exports has changed over time and across countries and sectors, and how the formation of global value chains has affected this relationship. The analysis uses a panel framework covering 46 countries over the period 1996-2012, and first finds evidence that the elasticity of manufacturing export volumes to the real effective exchange rate has decreased over time. The paper then examines whether the formation of supply chains has affected this elasticity using different measures of global value chain integration. Intuitively, as countries are more integrated in global production processes, a currency depreciation only improves the competitiveness of a fraction of the value of final goods exports. In line with this intuition, the analysis finds evidence that the rise of participation in global value chains explains on average 40 percent of the fall in the elasticity, and that corrections of the real effective exchange rate for participation in global value chains do not present the same decreasing pattern in elasticity.
Depreciations Without Exports
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Author : Swarnali Ahmed
language : en
Publisher:
Release Date : 2015
Depreciations Without Exports written by Swarnali Ahmed and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Devaluation of currency categories.
This paper analyzes how the exchange rate elasticity of exports has changed over time and across countries and sectors, and how the formation of global value chains has affected this relationship. The analysis uses a panel framework covering 46 countries over the period 1996-2012, and first finds evidence that the elasticity of manufacturing export volumes to the real effective exchange rate has decreased over time. The paper then examines whether the formation of supply chains has affected this elasticity using different measures of global value chain integration. Intuitively, as countries are more integrated in global production processes, a currency depreciation only improves the competitiveness of a fraction of the value of final goods exports. In line with this intuition, the analysis finds evidence that the rise of participation in global value chains explains on average 40 percent of the fall in the elasticity, and that corrections of the real effective exchange rate for participation in global value chains do not present the same decreasing pattern in elasticity.
Singapore S Export Elasticities
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Author : Ms.Elif Arbatli
language : en
Publisher: International Monetary Fund
Release Date : 2016-03-07
Singapore S Export Elasticities written by Ms.Elif Arbatli and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-03-07 with Business & Economics categories.
Singapore is one of the world’s most open economies, with the size of its trade reaching about 350 percent of its GDP. With the rise of highly diversified cross-border production networks, Singapore has come to play an integral role in the global supply chain with heavy reliance on foreign contents in its exports and production. It has also successfully moved up the value chain, exporting goods with high sophistication and economic complexity. Against this backdrop, in this paper, using disaggregate industry/product level trade data, we revisit Singapore’s export elasticities and find that growing participation in global production chains and rising export complexity are important determinants.
Exchange Rates And Trade
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Author : Mr.Daniel Leigh
language : en
Publisher: International Monetary Fund
Release Date : 2017-03-15
Exchange Rates And Trade written by Mr.Daniel Leigh and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-03-15 with Business & Economics categories.
We examine the stability and strength of the relationship between exchange rates and trade over time using three alternative approaches, mitigating the endogeneity of the relation. We find that both exchange rate pass-through and the price elasticity of trade volumes are largely stable over time. Economic slack and financial conditions affect the relationship, but there is limited evidence that participation in global value chains has significantly changed the exchange rate–trade relationship over time.
Annual Competitiveness Analysis And Impact Estimation Of Exchange Rates On Exports From Sub National Economies Of India
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Author : Khee Giap Tan
language : en
Publisher: World Scientific
Release Date : 2019-08-22
Annual Competitiveness Analysis And Impact Estimation Of Exchange Rates On Exports From Sub National Economies Of India written by Khee Giap Tan and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-08-22 with Business & Economics categories.
Asia Competitiveness Institute (ACI) at the Lee Kuan Yew School of Public Policy (LKYSPP), National University of Singapore (NUS) started producing its flagship analysis of competitiveness covering the sub-national economies of India on an annual basis since 2013. A unique feature of ACI's research comes from an effort to recognise the heterogeneity of India and how the variations in the dynamics of competitiveness pan out at the sub-national level. This book entitled Annual Competitiveness Analysis and Impact Estimation of Exchange Rates on Exports from Sub-National Economies of India not only undertakes a comprehensive and robust analysis of competitiveness in India's 36 sub-national economies but also features an empirical analysis of the impact of exchange rate movements and volatility on exports from sub-national economies of India.Overall, the analysis we provide in this book relating to different dimensions of competitiveness of India's sub-national economies can not only stand up to academic scrutiny as it is grounded in rigorous methodological foundations but also remains accessible and appealing to policymakers as we offer tailored policy recommendations based on our analysis that will enable them to take appropriate policy interventions in their sub-national economies to improve their overall competitiveness.
The Consequences Of Policy Uncertainty
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Author : Sandile Hlatshwayo
language : en
Publisher: International Monetary Fund
Release Date : 2016-09-23
The Consequences Of Policy Uncertainty written by Sandile Hlatshwayo and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-09-23 with Business & Economics categories.
In recent years, the link between the real effective exchange rate (REER) and exports in South Africa has weakened. While exports still rise in response to REER depreciations, the REER-export elasticity is below historical estimates. The literature has put forward a number of possible explanations, from multi-national supply-chains to muted exchange rate pass-through. This research explores the role of policy uncertainty in reducing the responsiveness of exports to relative price changes. We construct a novel “news chatter” measure of policy uncertainty and examine how it, paired with other supply-side constraints, can improve our understanding of export performance. We find that increased policy uncertainty diminishes the responsiveness of exports to the REER and has short and long-run level effects on export performance. Finally, we show that a measure of competitiveness that adjusts for uncertainty and supply-side constraints greatly outperforms the REER in tracking exports performance.
Latin American Economic Outlook 2018 Rethinking Institutions For Development
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2018-04-09
Latin American Economic Outlook 2018 Rethinking Institutions For Development written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-04-09 with categories.
The Latin American Economic Outlook 2018: Rethinking Institutions for Development focuses on how institutions can underpin the foundations of a long period of sustained and inclusive growth and increased well-being. The report begins with an overview of the main macroeconomic challenges ...
Evolving Finance Trade And Investment In Asia
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Author : Tomoo Kikuchi
language : en
Publisher: Routledge
Release Date : 2018-12-07
Evolving Finance Trade And Investment In Asia written by Tomoo Kikuchi and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-12-07 with Business & Economics categories.
The year 2015 witnessed significant events in the area of finance, trade and investment, which brought Asia to the centre of the world stage. The Trans-Pacific Partnership reached its basic agreement among the 12 member countries in October; the Chinese Yuan was included into the Special Drawing Rights basket of currencies at the International Monetary Fund in November; the ASEAN Economic Community came into force; and the Asian Infrastructure Investment Bank was established with the 57 founding members in December. Within and outside the region, there is an urgent need to understand the underlying economic structures that brought about these events, which have global implications. The Centre on Asia and Globalisation at the National University of Singapore launched a series of conferences on ‘Evolving Finance, Trade and Investment in Asia’ with the aim of strengthening research capacity in Asia to influence regional policymaking. Looking forward, the conference will provide an annual platform for scholars to discuss the latest findings and to disseminate them to business leaders and policymakers. This book contains scholarship presented at the inaugural international conference in September 2015, and was originally published as a special issue of the International Economic Journal.
Exchange Rates And Trade
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Author : Mr.Daniel Leigh
language : en
Publisher: International Monetary Fund
Release Date : 2017-03-17
Exchange Rates And Trade written by Mr.Daniel Leigh and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-03-17 with Business & Economics categories.
We examine the stability and strength of the relationship between exchange rates and trade over time using three alternative approaches, mitigating the endogeneity of the relation. We find that both exchange rate pass-through and the price elasticity of trade volumes are largely stable over time. Economic slack and financial conditions affect the relationship, but there is limited evidence that participation in global value chains has significantly changed the exchange rate–trade relationship over time.