Suchergebnisse
Filter
8 Ergebnisse
Sortierung:
World Affairs Online
The new international financial crisis: causes, consequences and perspectives
In: Revista de economia política: Brazilian journal of political economy, Band 31, Heft 2, S. 217-237
ISSN: 1809-4538
VOLATILIDADE CAMBIAL EM TEMPOS DE COVID-19 NOS BRICS: MODELOS ARDL E DE COINTEGRAÇÃO (FMOLS E DOLS)
In: Revista de Economia Mackenzie, Band 21, Heft 1, S. 119-142
ISSN: 1678-5002, 1808-2785
Exchange rate volatility and exports: a panel data analysis
In: Journal of economic studies, Band 43, Heft 2, S. 203-221
ISSN: 1758-7387
Purpose– The purpose of this paper is to empirically investigate the role of real effective exchange rate (REER) volatility on export volume and also to address the impact of the international financial crisis of 2008.Design/methodology/approach– The empirical methodology is based on System GMM estimation for a set of 106 countries for the period of 2000-2011.Findings– For the complete sample of countries and for a set of developing/emerging economies, there is evidence that an increase (decrease) in REER volatility reduces (increases) export volume. The results are not robust once the oil export countries are removed from the sample. The estimated coefficients for the financial crisis dummy are positive and statistically significant, indicating that export volume were 0.14 percent higher after the financial crisis of 2008 compared to the previous period (2000-2007). There is also evidence that the export volume is price (REER) and income (trade weighted) inelastic.Research limitations/implications– The empirical results are valid for the complete set of countries and for developing and emerging economies when including the oil export countries, suggesting that countries should reduce exchange rate volatility in order to foster their export volume and that oil export countries have an important role on these results.Practical implications– The paper suggests that policymakers should adopt different policies to minimize exchange rate volatility if they seek to increase export volume. The international financial crisis had a significant impact on export volume in all estimated models regardless of the set of countries used.Originality/value– One of the main novelties of this work is that it deals with possible endogeneity using GMM estimators and addresses the issue of instrument proliferation, which is not a common feature of previous empirical studies on exchange rate volatility and trade flows. Another original aspect of the research is the construction of trade weighted variables for foreign income and REER based on the major 20 export partners for each country used in the panel data estimation. The work also incorporates the years following the international financial crisis of 2008, which is an additional empirical novelty, in order to address the impact of the international financial crisis on the export volume.
Deshalinamento cambial, volatilidade cambial e crescimento econômico: uma análise para a economia brasileira
In: Brazilian journal of political economy: Revista de economia política, Band 36, Heft 145/4, S. 704-725
ISSN: 0101-3157
World Affairs Online
Exchange Rate Behavior in the BRICS
In: Brazilian journal of political economy: Revista de economia política, Band 44, Heft 1, S. 125-144
ISSN: 1809-4538
ABSTRACT This article aims to investigate the behavior of exchange rate in the BRICS countries, with an emphasis on exchange rate passthrough and exchange rate determination empirical models. By applying the ARDL Bounds Testing Approach Methodology, from January 2005 to December 2019. Our main results show that: i) there is a long run cointegration among the variables analyzed for all estimated models; ii) there is a very slow speed of adjustment towards the long run equilibrium; iii) there is evidence of exchange rate passthrough to inflation mainly in the long run, but not as strong as before; iv) there is no evidence of exchange rate overshooting; v) international reserve accumulation can be considered a partial explanation for the evidence of no exchange rate overshooting.
Indústria e crescimento econômico: evidências para países desenvolvidos e em desenvolvimento
In: Brazilian journal of political economy: Revista de economia política, Band 34, Heft 3, S. 485-502
ISSN: 0101-3157
World Affairs Online
The global financial crisis
In: Brazilian journal of political economy: Revista de economia política, Band 31, Heft 2/122, S. 187-237
ISSN: 0101-3157
Arturo Guillén R.: The effects of the global economic crisis in Latin America. - S. 187-202 Angel Asensio: Macroeconomic trouble and policy challenges in the wake of the financial bust. - S. 203-216 Flávio Vilela Vieira: The new international financial crisis: causes, consequences and perspectives. - S. 217-237
World Affairs Online