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Does the Exchange Rate Regime Affect Export Volumes? Evidence from Bilateral Exports in the US-UK trade: 1900-1998
Fountas, Stilianos
By utilizing the techniques of multivariate cointegration and error correction models, we investigate the impact of the different exchange-rate regimes that spanned the 20th century on the bilateral exports between the UK and the US over the last 98 years. Our results support two conclusions. First, fixed exchange-rate regimes and managed float exchange-rate regimes are equally conducive to trade. Second, freely floating exchange-rate regimes are more conducive to trade than fixed exchange-rate regimes.
Keyword(s): Economics; Exchange rate regime; Exchange rate variability; Trade volume
Publication Date:
Type: Working paper
Peer-Reviewed: Yes
Language(s): English
Institution: NUI Galway
Publisher(s): National University of Ireland, Galway
File Format(s): application/pdf
First Indexed: 2015-11-10 09:23:43 Last Updated: 2015-11-10 09:23:43