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How sensitive are Britain's inpayments and outpayments to the value of the British pound

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Author Info

  • Mohsen Bahmani-Oskooee
  • Claire Economidou
  • Gour Gobinda Goswami

Abstract

Purpose – To avoid aggregation bias by using trade data at bilateral level so that we can determine how sensitive are Britain's inpayments and outpayments to the value of the British pound. Design/methodology/approach – The method is based on the bounds testing approach to cointegration and error-correction modeling. Findings – The main finding is that while UK inpayments are not sensitive to the exchange rate, her outpayments are. Research limitations/implications – Future research must concentrate on disaggregating data further, perhaps at commodity level. Practical implications – The results could be used to identify Britain's trading partners against which Britain can devalue the pound and improve her trade balance. Originality/value – No study has attempted to test the impact of real depreciation of the pound on Britain's payments and receipts with her major trading partners.

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Bibliographic Info

Article provided by Emerald Group Publishing in its journal Journal of Economic Studies.

Volume (Year): 32 (2005)
Issue (Month): 5 (October)
Pages: 455-467

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Handle: RePEc:eme:jespps:v:32:y:2005:i:5:p:455-467

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Related research

Keywords: Currency accounting; Financial management; International trade; Trade balances; United Kingdom;

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Citations

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Cited by:
  1. Ketenci, Natalya, 2013. "The effect of global financial crisis on trade elasticities: Evidence from BRIICS countries and Turkey," MPRA Paper 54659, University Library of Munich, Germany.
  2. Bahmani-Oskooee, Mohsen & Harvey, Hanafiah & Hegerty, Scott W., 2014. "Industry trade and exchange-rate fluctuations: Evidence from the U.S. and Chile," International Review of Economics & Finance, Elsevier, vol. 29(C), pages 619-626.
  3. Bahmani-Oskooee, Mohsen & Xi, Dan, 2012. "Exchange rate volatility and domestic consumption: Evidence from Japan," Economic Systems, Elsevier, vol. 36(2), pages 326-335.
  4. Cortes, Maria, 2007. "Examining Patterns of Bilateral Trade between Australia and Colombia by Using Cointegration Analysis and Error-Correction Models," Economics Working Papers wp07-20, School of Economics, University of Wollongong, NSW, Australia.
  5. Mohsen Bahmani-Oskooee & Rajarshi Mitra, 2009. "The J-Curve at the industry level: evidence from U.S.-India trade," Economics Bulletin, AccessEcon, vol. 29(2), pages 1520-1529.
  6. Bahmani-Oskooee, Mohsen & Bolhassani, Marzieh & Hegerty, Scott W., 2011. "Industry trade between Canada and Mexico: Will a weakening peso help Mexican manufacturing in the long run?," The North American Journal of Economics and Finance, Elsevier, vol. 22(2), pages 89-101, August.

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