Advanced Search
MyIDEAS: Login to save this article or follow this journal

Relation entre le taux de change et les exportations nettes : test de la condition Marshall-Lerner pour le Canada

Contents:

Author Info

  • Morel, Louis

    (Département des recherches)

  • Perron, Benoit

    (Département de sciences économiques)

Abstract

The purpose of this study is to empirically analyze the response of Canadian net exports to variations in the Canadian multilateral exchange rate. Economic theory suggests that if the sum of import and export elasticities is greater than one, a real currency depreciation will imply an increase in net exports, the so-called Marshall-Lerner condition. By estimating a net exports model, using four different cointegration techniques and data from the first quarter of 1980 to the first quarter of 2002, our study confirms the empirical validity of the Marshall-Lerner condition for Canada. This result is robust to the cointegration technique employed and to the foreign real GDP measure used. Our results also show that net exports of services are more sensitive to real exchange rate fluctuations than net exports of goods. However, the response of net exports to changes in Canadian real GDP and changes in foreign real GDP is sensitive to the foreign GDP measure and to the estimation technique used. Le but de la présente étude est d’analyser empiriquement la réponse des exportations nettes canadiennes aux variations du taux de change multilatéral canadien. La théorie économique nous suggère que, si la somme des élasticités des importations et des exportations est supérieure à un, une dépréciation réelle de la devise entraîne une hausse des exportations nettes. Ceci est mieux connu sous le nom de la condition Marshall-Lerner. En estimant un modèle d’exportations nettes, par quatre différentes méthodes de coïntégration et en utilisant des données allant du premier trimestre de 1980 au premier trimestre de 2002, notre étude confirme la validité empirique de la condition Marshall-Lerner au Canada. Ce résultat est robuste peu importe la méthode de coïntégration utilisée et peu importe la mesure du PIB réel étranger utilisée. Nos résultats montrent également que les exportations nettes de services sont plus sensibles aux variations du taux de change réel que les exportations nettes de biens. Finalement, la réponse des exportations nettes aux variations du PIB réel canadien et du PIB réel étranger est sensible à la mesure du PIB étranger utilisée, ainsi qu’à la méthode d’estimation utilisée.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://id.erudit.org/iderudit/010563ar
Download Restriction: no

Bibliographic Info

Article provided by Société Canadienne de Science Economique in its journal L'Actualité économique.

Volume (Year): 79 (2003)
Issue (Month): 4 (Décembre)
Pages: 481-502

as in new window
Handle: RePEc:ris:actuec:v:79:y:2003:i:4:p:481-502

Contact details of provider:
Email:
Web page: http://www.scse.ca/
More information through EDIRC

Related research

Keywords:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Chassem, Nacisse Palissy, 2011. "Effets de long terme du taux de change réel sur la balance commerciale nominale et réelle en zone Franc africaine
    [Long-run effects of real exchange rate on the nominal and real trade balance in
    ," MPRA Paper 30252, University Library of Munich, Germany.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:ris:actuec:v:79:y:2003:i:4:p:481-502. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Bruce Shearer).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.