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Exchange Rate Uncertainty and Export Decisions in the UK

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  • Greenaway, David

    ()
    (University of Nottingham)

  • Kneller, Richard

    ()
    (University of Nottingham)

Abstract

Using data on UK manufacturing firms, we examine the effects of exchange rate uncertainty on firm decisions on export market entry and export intensity. The use of micro data and new measures of exchange rate uncertainty enable us to test for hysteresis effects in a new way and to test the sensitivity of results to a range of different measures. The results show that exchange rate uncertainty has little effect on firms’ export participation but a significant impact on export intensity. We find that industry heterogeneity is important and there would be serious problems of aggregation using pooling and aggregate data.

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Bibliographic Info

Article provided by Center for Economic Integration, Sejong University in its journal Journal of Economic Integration.

Volume (Year): 25 (2010)
Issue (Month): ()
Pages: 734-753

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Handle: RePEc:ris:integr:0524

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Web page: http://econo.sejong.ac.kr/
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Related research

Keywords: Exchange Rate Uncertainty; Export Share; Hysteresis Effects;

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  1. Heckman, James, 2013. "Sample selection bias as a specification error," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 31(3), pages 129-137.
  2. Sourafel Girma & David Greenaway & Richard Kneller, 2004. "Does Exporting Increase Productivity? A Microeconometric Analysis of Matched Firms," Review of International Economics, Wiley Blackwell, vol. 12(5), pages 855-866, November.
  3. Dixit, A., 1988. "Entry And Exit Decisions Under Uncertainty," Papers 91, Princeton, Department of Economics - Financial Research Center.
  4. Patrik Karpaty & Richard Kneller, 2011. "Demonstration or congestion? Export spillovers in Sweden," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 147(1), pages 109-130, April.
  5. Giovanni Dell'Ariccia, 1999. "Exchange Rate Fluctuations and Trade Flows: Evidence from the European Union," IMF Staff Papers, Palgrave Macmillan, vol. 46(3), pages 5.
  6. Campa, Jose M., 2000. "Exchange rates and trade: How important is hysteresis in trade?," IESE Research Papers D/427, IESE Business School.
  7. David Greenaway, & Richard Kneller, & Xufei Zhang, . "Exchange Rates and Exports: Evidence from Manufacturing Firms in the UK," Discussion Papers 07/13, University of Nottingham, GEP.
  8. Peter B. Clark & Shang-Jin Wei & Natalia T. Tamirisa & Azim M. Sadikov & Li Zeng, 2004. "A New Look at Exchange Rate Volatility and Trade Flows," IMF Occasional Papers 235, International Monetary Fund.
  9. Richard Kneller & Mauro Pisu, 2007. "Industrial Linkages and Export Spillovers from FDI," The World Economy, Wiley Blackwell, vol. 30(1), pages 105-134, 01.
  10. David Greenaway & Richard Kneller, 2007. "Industry Differences in the Effect of Export Market Entry: Learning by Exporting?," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 143(3), pages 416-432, October.
  11. Belanger, Denis & Gutierrez, Sylvia & Racette, Daniel & Raynauld, Jacques, 1992. "The impact of exchange rate variability on trade flows: Further results on sectoral U.S. imports from Canada," The North American Journal of Economics and Finance, Elsevier, vol. 3(1), pages 61-82.
  12. David Greenaway & Richard Kneller, 2007. "Firm heterogeneity, exporting and foreign direct investment," Economic Journal, Royal Economic Society, vol. 117(517), pages F134-F161, 02.
  13. McKenzie, Michael D, 1999. " The Impact of Exchange Rate Volatility on International Trade Flows," Journal of Economic Surveys, Wiley Blackwell, vol. 13(1), pages 71-106, February.
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