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Exchange rate volatility and aggregate export growth in Bangladesh

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  • M. Kabir Hassan
  • David Tufte

Abstract

The long and short-run determinants of Bangladeshi export growth are examined. These are modelled as depending on world trade volume, Bangladeshi and world export prices, and exchange rate volatility. Several techniques are used to estimate and test hypotheses about the cointegration space of these variables. We find that there are two plausible restricted cointegrating vectors: one appears to be an export demand while the other is suggestive of an export supply. These are then imposed on an error correction model. Estimates suggest that in the long run, Bangladeshi export growth is driven by the volume of world trade, and is negatively, and inelastically related to the volatility of Bangladeshi exchange rates. Once these long-run effects are accounted for, it is found that none of the variables significantly explains any short-run changes in export growth.

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File URL: http://www.tandfonline.com/doi/abs/10.1080/000368498325994
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Bibliographic Info

Article provided by Taylor and Francis Journals in its journal Applied Economics.

Volume (Year): 30 (1998)
Issue (Month): 2 ()
Pages: 189-201

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Handle: RePEc:taf:applec:v:30:y:1998:i:2:p:189-201

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Cited by:
  1. David Kihangire, 2005. "The Effects Of Exchange Rate Variability On Exports: Evidence From Uganda (1988 – 2001)," International Trade 0505013, EconWPA.
  2. Musonda, Anthony, 2008. "Exchange Rate Volatility and Non-Traditional Exports Performance: Zambia, 1965–1999," MPRA Paper 26952, University Library of Munich, Germany.
  3. Yu Hsing & A. M. M. Jamal & Wen-jen Hsieh, 2009. "Application of the monetary policy function to output fluctuations in Bangladesh," Economics Bulletin, AccessEcon, vol. 29(3), pages 2113-2122.
  4. Koi Nyen Wong & Tuck Cheong Tang, 2007. "Exchange Rate Variability And The Export Demand For Malaysia'S Semiconductors: An Empirical Study," Monash Economics Working Papers 13-07, Monash University, Department of Economics.
  5. Ogunleye, Eric Kehinde, 2008. "Natural resource abundance in Nigeria: From dependence to development," Resources Policy, Elsevier, vol. 33(3), pages 168-174, September.
  6. Yuan, Yan & Awokuse, Titus O., 2003. "Exchange Rate Volatility And U.S. Poultry Exports: Evidence From Panel Data," 2003 Annual meeting, July 27-30, Montreal, Canada 22083, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  7. BAAK, SaangJoon, 2008. "The bilateral real exchange rates and trade between China and the U.S," China Economic Review, Elsevier, vol. 19(2), pages 117-127, June.

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