Investment and the Exchange Rate

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Investment and the Exchange Rate

Author Info

Nucci, F.
Pozzolo, A.F.

Additional information is available for the following registered author(s):

Alberto Franco Pozzolo

Abstract

This paper investigates the relationship between exchange rate fluctuations and the investment decisions of a sample of Italian manufacturing firms. The results support the view that a depreciation of the exchange rate has a positive effect on investment through the revenue channel, and a negative effect through the cost channel.

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Publisher Info
Paper provided by Banca Italia - Servizio di Studi in its series Papers with number 344.

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Length: 43 pages
Date of creation: 1998
Date of revision:
Handle: RePEc:fth:banita:344

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Postal: Banca d'Italia-Servizio Studi-Divisione Biblioteca e Pubblicazioni - Via N azionale, 91 -00184 Rome, Italy.
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Find related papers by JEL classification:
D40 - Microeconomics - - Market Structure and Pricing - - - General
F31 - International Economics - - International Finance - - - Foreign Exchange
E22 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Capital; Investment; Capacity

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Sylvia Gottschalk & R. Barrel & S.G. Hall, 2004. "Foreign direct investment and exchange rate uncertainty in imperfectly competitive industries," Money Macro and Finance (MMF) Research Group Conference 2003 39, Money Macro and Finance Research Group. [Downloadable!]
Other versions:
- Sylvia Gottschalk & Ray Barrell & Stephen Hall, 2004. "Foreign Direct Investment And Exchange Rate Uncertainty In Imperfectly Competitive Industries," Royal Economic Society Annual Conference 2004 64, Royal Economic Society. [Downloadable!]
- Ray Barrell & Stephen Hall & Sylvia Gottschalk, 2003. "Foreign Direct Investment and Exchange Rate Uncertainty in Imperfectly Competitive Industries," NIESR Discussion Papers 220, National Institute of Economic and Social Research. [Downloadable!]
Vincenzo Atella & Gianfranco Atzeni & Pierluigi Belvisi, 2002. "Will The Euro Be Beneficial On Firm’S Investment Behaviour?," Departmental Working Papers 180, Tor Vergata University, CEIS. [Downloadable!]
Luigi Guiso & Fabiano Schivardi, 2000. "Information Spillovers and Factor Adjustment," Temi di discussione (Economic working papers) 368, Bank of Italy, Economic Research Department. [Downloadable!]
Other versions:
- Guiso, L. & Schivardi, F., 2000. "Information Spillovers and Factor Adjustment," Papers 368, Banca Italia - Servizio di Studi.
- Guiso, Luigi & Schivardi, Fabiano, 1999. "Information Spillover and Factor Adjustment," CEPR Discussion Papers 2289, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
Dario Focarelli & Fabio Panetta & Carmelo Salleo, 1999. "Why Do Banks Merge?," Temi di discussione (Economic working papers) 361, Bank of Italy, Economic Research Department. [Downloadable!]
Leonardo Gambacorta, 1999. "What is the Optimal Institutional Arrangement for a Monetary Union?," Temi di discussione (Economic working papers) 356, Bank of Italy, Economic Research Department. [Downloadable!]
Other versions:
- Gambacorta, L., 1999. "What Is the Optimal Institutional Arrangement for a Monetary Union?," Papers 356, Banca Italia - Servizio di Studi.
Stefano Siviero & Daniele Terlizzese & Ignazio Visco, 1999. "Are model-based inflation forecasts used in monetary policymaking? A case study," Temi di discussione (Economic working papers) 357, Bank of Italy, Economic Research Department. [Downloadable!]
Other versions:
- Siviero, S. & Terlizzese, D. & Visco, I., 1999. "Are Model-Based Inflation Forecasts Used in Monetary Policymaking? A Case Study," Papers 357, Banca Italia - Servizio di Studi.
Julia Darby & Andrew Hughes Hallett & Jonathan Ireland & Laura Piscitelli, 2000. "Exchange Rate Uncertainty and Business Sector Investment," Econometric Society World Congress 2000 Contributed Papers 0600, Econometric Society. [Downloadable!]

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