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The Impact of the Exchange Rate Regime on Exports: Evidence from the European Monetary System

Author

Listed:
  • Stilianos Fountas
  • Kyriacos Aristotelous

    (Department of Economics, National University of Ireland, Galway)

Abstract

We employ the econometric techniques of multivariate cointegration and error-correction models to investigate the impact of the creation of the European Monetary System (EMS) on the volume of intra-European Union (EU) exports for eight EU countries. We find that for France, Germany and Ireland, the EMS boosted the volume of intra-EU exports. In the rest of the countries, there has not been a significant effect. Another important result is that exchange rate volatility had no statistically significant long-run or short-run effect on the volume of intra-EU exports in the majority of the countries in our study.

Suggested Citation

  • Stilianos Fountas & Kyriacos Aristotelous, 1999. "The Impact of the Exchange Rate Regime on Exports: Evidence from the European Monetary System," Working Papers 38, National University of Ireland Galway, Department of Economics, revised 1999.
  • Handle: RePEc:nig:wpaper:0038
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    File Function: Revised version, 1999
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    Cited by:

    1. Gil-Pareja, Salvador & Llorca-Vivero, Rafael & Martínez-Serrano, José Antonio, 2008. "Trade effects of monetary agreements: Evidence for OECD countries," European Economic Review, Elsevier, vol. 52(4), pages 733-755, May.
    2. Gil-Pareja, Salvador & Llorca-Vivero, Rafael & Martinez-Serrano, Jose Antonio, 2007. "Did the European exchange-rate mechanism contribute to the integration of peripheral countries?," Economics Letters, Elsevier, vol. 95(2), pages 303-308, May.
    3. Adedotun Joseph Adenigbo & Joash Mageto & Rose Luke, 2023. "Effect of shipping trade on economic growth in Nigeria: the Vector Error Correction Model (VECM) approach," Journal of Shipping and Trade, Springer, vol. 8(1), pages 1-18, December.
    4. Pasrun Adam & Pasrun Adam & Rosnawintang Rosnawintang & Ambo Wonua Nusantara & Abd Aziz Muthalib, 2017. "A Model of the Dynamic of the Relationship between Exchange Rate and Indonesia's Export," International Journal of Economics and Financial Issues, Econjournals, vol. 7(1), pages 255-261.

    More about this item

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade

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