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The Asian Currency Crisis and Australian Exports to East Asia


  • Gunawardana, Pemasiri

    (School of Applied Economics and Centre for Strategic Economic Studies, Victoria University, Melbourne, VIC 8001)


The determinants of and the impact of the Asian currency crisis on Australia's total merchandise exports to nine East Asian countries are analysed using a modified gravity model. The results show that real GDP and per capita real GDP of East Asian countries have positive and significant impacts, while real exchange depreciation and tariff rates of East Asian countries have negative and significant impacts on Australia's exports to East Asian countries. Australia's export to East Asian countries are significantly higher since these countries gained APEC membership. Australia's exports to all of the crisis-ravaged East Asian countries, except Thailand, were significantly higher in 1998 than in previous years. The analysis also shows that there is significant scope for Australia to expand its exports to China and Hong Kong, while there may be some opportunity for Australia to increase its exports to Indonesia, Malaysia, the Philippines, South Korea and Thailand.

Suggested Citation

  • Gunawardana, Pemasiri, 2005. "The Asian Currency Crisis and Australian Exports to East Asia," Economic Analysis and Policy, Elsevier, vol. 35(1-2), pages 73-90, March/Sep.
  • Handle: RePEc:eee:ecanpo:v:35:y:2005:i:1-2:p:73-90

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    Cited by:

    1. Abarcar, Paolo, 2017. "The return motivations of legal permanent migrants: Evidence from exchange rate shocks and immigrants in Australia," Journal of Economic Behavior & Organization, Elsevier, vol. 144(C), pages 62-77.
    2. Seok, Jun Ho & Saghaian, Sayed & Reed, Michael R., 2018. "The ‘Signaling Effect’ and the impact of high maximum residue limit standards on U.S. vegetable exports," Economic Analysis and Policy, Elsevier, vol. 59(C), pages 150-159.

    More about this item


    Crisis; Currency Crisis; Exports; GDP;

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations


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