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How sensitive are Britain's inpayments and outpayments to the value of the British pound

Author

Listed:
  • Mohsen Bahmani‐Oskooee
  • Claire Economidou
  • Gour Gobinda Goswami

Abstract

Purpose - To avoid aggregation bias by using trade data at bilateral level so that we can determine how sensitive are Britain's inpayments and outpayments to the value of the British pound. Design/methodology/approach - The method is based on the bounds testing approach to cointegration and error‐correction modeling. Findings - The main finding is that while UK inpayments are not sensitive to the exchange rate, her outpayments are. Research limitations/implications - Future research must concentrate on disaggregating data further, perhaps at commodity level. Practical implications - The results could be used to identify Britain's trading partners against which Britain can devalue the pound and improve her trade balance. Originality/value - No study has attempted to test the impact of real depreciation of the pound on Britain's payments and receipts with her major trading partners.

Suggested Citation

  • Mohsen Bahmani‐Oskooee & Claire Economidou & Gour Gobinda Goswami, 2005. "How sensitive are Britain's inpayments and outpayments to the value of the British pound," Journal of Economic Studies, Emerald Group Publishing Limited, vol. 32(6), pages 455-467, December.
    • Handle: RePEc:eme:jespps:01443580510631360
    DOI: 10.1108/01443580510631360
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