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Singapore’s Trade in Financial and Insurance Services and the Role of the Exchange Rate: An Asymmetric Analysis

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  • Mohsen Bahmani-Oskooee
  • Ferda Halicioglu
  • Huseyin Karamelikli

Abstract

Two studies have assessed the link between the exchange rate and trade in services. While one study concluded that the U.S. insurance and financial service trade is not affected by the exchange rate, another study reversed that finding by applying a non-linear method. We add to this literature by considering Singapore’s experience. After estimating the linear and non-linear ARDL models using Singapore’s imports and exports of insurance and financial service trade, we conclude that changes in the real effective value of the Singapore dollar have both short-run and long-run effects on Singapore’s trade in both services.

Suggested Citation

  • Mohsen Bahmani-Oskooee & Ferda Halicioglu & Huseyin Karamelikli, 2024. "Singapore’s Trade in Financial and Insurance Services and the Role of the Exchange Rate: An Asymmetric Analysis," The International Trade Journal, Taylor & Francis Journals, vol. 38(2), pages 171-183, March.
    • Handle: RePEc:taf:uitjxx:v:38:y:2024:i:2:p:171-183
    DOI: 10.1080/08853908.2023.2165202
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