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The impact of real effective exchange rate on non-oil exports in Azerbaijan

Author

Listed:
  • Farida Valiyeva

    (Central Bank of Azerbaijan Republic)

Abstract

The paper examines the effect of the real effective exchange rate on non-oil exports in Azerbaijan. The estimation was carried out using the vector autoregressive (VAR) model using quarterly time series data for 2005-2022. The results show that the relationship between the real effective exchange rate and real non-oil export performance is not statistically significant. Although there was an inverse relationship between REM and non-oil exports in certain periods, this relationship disappeared after the shocks that occurred in the economy in different periods. Thus, these shocks to the economy have caused a disruption in the relationship between REM and non-oil exports.

Suggested Citation

  • Farida Valiyeva, 2023. "The impact of real effective exchange rate on non-oil exports in Azerbaijan," Working Papers 2301, Central Bank of Azerbaijan Republic.
    • Handle: RePEc:aze:wpaper:2301
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    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General

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