汇率问题研究
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汇率问题研究. Exchange rate and trade balance relationship: the experience of Asean countries. Khim-Sen Liew, Kian-Ping Lim and Huzaimi Hussain (????). Exchange rate and trade balance relationship: the experience of ASEAN countries.

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Exchange rate and trade balance relationship the experience of asean countries

Exchange rate and trade balance relationship: the experience of Asean countries

Khim-Sen Liew, Kian-Ping Lim and Huzaimi Hussain

(????)


Exchange rate and trade balance relationship the experience of asean countries1
Exchange rate and trade balance relationship: the experience of ASEAN countries

  • This study addresses the question of whether exchange rate changes have any significant and direct impact on trade balance

  • They propose that trade balance is affected by real money, rather than nominal exchange rate.

  • In order to cope with trade deficits, the governments of these ASEAN countries might resort to policy measures focusing on the variable of real money


Exchange rate trade balance relationship
Exchange rate-trade balance relationship of ASEAN countries

  • The elasticity model of the balance of trade (Krueger, 1983)

  • In theory, nominal depreciation ( appreciation) of exchange rate is assumed to change the real exchange rate.

  • J-curve

    the trade balances pf ASEAN-5 countries( Indonesia, Malaysia, the Philippines, Singapore and Thailand) with Japan

    weal statistical evidence


Real money effect proposition
Real money effect proposition of ASEAN countries

  • PPP hypothesis

  • Impact of nominal depreciation of domestic exchange rate is transmitted to the trade balance through the real money effect, rather than the nominal exchange rate effect


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