The effect of foreign currency borrowing and financial development on exports: a dynamic panel analysis on Asia-Pacific countries.
This paper examines the effect of foreign currency borrowing and financial development on exports. A balanced panel data is constructed for the selected 17 East Asian-Pacific countries, and the cointegration relationship among the variables of the export demand function is verified using Pedroni's h...
| Publicado en: | Journal of the Asia Pacific Economy Vol. 18; no. 3; pp. 460 - 477 |
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| Autores principales: | , , |
| Formato: | Artículo |
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Taylor & Francis Ltd
Aug2013
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=88260777&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 88260777 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 13547860 5BJ jtl: Journal of the Asia Pacific Economy issn: 13547860 maglogo: N pubinfo: dt: Aug2013 vid: 18 iid: 3 pid: 377 pub: Taylor & Francis Ltd artinfo: ui: 88260777 10.1080/13547860.2012.742707 ppf: 460 ppct: 17 formats: tig: atl: The effect of foreign currency borrowing and financial development on exports: a dynamic panel analysis on Asia-Pacific countries. aug: au: Tang, KinBoon Tan, HuiBoon Naseem, NiazAhmad Mohd affil: Faculty of Arts and Social Sciences, Nottingham University Business School, The University of Nottingham Malaysia Campus, Jalan Broga, Semenyih, Selangor, Malaysia Department of Economics, Faculty of Economics and Management, Universiti Putra Malaysia, Selangor, Malaysia su: International trade Econometrics Financial crises Foreign exchange rates Capital movements sug: subj: International trade Econometrics Financial crises International Trade Financing Foreign exchange rates Capital movements keyword: C23 export demand function F31 F41 financial development foreign currency borrowing panel cointegration C23 export demand function F31 F41 financial development foreign currency borrowing panel cointegration ab: This paper examines the effect of foreign currency borrowing and financial development on exports. A balanced panel data is constructed for the selected 17 East Asian-Pacific countries, and the cointegration relationship among the variables of the export demand function is verified using Pedroni's heterogeneous panel cointegration tests. The empirical results indicate that the effect of foreign debt on exports is conditional on the magnitude of currency depreciation. The larger the depreciation of a currency, the more its exports are adversely affected by its foreign liability. This finding might be a possible explanation as to why large exchange rate depreciation during the 1997 financial crisis failed to generate the export boom. The results also show different effects of financial shocks on exports in these economies. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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