Asymmetric Impact of Exchange Rate Volatility on Commodity Trade Between Pakistan and China

被引：27

作者：

Bahmani-Oskooee, Mohsen ^{[1
]}

Usman, Ahmed ^{[2
]}

Ullah, Sana ^{[3
]}

机构：

[1] Univ Wisconsin, Ctr Res Int Econ, POB 413, Milwaukee, WI 53201 USA

[2] Govt Coll Univ, Dept Econ, Faisalabad, Pakistan

[3] Quiad I Azam Univ, Sch Econ, Islamabad, Pakistan

来源：

GLOBAL BUSINESS REVIEW | 2023年 / 24卷 / 03期

关键词：

Exchange rate volatility; commodity trade; asymmetry effects; Pakistan; China; INTERNATIONAL-TRADE; J-CURVE; STOCK-MARKET; EXPORTS; LEVEL; FLOWS;

D O I：

10.1177/0972150920916287

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

China is the largest trading partner of Pakistan. Therefore, it is very important to consider the trade flows between Pakistan and China and their response to rupee-yuan volatility. Previous research assumed that response of trade flows to measure of volatility is symmetric. In this study, our basic objective is to check whether the trade flows respond to volatility in a symmetric or asymmetric manner. Annual data over the period 1980-2018 for 14 Pakistani industries exporting to and 34 industries importing from China are analyzed. We find short-run asymmetric effects of exchange rate volatility in almost all industries that last into long-run asymmetric effects in 40-50 per cent of industries. Non-linear models yielded more significant effects of volatility than the traditional linear models.

引用

页码：510 / 534

页数：25

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