Exchange-rate risk and exports: evidence from a set of transition economies
This article investigates the hypothesis that exchange-rate risk may have an effect on exports for a set of transition countries, namely, Belarus, Kazakhstan, Russia, and Ukraine. To assess this effect, although a two-step estimation approach has earned an extensive empirical record in the literatur...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Taylor & Francis
2014
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| Online Access: | http://psasir.upm.edu.my/id/eprint/37552/1/Exchange.pdf |
| _version_ | 1796973167275671552 |
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| author | Hasanov, Akram Shavkatovich Baharumshah, Ahmad Zubaidi |
| author_facet | Hasanov, Akram Shavkatovich Baharumshah, Ahmad Zubaidi |
| author_sort | Hasanov, Akram Shavkatovich |
| collection | UPM |
| description | This article investigates the hypothesis that exchange-rate risk may have an effect on exports for a set of transition countries, namely, Belarus, Kazakhstan, Russia, and Ukraine. To assess this effect, although a two-step estimation approach has earned an extensive empirical record in the literature, a number of studies in this context do not appear to support this approach due to a potential generated regressor issue. This dissonance in a two-step estimation procedure seems to have been somewhat resolved by a relatively new branch of empirical approach that exploits a multivariate version of generalized autoregressive conditional heteroskedasticity in-mean models. The findings suggest that the effect of exchange-rate risk seems to be detrimental in Belarus and Ukraine. However, for Russia and Kazakhstan, which are heavily dependent on crude oil exports, the effect has been found to be indeterminate. |
| first_indexed | 2024-03-06T08:38:42Z |
| format | Article |
| id | upm.eprints-37552 |
| institution | Universiti Putra Malaysia |
| language | English |
| last_indexed | 2024-03-06T08:38:42Z |
| publishDate | 2014 |
| publisher | Taylor & Francis |
| record_format | dspace |
| spelling | upm.eprints-375522015-09-16T23:36:01Z http://psasir.upm.edu.my/id/eprint/37552/ Exchange-rate risk and exports: evidence from a set of transition economies Hasanov, Akram Shavkatovich Baharumshah, Ahmad Zubaidi This article investigates the hypothesis that exchange-rate risk may have an effect on exports for a set of transition countries, namely, Belarus, Kazakhstan, Russia, and Ukraine. To assess this effect, although a two-step estimation approach has earned an extensive empirical record in the literature, a number of studies in this context do not appear to support this approach due to a potential generated regressor issue. This dissonance in a two-step estimation procedure seems to have been somewhat resolved by a relatively new branch of empirical approach that exploits a multivariate version of generalized autoregressive conditional heteroskedasticity in-mean models. The findings suggest that the effect of exchange-rate risk seems to be detrimental in Belarus and Ukraine. However, for Russia and Kazakhstan, which are heavily dependent on crude oil exports, the effect has been found to be indeterminate. Taylor & Francis 2014 Article PeerReviewed application/pdf en http://psasir.upm.edu.my/id/eprint/37552/1/Exchange.pdf Hasanov, Akram Shavkatovich and Baharumshah, Ahmad Zubaidi (2014) Exchange-rate risk and exports: evidence from a set of transition economies. Problems of Economic Transition, 57 (1). pp. 80-101. ISSN 1061-1991; ESSN: 1557-931X 10.2753/PET1061-1991570105 |
| spellingShingle | Hasanov, Akram Shavkatovich Baharumshah, Ahmad Zubaidi Exchange-rate risk and exports: evidence from a set of transition economies |
| title | Exchange-rate risk and exports: evidence from a set of transition economies |
| title_full | Exchange-rate risk and exports: evidence from a set of transition economies |
| title_fullStr | Exchange-rate risk and exports: evidence from a set of transition economies |
| title_full_unstemmed | Exchange-rate risk and exports: evidence from a set of transition economies |
| title_short | Exchange-rate risk and exports: evidence from a set of transition economies |
| title_sort | exchange rate risk and exports evidence from a set of transition economies |
| url | http://psasir.upm.edu.my/id/eprint/37552/1/Exchange.pdf |
| work_keys_str_mv | AT hasanovakramshavkatovich exchangerateriskandexportsevidencefromasetoftransitioneconomies AT baharumshahahmadzubaidi exchangerateriskandexportsevidencefromasetoftransitioneconomies |