经济学留学论文:汇率波动性 [6]
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论文字数:11297论文编号:org201511032137271785语种:英语 English地区:中国价格:免费论文
关键词:贸易自由化capacity utilisation汇率波动
摘要:本文主要讲述了汇率波动和贸易流之间的关系。从理论和实证的角度来看,汇率和波动性之间的关系是模糊的。
lity of the country to participate in world trade, that is the greater the rate of export growth.
Also production capacity, potential productivity, cost effectivesness, production process will all be increased by properly-oriented investment and hence export competitiveness should also increase. Investment is said to enlarge the production base and thus increasing production capacity. It XXXodernizes production processes and thus improving cost effectiveness. It also allows for the production of new and improved products, increasing value added in production. In addition it incorporates international world-class innovations and quality standards. All this leads to an active participation in international trade and favourably affects exports.
Patnaik and Chandrasekhar(1996) in their research analysed cross sectional data for 25 developing countries for 20 years and found a positive relationship between investment-ratio and export growth. FDI is said to foster innovation and competitiveness in the local industry. Moreover it contributes to technological innovation and increased production capacity in the domestic economy. Another import element of investment is foreign direct investment(FDI) which has been argued to be a prominent factor in promoting exports. Horst(1972), Lipsey and Weiss(1984), Head and Ries(2001) and Camarero and Tamarit(2004) are among the authors that find a positive relationship between FDI and trade.
2.2.2.3 产能利用率和贸易——2.2.2.3 Capacity Utilisation and Trade
Capacity utilization refers to the extent to which an enterprise or a nation actually uses its installed productive capacity. Thus, it refers to the relationship between actual output that is produced with the installed equipment and the potential output which could be produced if capacity was fully used. From theoretical and empirical point of view, the relationship between capacity utilisation and exports is ambiguous. On one hand, researchers argue that when firms uses excess capacity, this will increase to a general increase in capacity utilisation and will lead to an increase in output. It will be possible for firms to export more. Productivity also may increase since firms are employing more of their excess capacity. Likewise an increase in foreign capacity utilisation is likely to have a negative impact on domestic exports. This is because an increase in foreign capacity utilisation means firms are able to increase their productivity and output. Also Hooper and Kohlagen(1978) who were the first to introduce capacity utilisation in their model to determine the relationship between exchange rate volatility and exports, argued that as domestic capacity utilisation increases, domestically produced goods are delivered with longer lags and hence decreasing quantity demanded of imports. Likewise an increase in foreign capacity should decrease the demand of exports. Correa, Dayoub and Francisco(2007) in their study found that domestic capacity utilisation positively affect export intensity of Ecuador. On the other hand other authors argue that exports growth is possible mainly in the presence of large unemployment of domestic resources. Dunlevy(1979) and Artus(1977) argued that in the long run an increase in capacity utilisation will reduce the quantity of exports and increase the export prices. However Medhora(1990) found that both domestic a
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