Journal
AFRICAN DEVELOPMENT REVIEW-REVUE AFRICAINE DE DEVELOPPEMENT
Volume 21, Issue 3, Pages 499-513Publisher
WILEY-BLACKWELL PUBLISHING, INC
DOI: 10.1111/j.1467-8268.2009.00220.x
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P>This paper investigates empirically the impact of exchange rate volatility on the trade flows of six countries over the quarterly period of 1980-2005. The impact of a volatility term on trade is examined by using an Engle-Granger residual-based cointegrating technique. The major results show that increases in the volatility of the real exchange rate, approximating exchange-rate uncertainty, exert a significant negative effect on trade for South Korea, Pakistan, Poland and South Africa and a positive effect for Turkey and Hungary in the long run.
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