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Identifier to cite or link to this item: https://hdl.handle.net/10086/16259

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Title
The Influence of Intra-Industry Trade on Export Sensitivity to Exchange Rates
Creator
Creator Name
Oguro, Yoko Oguro, Yoko
小黒, 曜子 小黒, 曜子
オグロ, ヨウコ オグロ, ヨウコ
Affiliation
Affiliation Name
Hitotsubashi University
Affiliation
Affiliation Name
the Japan Society for the Promotion of Science (DC2)
Editor
Contributor Name
社会科学における統計分析拠点構築 = Research Unit for Statistical Analysis in Social Sciences
Key Word
Trade
Exchange rates
Intra-industry trade
JEL
F00
F10
F14
F19
Abstract
This paper adds to the literature that suggests that exports become less sensitive to exchange rate movements under certain circumstances. Focusing on the industry-specific sensitivity of export quantities to exchange rates in the context of intra-industry trade (IIT), this paper theoretically and empirically investigates this relationship. It is assumed that more IIT implies a smaller elasticity of substitution among differentiated products and vice versa. The model presented suggests that the gap in production costs has an influence on IIT as well. The empirical analysis investigates six cross-country industry-panels for the bilateral trade of eight East Asian countries, Japan, and the United States with the EU, Asia, Japan, and North America. The results confirm that export sensitivity to exchange rates declines as the extent of IIT increases. The policy implication of the results is that exchange rate revaluations become a less powerful tool to redress trade imbalances when substantial IIT exists.
Description
First version: October 2007; This version: February 2008
Publisher
Institute of Economic Research, Hitotsubashi University
Issued Date
2008-02
Language
English(eng)
Resource Type
technical report
Version Type
VoR
Is Part OfRelation -
Related Title
Hi-Stat Discussion paper series, No. 222
ReplacesRelation -
Related Identifier
HDL
  http://hdl.handle.net/10086/15114
Relation
Related Title
This is a revised version of http://hdl.handle.net/10086/15114.
Related Identifier
URI
  http://21coe.ier.hit-u.ac.jp/english/index.html
Sponsorship
21世紀COEプログラム = 21st-Century COE Program
Edition
Revised Version: February, 2008
Appears in Collections
Hi-Stat Discussion paper series
URL
https://hdl.handle.net/10086/16259