EXCHANGE-RATE VOLATILITY, INTERNATIONAL-TRADE, AND THE VALUE OF EXPORTING FIRMS

被引：89

作者：

SERCU, P

VANHULLE, C

机构：

[1] EUROPEAN INST ADV STUDIES MANAGEMENT,BRUSSELS,BELGIUM

[2] UFSIA,ANTWERP,BELGIUM

[3] ICHEC,BRUSSELS,BELGIUM

来源：

JOURNAL OF BANKING & FINANCE | 1992年 / 16卷 / 01期

关键词：

D O I：

10.1016/0378-4266(92)90083-C

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

Increased exchange rate volatility positively affects the value of exporting firms via the price and volume impacts of exchange rates, and also makes an exporting strategy more attractive relative to the direct investment. Investment in export production capacity could therefore be a positive function of exchange rate volatility. Firms would also be more willing to sustain losses (i.e., to engage in dumping) before they abandon their export markets. The effect on the volume and value of trade is ambiguous.

引用

页码：155 / 182

页数：28

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