Can financial marketization mitigate the negative effect of exchange rate fluctuations on exports? Evidence from Chinese regions

Finance Research Letters - Tập 34 - Trang 101250 - 2020
Brian Lucey1,2,3, Wang Xiaoxue4, Wang Yanfang4, Xu Ying4
1Trinity Business School, Trinity College Dublin, Dublin 2, Ireland
2Institute of Business Research, University of Economics Ho Chi Minh City, Ho Chi Minh City, Vietnam
3University of Sydney Business School, Sydney, New South Wales, Australia
4Tianjin University of Finance and Economics, Tianjin, China

Tài liệu tham khảo

Antonakakis, 2013, Forecasting volatility in developing countries’ nominal exchange returns, J. Appl. Financ. Econ., 23, 1675, 10.1080/09603107.2013.844323 Baek, 2013, Does the exchange rate matter to bilateral trade between Korea and Japan? Evidence from commodity trade data, Econ. Modell., 30, 856, 10.1016/j.econmod.2012.11.020 Broda, 2010, 20 Cao, 2016, An empirical research on RMB exchange rate fluctuations, neighboring countries effects and bilateral trades: based on special panel data model for China and “One Belt and One Road” countries, J. Financ. Res., 435, 50 Fan, 2016, 58 Gu, 2007, Analysis of the impact of RMB exchange rate fluctuation on China's import and export, J. World Econ., 10, 49 Greenaway, 2007, Financial factors and exporting decisions, J. Int. Econ., 73, 377, 10.1016/j.jinteco.2007.04.002 Héricourt, J., Poncet, S., 2013. Exchange rate volatility, financial constraints, and trade: empirical evidence from Chinese firms. CESifo Working Paper Series 4303, CESifo Group Munich. Hooper, 1978, The effect of exchange rate uncertainty on the prices and volume of international trade, J. Int. Econ., 8, 483, 10.1016/0022-1996(87)90001-8 Jia, 2014, Trade openness and economic growth: are examination based on different model specifications and instrumental variable strategies, J. Int. Trade, 4, 14 Lv, 2015, Financial development, financial constraints and regional export in china, J. Econ. Manag., 2, 107 Liu, 2017, Credit constraints, export mode and trade upgrading, J. Econ. Res., 5, 75 Ma, 2005, China's trade balance, trade structure and real effective exchange rate (REER)of RMB.J, Quant. Tech. Econ., 6, 23 Mao, 2013, Financing constraints, financial development and enterprise export behavior, J. Shanxi Univ. Finance Econ., 4, 9 Sauer, 2001, Exchange rate volatility and exports: regional difference between developing and industrialized countries, J. Rev. Int. Econ, 9, 133, 10.1111/1467-9396.00269 Tan, 2016, Exchange rate volatility, financial marketization and export, J. Financ. Res., 3, 15 Xu, 2016, The repressive effect of exchange rate fluctuations on financial development when they impact exports, Econ. Sci., 6, 34 Yan, 2016, Real effective exchange rate and regional economic growth in China: evidence from provincial data, China World Econ., 24, 43, 10.1111/cwe.12180