| Summary: | 碩士 === 淡江大學 === 金融研究所 === 83 === The purpose of this thesis is to examine whether the increasing
volatility of the exchange rates between the NT dollar and the
US dollar brought about adverse effects on Taiwan''s
international trade with her four major and second trade
partners,namely,the United States,Japan,Germany,and the United
Kingdom.An empirical model which incorporates terms expressing
the expected as well as the unexpected component of risks
associated with exchange rate uncertainties is used for the
study.The period from the first quarter of 1979 to the fourth
quarter of 1993 is examined. Important findings are as follows:
The expected component of the exchange rate risk did not
generate any adverse effects to the bilateral trade with all
four trade partners. However, the unexpected part had adversely
affected some of the bilateral trade.These findings suggest
that the establishment of risk hedging facilities might be
important for continuing our prosperity in international trade
in the future.
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