The relationship between exchange rate and the volume of exports-an empirical study in Taiwan

• Main Authors: Hsien-Fang, Peng, 彭先芳
• Other Authors: Dr. Mei-Se, Chien
• Format: Others
• Language: zh-TW
• Published: 2010
• Online Access: http://ndltd.ncl.edu.tw/handle/94539666764887644227

碩士 === 國立高雄應用科技大學 === 金融資訊研究所 === 98 === This study is to investigate the relationship between the exchange rate and the volume of exports from Taiwan to Taiwan’s 17 trade partners. Using a variety of time-series methodologies, unit root test, cointegration, and error correction models, the empirical results are summarized as follows: First, the empirical results of Johensen’s cointegration shows there is existing of the long-run equilibrium between exchange rate and the volume of exports from Taiwan to most of these countries, except the UK, Hong Kong, Philippines, Thailand and Vietnam. Second, according to the results of the error correction model, it is no causality between exchange rate and the volume of exports from Taiwan to German, and it is bi-directional between exchange rate and the volume of exports from Taiwan to the US, Korea, Singapore, France and Indonesia. As to the relationship between Malaysia and Taiwan, it is unidirectional running from exchange rate to the volume of exports, but it is vice verse for the other counties.