Exchange Rate Fluctuations on Taiwan LED Raw Materials.

• Main Authors: Chung-Yu Yeh, 葉重余
• Other Authors: Jui-Fang Chang
• Format: Others
• Language: zh-TW
• Published: 2018
• Online Access: http://ndltd.ncl.edu.tw/handle/4gexm8

碩士 === 國立高雄應用科技大學 === 國際企業系碩士在職專班 === 106 === The world is under global energy depletion crisis. As there is no new clean and efficient energy alternative, the only way is to continue developing more efficient energy saving device to lessen the crisis of energy depletion. Light-Emitting Diode or LED has the advantage of high efficiency, low consumption, long life and durability. Though the technology and application have improve rapidly in recent years, Taiwan does not produce LED raw materials. As a result, the raw materials are imported mostly. Taiwan is more advanced in epitaxy process and so has remarkable export volume. The frequent import and export activities have made the question, whether or not exchange rate fluctuation will affect the import and export volume, worthy of discussion. This study focus on the effect of Euro, US dollar, Japanese yen and RMB exchange rates on import and export of LED in Taiwan. In terms of import and export of LED, this study uses the dollar amount of LED raw material import and export as a factor for discussion. Unit Root Test, Cointegration Test, Granger Causality Test, Vector Autoregression Model and Impulse Response Analysis are utilized as methods of study. The study duration is from 2009 to 2017 with 108 monthly records. This study found LED raw material import and export dollar amount has no cointegration relationship with the exchange rates of Euro, US dollar, Japanese Yen and RMB. Granger causality test and vector autoregression model results are the following. Import dollar amount is adversely affected by Euro exchange rate. Import dollar amount is positively affected by US dollar exchange rate. RMB is positively affected by export dollar amount. As a result, the increase of exchange rate fluctuation will stimulate the import and export (dollar amount).