Currency invoicing in Norwegian salmon export

Hans-Martin Straume ()
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Hans-Martin Straume: Department of Economics, University of Bergen

No 11/13, Working Papers in Economics from University of Bergen, Department of Economics

Abstract: The purpose of this paper is to examine the choice of currency for Norwegian salmon exporters. The choice of invoicing currency will affect prices in different markets as well as risk, factors that are becoming increasingly important as the supply chain for salmon is becoming more sophisticated, and more transactions mechanisms introduced. The results indicate that destination specific market characteristics have impacts as to the choice of invoicing strategy. Norwegian salmon exporters primarily invoice in the export market currency (47% of the exported quantity), but also use a vehicle currency and producer pricing (19%) in a significant number of transactions. Euro is the preferred vehicle currency (18%), closely followed by USD (16%). USD is the dominating invoicing currency for exports beyond Europe.

Keywords: Invoicing currency; salmon; exchange rates; multinomial logit (search for similar items in EconPapers)
JEL-codes: F14 Q22 (search for similar items in EconPapers)
Pages: 24 pages
Date: 2013-12-18
New Economics Papers: this item is included in nep-dcm and nep-int
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Persistent link: https://EconPapers.repec.org/RePEc:hhs:bergec:2013_011

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