Kazakhstan trade with its partners and the role of tenge: an asymmetric analysis

Mohsen Bahmani-Oskooee, Hanafiah Harvey () and Amr Hosny
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Hanafiah Harvey: Pennsylvania State University, Mont Alto

Eurasian Economic Review, 2019, vol. 9, issue 4, No 4, 493-513

Abstract: Abstract Previous research has shown that lack of any short-run and long-run relationship between the trade balance and the exchange rate could be due to ignoring non-linear adjustment of the exchange rate. In this paper, we introduce non-linearity of the exchange rate adjustment and consider the asymmetric response of Kazakhstan’s trade balance with each of its 13 trading partners. While we find short-run asymmetric response in almost all 13 models, short-run asymmetric effects translate into the long run only in the trade with Austria, China, France, and the U.S. Only in the trade with France a tenge depreciation had favorable long-run effects.

Keywords: Trade balance; Exchange rate; Asymmetry effects; Kazakhstan; 13 partners (search for similar items in EconPapers)
Date: 2019
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DOI: 10.1007/s40822-018-0116-2

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