Exchange rate depreciation and exports: The case of Singapore revisited

WenShwo Fang and Stephen Miller

No 2004-45, Working papers from University of Connecticut, Department of Economics

Abstract: This paper revisits the weak relationship between exchange rate depreciation and exports for Singapore, using a bivariate GARCH-M model that simultaneously estimates time-varying risk. The evidence shows that depreciation does not significantly improve exports, but that exchange rate risk significantly impedes exports. In sum, Singaporean policy makers can better promote export growth by stabilizing the exchange rate rather than generating its depreciation.

Keywords: depreciation; exchange rate risk; exports; bivariate GARCH-M model (search for similar items in EconPapers)
JEL-codes: F14 F31 (search for similar items in EconPapers)
Pages: 12 pages
Date: 2004-12
New Economics Papers: this item is included in nep-fmk, nep-ifn and nep-sea
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

Published in Applied Economics, February 2007.

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Journal Article: Exchange rate depreciation and exports: the case of Singapore revisited (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:uct:uconnp:2004-45

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