EXCHANGE RATE AND DETERMINANTS OF EXPORTS IN PERIODS OF FINANCIAL VOLATILITY IN THE NORTH AMERICA FREE TRADE AGREEMENT ZONE,TIPO DE CAMBIO Y DETERMINANTES DE LAS EXPORTACIONES EN PERIODOS DE VOLATILIDAD FINANCIERA EN LA ZONA DEL TRATADO DE LIBRE COMERCIO DE NORTEAMERICA

Mario Alberto Lagunes Perez and Hector Hugo Perez Villarreal

Revista Internacional Administracion & Finanzas, 2016, vol. 9, issue 2, 61-71

Abstract: Ever since the implementation of the North America Free Trade Agreement or NAFTA, the nations that comprise it have experienced adverse economic and financial shocks. Starting with the 2008 financial crisis, there is an observable increase in the volatility of the real exchange rate in several nations, followed by an increasing amount of literature regarding the role of depreciation as a source of export competitiveness. The objective of this non-experimental, quantitative, descriptive and correlational research focuses on a methodological approximation to assess whether there is a statistically meaningful relationship between exchange rate and other variables that could affect the exports of NAFTA member countries, for which a GARCH (p, q) model is used. The results suggest that the real exchange rate of the Chinese Yuan, the income of the US and Chinese imports made by the region are the variables that best explain the behavior of exports of NAFTA members.

Keywords: NAFTA; Exchange Rate; Exports; Competitiveness (search for similar items in EconPapers)
JEL-codes: F02 F15 F31 F53 G15 (search for similar items in EconPapers)
Date: 2016
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