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The effects of exchange-rate volatility on industry trade between the US and Egypt

Mohsen Bahmani-Oskooee (), Scott Hegerty () and Amr Hosny ()

Economic Change and Restructuring, 2015, vol. 48, issue 2, 93-117

Abstract: Recent instability in Egypt has brought attention to the role of risk in this important economy. At the same time, there is room in the ever-expanding literature on the link between exchange-rate volatility and trade flows, particularly for individual commodities, in Egypt. This study examines 36 separate export and import industries vis-à-vis the United States, from 1994 to 2007. An application of cointegration analysis and error-correction modeling finds evidence of long-run relationships for many import and export industries, with exports increasing due to higher risk in a large proportion of cases. Although most industries, particularly in imports, are nevertheless unaffected, our results differ from other studies in the literature. An analysis of our industry-level results shows that chemical imports, and exports of industries with large trade shares, are more likely to increase than are other products or imports. Copyright Springer Science+Business Media New York 2015

Keywords: Exchange rate volatility; Industry data; Egypt; United States; Bounds testing; F31 (search for similar items in EconPapers)
Date: 2015
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