Does black market exchange rate volatility deter the trade flows? Iranian experience
Mohsen Bahmani-Oskooee ()
Applied Economics, 2002, vol. 34, issue 18, 2249-2255
Previous studies that investigated the impact of exchange rate volatility on the trade flows, employed official exchange rate data to construct a measure of exchange rate uncertainty. In this paper we show that in countries that there is a black market for foreign exchange, the black market exchange rate volatility could have adverse effect on the trade flows. We show this by using data from Iran and cointegration analysis.
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