The Exposure of French and South Korean Firms to Exchange Rates and the COVID-19 Pandemic: Evidence from the Stock Market

Willem Thorbecke

Discussion papers from Research Institute of Economy, Trade and Industry (RIETI)

Abstract: Rogoff (2020) predicted that the U.S. dollar will depreciate and that exchange rate volatility will return. The coronavirus crisis has also roiled the world economy. This paper uses stock returns to investigate the exposure of French and Korean firms to exchange rate appreciations and the pandemic. Both France and Korea are major exporters, but Korea has managed the crisis better than France. The results indicate that Korean firms have also come through the pandemic better than French firms. The findings also indicate that the Korean economy is less exposed to appreciations than the French economy. The paper concludes with suggestions to increase firms' resilience to these twin shocks.

Pages: 50 pages
Date: 2021-03
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://www.rieti.go.jp/jp/publications/dp/21e017.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eti:dpaper:21017

Access Statistics for this paper

More papers in Discussion papers from Research Institute of Economy, Trade and Industry (RIETI) Contact information at EDIRC.
Bibliographic data for series maintained by TANIMOTO, Toko ().