The Impact of the Exchange Rate Regime on Exports: Evidence from Bilateral Exports in the European Monetary System

Stilianos Fountas and Konstantinos N. Segredakis
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Konstantinos N. Segredakis: Department of Economics, National University of Ireland, Galway

No 40, Working Papers from National University of Ireland Galway, Department of Economics

Abstract: employing the techniques of multivariate cointegration and error-correction models, we investigate the impact of the creation of the European Monetary System (EMS) on the exports of the four largest EU countries to each other. Our findings suggest that the impact of the EMS on bilateral intra-EU exports has been mixed. The EMS boosted bilateral trade in the cases of Germany's exports to Italy and Italy's exports to the UK. The EMS had a negative effect on the volume of exports between France and Germany in both directions. The EMS had no significant impact on export volumes in the majority of bilateral trade relationships examined.

JEL-codes: F31 (search for similar items in EconPapers)
Date: 1999, Revised 1999
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Published in the Journal of Economic Integration, Vol. 15, No. 3, 2000

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Journal Article: The Impact of the Exchange Rate Regime on Exports: Evidence from Bilateral Exports in the European Monetary System (2000)
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