EMU Effects on International Trade and Investment

Harry Flam and Per Jansson

No wp-2000-180, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: The partial effect of nominal exchange rate volatility on exports from each EMU member to the rest of the EMU is estimated on annual data for 1967-97, using modern time-series methods. The long-run relations between exchange rate volatility and exports are mostly negative and in several cases insignificantly different from zero. Thus, these estimates do not provide much support for the hypothesis that the elimination of nominal exchange rate volatility will significantly increase trade within the EMU.

Keywords: International economic relations; International trade; Foreign investments (search for similar items in EconPapers)
Date: 2000
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