The impact of trading costs and exchange rate volatility on bilateral trade : a case study of developed countries and Asia developing countries

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http://eprints.org/relation/isVersionOf http://etheses.bham.ac.uk/id/document/2350 http://eprints.org/relation/isVolatileVersionOf http://etheses.bham.ac.uk/id/document/2350 http://eprints.org/relation/isIndexCodesVersionOf http://etheses.bham.ac.uk/id/document/2350 archive 4031 disk0/00/00/09/50 2010-09-23 08:59:57 2019-01-23 09:53:12 2010-09-23 08:59:57 thesis show 0 Xu Junqian Dutta Jayasri Horsewood N. (Nick) University of Birmingham The impact of trading costs and exchange rate volatility on bilateral trade : a case study of developed countries and Asia developing countries unpub HF HB 10col_socs Floating exchange rate has recently become more volatile after the collapse of the Bretton Woods system in 1973. Impediments to trade introduce price differentials and deviations from the law of one price and even diminish trade transactions. Uncertainty can be an example of an impediment to trade. The central objective of the thesis has been to analyse trade costs and exchange rate volatility and their role in bilateral trade, with particular reference to developed countries and Asia developing countries. This thesis contains three main parts as follows: Chapter Two investigates the purchasing power parity hypothesis by testing the real exchange rates using the Robinson (1994)’s fractional integration approach as well as conventional unit root tests. Chapter Three is a panel data study on the impact of relative trade barriers on bilateral exports using gravity model. In the first step the impact of the technology factor along with geographical factors, institutional factors on bilateral transportation costs is investigated. In the second step, GMM and an instrumental variable approach are used to tackle the econometric problem of endogeneity. Chapter Four and Five investigates the impact of both real and nominal exchange-rate volatility on the UK aggregate and disaggregate bilateral trade flows. 2009-12 2009-04 graduation 2856701 eng author unchecked This unpublished thesis/dissertation is copyright of the author and/or third parties. The intellectual property rights of the author or third parties in respect of this work are as defined by The Copyright Designs and Patents Act 1988 or as modified by any successor legislation. Any use made of information contained in this thesis/dissertation must be in accordance with that legislation and must be properly acknowledged. Further distribution or reproduction in any format is prohibited without the permission of the copyright holder. restricted 248 University of Birmingham Birmingham Business School, Department of Economics d_ph na 2009-12 graduation