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The third-economy exchange rate vola...

Xu, Jia.

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The third-economy exchange rate volatility and commodity trade between the U.S., Hong Kong, and Mainland China.

Record Type:	Language materials, printed : Monograph/item
Title/Author:	The third-economy exchange rate volatility and commodity trade between the U.S., Hong Kong, and Mainland China./
Author:	Xu, Jia.
Description:	140 p.
Notes:	Source: Dissertation Abstracts International, Volume: 72-02, Section: A, page: 0687.
Contained By:	Dissertation Abstracts International72-02A.
Subject:	Economics, General. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3437969
ISBN:	9781124391533

The third-economy exchange rate volatility and commodity trade between the U.S., Hong Kong, and Mainland China.
Xu, Jia.

The third-economy exchange rate volatility and commodity trade between the U.S., Hong Kong, and Mainland China. - 140 p.

Source: Dissertation Abstracts International, Volume: 72-02, Section: A, page: 0687.

Thesis (Ph.D.)--The University of Wisconsin - Milwaukee, 2010.

The volatility of exchange rates among countries has introduced uncertainties into international transactions. Although some papers demonstrate a significantly negative impact of real exchange rate volatility on trade flows, some show a positive effect. Most of previous research used aggregate trade data between one country and the rest of the world or bilateral trade data between two countries which could suffer from aggregation bias. Additionally, the indirect effects are ignored in those studies, such as the third-economy effect.

ISBN: 9781124391533Subjects--Topical Terms:

1017424
Economics, General.

The third-economy exchange rate volatility and commodity trade between the U.S., Hong Kong, and Mainland China.
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005 20110912132015.5
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020 $a 9781124391533
035 $a (UMI)AAI3437969
035 $a AAI3437969
040 $a UMI $c UMI
100 1 $a Xu, Jia. $3 1677394
245 1 4 $a The third-economy exchange rate volatility and commodity trade between the U.S., Hong Kong, and Mainland China.
300 $a 140 p.
500 $a Source: Dissertation Abstracts International, Volume: 72-02, Section: A, page: 0687.
500 $a Adviser: Mohsen Bahmani-Oskooee.
502 $a Thesis (Ph.D.)--The University of Wisconsin - Milwaukee, 2010.
520 $a The volatility of exchange rates among countries has introduced uncertainties into international transactions. Although some papers demonstrate a significantly negative impact of real exchange rate volatility on trade flows, some show a positive effect. Most of previous research used aggregate trade data between one country and the rest of the world or bilateral trade data between two countries which could suffer from aggregation bias. Additionally, the indirect effects are ignored in those studies, such as the third-economy effect.
520 $a In this dissertation, I use a bounds testing approach to cointegration and disaggregate trade data between the U.S and Hong Kong and also the U.S. and Mainland China over the period of 1978--2006. In the first study, I examine the impact of real Hong Kong dollar-U.S. dollar volatility on trade flows between the U.S. and Hong Kong by using 110 importing and 143 exporting commodities. The results indicate that the volatility of the real Hong Kong dollar-U.S. dollar exchange rate has a significant mixed impact on trade flows in most commodities in the short run. The short-run effect lasts into the long run in 60% of these commodities. In the second study, the third-economy effect, the real Mainland Chinese yuan-U.S. dollar exchange rate volatility, is included into trade models. By comparing the results with and without the third-economy effect, I find that the volatility of the third-economy is very important to the trade flows. Including the third-economy effect may overstate the impact of the direct exchange rate volatility a little bit on U.S. imports from Hong Kong but understate the impact on U.S. exports to Hong Kong. Finally, I investigate trade volumes of 101 importing and 75 exporting commodities between the U.S. and Mainland China with the third-economy effect, the Canadian dollar-U.S. dollar real exchange rate volatility. The real U.S. dollar-Mainland Chinese yuan exchange rate volatility has a significant impact on a majority of cases in the short run and the impact extends into the long run in more than 50% of these commodities. The empirical results also indicate a significance of Canadian dollar-U.S. dollar real exchange rate volatility on trade flows.
590 $a School code: 0263.
650 4 $a Economics, General. $3 1017424
650 4 $a Economics, Finance. $3 626650
690 $a 0501
690 $a 0508
710 2 $a The University of Wisconsin - Milwaukee. $3 1019345
773 0 $t Dissertation Abstracts International $g 72-02A.
790 1 0 $a Bahmani-Oskooee, Mohsen, $e advisor
790 $a 0263
791 $a Ph.D.
792 $a 2010
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3437969