| Autor: |
Saxena, Swami Prasad, Gupta, Vasudha |
| Předmět: |
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| Zdroj: |
Artha Vijnana; Jun2021, Vol. 63 Issue 2, p168-182, 15p |
| Abstrakt: |
This paper examines both the long-run and short-run impact of real exchange rates and their volatility on India's exports to US by using Autoregressive Distributed Lag (ARDL) bound test on quarterly data spanning from 1991Q1-2018Q4. The results of sensitivity analysis conducted by using ARDL bound testing approach confirm that India's aggregate real exports are relatively more sensitive to the real exchange rates in the long-run but less responsive in the short-run. The empirical results failed to reject the null hypothesis of no short-run causality. The estimated coefficient of error correction term (ECT) is negatively and statistically significant at 5 per cent level of significance which indicates that the speed of adjustment towards long-run equilibrium is 24 per cent within a quarter in responses to the disequilibrium caused by previous period's short-run shocks of explanatory variables on real exports. [ABSTRACT FROM AUTHOR] |
| Databáze: |
Complementary Index |
| Externí odkaz: |
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