AN ESTIMATION OF CHINESE RENMINBI EXCHANGE RATE IMPACT ON THE REAL EXPORTS OF INDONESIA TO THE US: IS THERE A J-CURVE?

Autor:	Diyah Putriani
Jazyk:	angličtina
Rok vydání:	2016
Předmět:	RMB Marshall-Lerner Condition J-Curve Johansen Cointegration VECM Economics as a science HB71-74
Zdroj:	Journal of Indonesian Applied Economics, Vol 6, Iss 2, Pp 191-207 (2016)
Druh dokumentu:	article
ISSN:	1907-7947 2541-5395
DOI:	10.21776/ub.jiae.2016.006.02.4
Popis:	This paper seeks whether a J-Curve exists on the impact of changes in the Chinese Renminbi (RMB) exchange rates on bilateral exports of Indonesia to the United States (US), particularly in the long run. The Johansen cointegration procedures and Vector Error Correction Model (VECM) regression are applied. The cointegration test shows that there are long-term relationships amongst real GDP of US, Indonesian Rupiah (IDR), real exchange rates and volatility, and Chinese RMB real exchange rates. The result shows that the RMB exchange rate has a negative significant impact (substitution relationship) on Indonesian export to the US. The result also suggests a dissatisfaction of the Marshall-Lerner condition indicating the J-curve phenomenon does not exist.
Databáze:	Directory of Open Access Journals
Externí odkaz:	https://doaj.org/article/0358f099235e4a0bae58c4b5505bac68 Zobrazit plný text záznamu View record in DOAJ