Effects of exchange rate volatility on Brazilian exports

Detalhes bibliográficos
Autor(a) principal: Pianca, Osmar José Bertholini
Data de Publicação: 2017
Outros Autores: Campani, Carlos Heitor d'Avila Pereira, Cardoso, Rafael
Tipo de documento: Artigo
Idioma: por
Título da fonte: Contextus (Fortaleza. Online)
Texto Completo: http://periodicos.ufc.br/contextus/article/view/32299
Resumo: An economy with high exchange rate volatility brings uncertainties to its international trade flow and, therefore, affects its country’s exports. Such uncertainties justify researches trying to identify the effects of exchange rate volatility on exports. This paper aims to investigate the effects of the US dollar exchange rate volatility on Brazilian exports with a focus on certain relevant sectors of Brazil’s economy. Four different metrics of exchange rate volatility were used as independent variables whereas the exported volumes of some products and sectors were taken as dependent variables. The estimation process was carried out by means of the Generalized Method of Moments because it presents better properties for finite samples and it treats the endogenicity problem. The results show that some products and sectors are indeed affected by volatility of the US dollar exchange rate in a negative way, while other products and sectors seem to have not been affected.
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spelling Effects of exchange rate volatility on Brazilian exportsEfectos de la volatilidad del cambio en las exportaciones brasilenãsEfeito da volatilidade da taxa de câmbio nas exportações brasileirasExchange rate volatility. Real exchange rates. Nominal exchange rates. Brazilian Exports. Brazil.Volatilidad cambiaria. Tipo de cambio real. Tipo de cambio nominal. Exportaciones brasileñas. Brasil.Volatilidade cambial. Taxa de câmbio real. Taxa de câmbio nominal. Exportações brasileiras. Brasil.An economy with high exchange rate volatility brings uncertainties to its international trade flow and, therefore, affects its country’s exports. Such uncertainties justify researches trying to identify the effects of exchange rate volatility on exports. This paper aims to investigate the effects of the US dollar exchange rate volatility on Brazilian exports with a focus on certain relevant sectors of Brazil’s economy. Four different metrics of exchange rate volatility were used as independent variables whereas the exported volumes of some products and sectors were taken as dependent variables. The estimation process was carried out by means of the Generalized Method of Moments because it presents better properties for finite samples and it treats the endogenicity problem. The results show that some products and sectors are indeed affected by volatility of the US dollar exchange rate in a negative way, while other products and sectors seem to have not been affected.Una economía con alta volatilidad em su cambio genera incertidumbres a su flujo de comercio internacional, lo que acaba por impactar sus exportaciones. Debido a tales incertidumbres, hay investigaciones que buscan identificar los efectos de la volatilidad de cambio en las exportaciones de los países. El presente trabajo busca investigar los efectos de la volatilidad del cambio del dólar estadounidense en las exportaciones de Brasil en ciertos sectores relevantes de la economía brasileña. Así, se tomó como variables independientes cuatro métricas diferentes de la volatilidad cambiaria y, como variables dependientes, los volúmenes exportados de algunos productos y sectores. Las estimaciones fueron realizadas con el Método Generalizado de los Momentos, porque este presenta mejores propiedades para muestras finitas y trata problemas de endogenía. Los resultados demuestran que algunos productos y sectores se ven afectados por la volatilidad del cambio del dólar estadounidense de forma negativa, mientras que otros productos y sectores parecen no sentir ningún efecto.Uma economia com alta volatilidade no câmbio gera incertezas em seu fluxo de comércio internacional, o que acaba por impactar suas exportações. Tais incertezas ensejam pesquisas que procuram identificar os efeitos da volatilidade da taxa de câmbio sobre as exportações dos países. O presente trabalho visa investigar o impacto da volatilidade do câmbio de dólar estadunidense nas exportações do Brasil com foco em certos setores relevantes da economia brasileira. Assim, tomam-se como variáveis independentes quatro métricas distintas de volatilidade cambial e, como variáveis dependentes, os volumes exportados de alguns produtos e setores. As estimativas foram realizadas pelo Método Generalizado dos Momentos, por este apresentar melhores propriedades para amostras finitas e tratar problemas de endogenia. Os resultados demonstram que alguns produtos e setores são afetados pela volatilidade da taxa de câmbio do dólar estadunidense de forma negativa, enquanto outros produtos ou setores parecem não sofrer efeito algum. FEAAC/UFC2017-11-14info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfapplication/vnd.openxmlformats-officedocument.wordprocessingml.documentapplication/vnd.openxmlformats-officedocument.wordprocessingml.documentapplication/vnd.openxmlformats-officedocument.wordprocessingml.documentapplication/ziphttp://periodicos.ufc.br/contextus/article/view/3229910.19094/contextus.v15i2.1023Contextus - Contemporary Journal of Economics and Management; Vol 15 No 2: mai/ago 2017; 188-210Contextus – Revista Contemporánea de Economía y Gestión; Vol. 15 Núm. 2: mai/ago 2017; 188-210Contextus – Revista Contemporânea de Economia e Gestão; v. 15 n. 2: mai/ago 2017; 188-2102178-92581678-2089reponame:Contextus (Fortaleza. Online)instname:Universidade Federal do Ceará (UFC)instacron:UFCporhttp://periodicos.ufc.br/contextus/article/view/32299/pdf_1http://periodicos.ufc.br/contextus/article/view/32299/98267http://periodicos.ufc.br/contextus/article/view/32299/98268http://periodicos.ufc.br/contextus/article/view/32299/98269http://periodicos.ufc.br/contextus/article/view/32299/165806http://periodicos.ufc.br/contextus/article/view/32299/165807http://periodicos.ufc.br/contextus/article/view/32299/165808http://periodicos.ufc.br/contextus/article/view/32299/165809Copyright (c) 2017 Revista: apenas para a 1a. publicaçãohttps://creativecommons.org/licenses/by-nc/4.0info:eu-repo/semantics/openAccessPianca, Osmar José BertholiniCampani, Carlos Heitor d'Avila PereiraCardoso, Rafael2021-11-22T12:07:25Zoai:periodicos.ufc:article/32299Revistahttp://periodicos.ufc.br/contextusPUBhttp://periodicos.ufc.br/contextus/oairevistacontextus@ufc.br2178-92581678-2089opendoar:2021-11-22T12:07:25Contextus (Fortaleza. Online) - Universidade Federal do Ceará (UFC)false
dc.title.none.fl_str_mv Effects of exchange rate volatility on Brazilian exports
Efectos de la volatilidad del cambio en las exportaciones brasilenãs
Efeito da volatilidade da taxa de câmbio nas exportações brasileiras
title Effects of exchange rate volatility on Brazilian exports
spellingShingle Effects of exchange rate volatility on Brazilian exports
Pianca, Osmar José Bertholini
Exchange rate volatility. Real exchange rates. Nominal exchange rates. Brazilian Exports. Brazil.
Volatilidad cambiaria. Tipo de cambio real. Tipo de cambio nominal. Exportaciones brasileñas. Brasil.
Volatilidade cambial. Taxa de câmbio real. Taxa de câmbio nominal. Exportações brasileiras. Brasil.
title_short Effects of exchange rate volatility on Brazilian exports
title_full Effects of exchange rate volatility on Brazilian exports
title_fullStr Effects of exchange rate volatility on Brazilian exports
title_full_unstemmed Effects of exchange rate volatility on Brazilian exports
title_sort Effects of exchange rate volatility on Brazilian exports
author Pianca, Osmar José Bertholini
author_facet Pianca, Osmar José Bertholini
Campani, Carlos Heitor d'Avila Pereira
Cardoso, Rafael
author_role author
author2 Campani, Carlos Heitor d'Avila Pereira
Cardoso, Rafael
author2_role author
author
dc.contributor.author.fl_str_mv Pianca, Osmar José Bertholini
Campani, Carlos Heitor d'Avila Pereira
Cardoso, Rafael
dc.subject.por.fl_str_mv Exchange rate volatility. Real exchange rates. Nominal exchange rates. Brazilian Exports. Brazil.
Volatilidad cambiaria. Tipo de cambio real. Tipo de cambio nominal. Exportaciones brasileñas. Brasil.
Volatilidade cambial. Taxa de câmbio real. Taxa de câmbio nominal. Exportações brasileiras. Brasil.
topic Exchange rate volatility. Real exchange rates. Nominal exchange rates. Brazilian Exports. Brazil.
Volatilidad cambiaria. Tipo de cambio real. Tipo de cambio nominal. Exportaciones brasileñas. Brasil.
Volatilidade cambial. Taxa de câmbio real. Taxa de câmbio nominal. Exportações brasileiras. Brasil.
description An economy with high exchange rate volatility brings uncertainties to its international trade flow and, therefore, affects its country’s exports. Such uncertainties justify researches trying to identify the effects of exchange rate volatility on exports. This paper aims to investigate the effects of the US dollar exchange rate volatility on Brazilian exports with a focus on certain relevant sectors of Brazil’s economy. Four different metrics of exchange rate volatility were used as independent variables whereas the exported volumes of some products and sectors were taken as dependent variables. The estimation process was carried out by means of the Generalized Method of Moments because it presents better properties for finite samples and it treats the endogenicity problem. The results show that some products and sectors are indeed affected by volatility of the US dollar exchange rate in a negative way, while other products and sectors seem to have not been affected.
publishDate 2017
dc.date.none.fl_str_mv 2017-11-14
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10.19094/contextus.v15i2.1023
url http://periodicos.ufc.br/contextus/article/view/32299
identifier_str_mv 10.19094/contextus.v15i2.1023
dc.language.iso.fl_str_mv por
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dc.relation.none.fl_str_mv http://periodicos.ufc.br/contextus/article/view/32299/pdf_1
http://periodicos.ufc.br/contextus/article/view/32299/98267
http://periodicos.ufc.br/contextus/article/view/32299/98268
http://periodicos.ufc.br/contextus/article/view/32299/98269
http://periodicos.ufc.br/contextus/article/view/32299/165806
http://periodicos.ufc.br/contextus/article/view/32299/165807
http://periodicos.ufc.br/contextus/article/view/32299/165808
http://periodicos.ufc.br/contextus/article/view/32299/165809
dc.rights.driver.fl_str_mv Copyright (c) 2017 Revista: apenas para a 1a. publicação
https://creativecommons.org/licenses/by-nc/4.0
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 2017 Revista: apenas para a 1a. publicação
https://creativecommons.org/licenses/by-nc/4.0
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dc.publisher.none.fl_str_mv FEAAC/UFC
publisher.none.fl_str_mv FEAAC/UFC
dc.source.none.fl_str_mv Contextus - Contemporary Journal of Economics and Management; Vol 15 No 2: mai/ago 2017; 188-210
Contextus – Revista Contemporánea de Economía y Gestión; Vol. 15 Núm. 2: mai/ago 2017; 188-210
Contextus – Revista Contemporânea de Economia e Gestão; v. 15 n. 2: mai/ago 2017; 188-210
2178-9258
1678-2089
reponame:Contextus (Fortaleza. Online)
instname:Universidade Federal do Ceará (UFC)
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instname_str Universidade Federal do Ceará (UFC)
instacron_str UFC
institution UFC
reponame_str Contextus (Fortaleza. Online)
collection Contextus (Fortaleza. Online)
repository.name.fl_str_mv Contextus (Fortaleza. Online) - Universidade Federal do Ceará (UFC)
repository.mail.fl_str_mv revistacontextus@ufc.br
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