THE EFFECTS OF GLOBAL FINANCIAL CRISIS ON INTERNATIONAL TRADE: EXCHANGE RATE VOLATILITY VS FINANCE. CASE OF CAMEROON
- 주제(키워드) INTERNATIONAL TRADE , Exchange rate , Exchange rate volatility , Exports and GDP
- 발행기관 아주대학교
- 지도교수 CHOI, HEE GAB
- 발행년도 2017
- 학위수여년월 2017. 2
- 학위명 석사
- 학과 국제대학원 국제통상학과
- 실제URI http://www.dcollection.net/handler/ajou/000000024045
- 본문언어 영어
- 저작권 아주대학교 논문은 저작권에 의해 보호받습니다.
초록/요약
ABSTRACT Valuations of currencies and their variability are often noted to have inexplicable aftermaths on international trade, and the overall economic performance. This paper sets to find out empirically, the effects of financial crisis on international trade. We limited our study by focusing on the relationship between exchange rate volatility versus finance for the Cameroonian economy using a time series of 40 years; 1975 2015. We calculated the standard deviation for exchange rate to get the values for exchange rate volatility, meanwhile values for exports, exchange rate and WGR were obtained from various sources as outlined in chapter three. Using the gravity model of international trade, we found that, exchange rate, its volatility, and world growth rate determines the degree or the exports level an economy may achieve for a given period of time. Using data for Cameroon, I found a significant and positive relationship for the three mentioned factors (exchange rate, exchange volatility, and world growth rate) with exports. That is high exchange rates encourage Cameroonians and Cameroon businesses to engage more in exports. We strongly suggest and recommend a unique and single currency for the Cameroonian economy
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TABLE OF CONTENT
Abstract i
Acknowledgments ii
Dedication iii
Table of content .iv
List of Tables vi
List of Abbreviation and Acronyms…………………………………………….vii
CHAPTER ONE
1.0 INTRODUCTION
1.1 Background 1
1.2 Problem Statement 3
1.3 Research objectives 4
1.4 Research Questions 4
1.5 Research Hypothesis 4
1.6 Significance of Study 5
1.7 Scope of Study…………………………………………………………………5
CHAPTER TWO
2.0 REVIEW OF LITERATURE
2.1 Conceptual Framework; Financial Crisis and International Trade 9
2.1.1 Financial Crisis 9
2.1.2 International Trade 11
CHAPTER THREE
3.0 RESEARCH DESIGN
3.1 Description of Variables 12
3.1.1 Export 12
3.1.2 Exchange Rate 13
3.1.3 Exchange Rate Volatility 14
3.1.4 World Growth Rate 15
3.2 Data/Cases Type 15
3.3 Method of Data Analysis 15
CHAPTER FOUR
4.0 Presentation of Results and Interpretation 17
4.1 Presentation of Results 17
4.2 Regression Equation 19
4.3 Interpretation of Results 20
4.4 Implication of Results 20
4.4.1 Implication of the Relationship between Exchange Rate and Exports 20
4.4.2 Implication of the Relationship between Exchange Rate Volatility and Exports …….21
4.4.3 Implication of the Relationship between World Growth Rate and Exports ….22
CHAPTER 5
5.0 Summary, Conclusion, and Recommendations 23
5.1 Summary and Conclusions 23
5.2 Recommendations 24
5.2.1 Easing Trade Financing 24
5.2.2 Economic Policy and Capacity Building 25
5.2.3 Reduction in Transaction Costs… 25
5.2.4 Unique Currency 25
REFERENCES 27
List of Tables
Table 1 Descriptive Results 17
Table 2 Correlation Table 18
Table 3 Regression Table 19
Table 4 Test of Hypothesis 20
Appendix 1. Data for Export, Exchange Rate, Exchange Rate Volatility and World Growth Rate 28
