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Spillover Effects of Exchange Rates : A Study of the Renminbi

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dc.contributor.authorMishra, Prachi
dc.contributor.authorSubramanian, Arvind
dc.contributor.authorMattoo, Aaditya
dc.date.accessioned2012-03-19T17:29:37Z
dc.date.available2012-03-19T17:29:37Z
dc.date.issued2012-03-01
dc.description.abstractThis paper estimates how changes in China's exchange rates would affect exports from competitor countries in third-country markets -- in other words, the "spillover effect." The authors use recent theory to develop an identification strategy, with a key role for the competition between China and its developing country competitors in specific products and export destinations. Using disaggregated trade data, they estimate the spillover effect by exploiting the variation across different exporters, importers, products, and time periods. They find a spillover effect that is statistically and quantitatively significant. Their estimates suggest that a 10-percent appreciation of China's real exchange rate boosts a developing country's exports of a typical four-digit Harmonized System product category to third markets by about 1.5 to 2 percent on average. The magnitude of the spillover effect varies systematically with the characteristics of products, such as the extent to which they are differentiated.en
dc.identifierhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20120309093600
dc.identifier.doi10.1596/1813-9450-5989
dc.identifier.urihttps://hdl.handle.net/10986/3278
dc.languageEnglish
dc.relation.ispartofseriesPolicy Research working paper ; no. WPS 5989
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectABSOLUTE VALUE
dc.subjectALTERNATIVE EXCHANGE RATE
dc.subjectBENCHMARKING
dc.subjectBILATERAL EXCHANGE RATE
dc.subjectBILATERAL TRADE
dc.subjectBUSINESS CYCLE
dc.subjectCHECKS
dc.subjectCOMPETITIVE ADVANTAGE
dc.subjectCOMPETITIVE DEVALUATIONS
dc.subjectCOMPETITIVENESS
dc.subjectCONSUMERS
dc.subjectCORRELATION COEFFICIENT
dc.subjectCORRELATION COEFFICIENTS
dc.subjectCOUNTRY FIXED EFFECTS
dc.subjectCOUNTRY MARKET
dc.subjectCOUNTRY MARKETS
dc.subjectCOUNTRY OF ORIGIN
dc.subjectCOUNTRY TO COUNTRY
dc.subjectCURRENCY
dc.subjectCURRENCY UNIONS
dc.subjectDEFLATORS
dc.subjectDEPENDENT VARIABLE
dc.subjectDEPRECIATION
dc.subjectDEPRECIATIONS
dc.subjectDEPRESSION
dc.subjectDEVALUATIONS
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPING COUNTRY
dc.subjectDEVELOPMENT ECONOMICS
dc.subjectDEVELOPMENT POLICY
dc.subjectDIFFERENT CURRENCIES
dc.subjectDOLLAR EXCHANGE RATE
dc.subjectDOMESTIC INFLATION
dc.subjectDOMESTIC PRICE
dc.subjectDOMESTIC PRICES
dc.subjectECONOMETRIC ESTIMATES
dc.subjectECONOMIC GROWTH
dc.subjectEFFECT OF EXCHANGE RATE CHANGES
dc.subjectEFFECTIVE EXCHANGE RATE
dc.subjectEFFECTIVE EXCHANGE RATES
dc.subjectELASTICITY
dc.subjectELASTICITY OF DEMAND
dc.subjectELASTICITY OF EXPORTS
dc.subjectELASTICITY OF SUBSTITUTION
dc.subjectESTIMATION STRATEGY
dc.subjectEXCESS CAPACITY
dc.subjectEXCHANGE RATE DATA
dc.subjectEXCHANGE RATE FLUCTUATIONS
dc.subjectEXCHANGE RATE MOVEMENTS
dc.subjectEXCHANGE RATE PEGS
dc.subjectEXCHANGE RATE POLICIES
dc.subjectEXCHANGE RATE POLICY
dc.subjectEXCHANGE RATES
dc.subjectEXPENDITURE
dc.subjectEXPORT PERFORMANCE
dc.subjectEXPORTER
dc.subjectEXPORTERS
dc.subjectEXPORTS
dc.subjectFEDERAL RESERVE
dc.subjectFEDERAL RESERVE BANK
dc.subjectFIRM PERFORMANCE
dc.subjectFIXED SHARE
dc.subjectFOREIGN FIRMS
dc.subjectFOREIGN TRADE
dc.subjectGDP
dc.subjectGLOBALIZATION
dc.subjectHUMAN RESOURCES
dc.subjectIMPORT
dc.subjectIMPORT DEMAND
dc.subjectIMPORT PRICES
dc.subjectIMPORTS
dc.subjectINCOME
dc.subjectINDUSTRIAL COUNTRIES
dc.subjectINFLATION
dc.subjectINTANGIBLE
dc.subjectINTERMEDIATE GOODS
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL ECONOMICS
dc.subjectINTERNATIONAL FINANCE
dc.subjectINTERNATIONAL FINANCIAL MARKETS
dc.subjectINTERNATIONAL FINANCIAL STATISTICS
dc.subjectINTERNATIONAL MACROECONOMICS
dc.subjectINTERNATIONAL TRADE
dc.subjectLIFE EXPECTANCY
dc.subjectMACROECONOMIC VARIABLE
dc.subjectMACROECONOMICS
dc.subjectMANUFACTURING INDUSTRIES
dc.subjectMARKET ENTRY
dc.subjectMARKET ENTRY COSTS
dc.subjectMARKET EXCHANGE RATES
dc.subjectMARKET VALUATIONS
dc.subjectMIDDLE INCOME COUNTRIES
dc.subjectMONETARY FUND
dc.subjectMULTILATERAL EXCHANGE RATE
dc.subjectNOMINAL BILATERAL EXCHANGE RATE
dc.subjectNOMINAL EXCHANGE RATE
dc.subjectOTHER CURRENCIES
dc.subjectOUTPUT
dc.subjectPOLITICAL ECONOMY
dc.subjectPOSITIVE COEFFICIENT
dc.subjectPOWER PARITY
dc.subjectPRICE INDEX
dc.subjectPRICE INDICES
dc.subjectPRICE LEVEL
dc.subjectPURCHASING
dc.subjectPURCHASING POWER
dc.subjectPURCHASING POWER PARITY
dc.subjectREAL EFFECTIVE EXCHANGE RATE
dc.subjectREAL EFFECTIVE EXCHANGE RATES
dc.subjectREAL EXCHANGE RATE
dc.subjectREAL EXCHANGE RATES
dc.subjectREAL EXPORTS
dc.subjectREGIONAL DUMMIES
dc.subjectRELATIVE PRICE
dc.subjectREVALUATION
dc.subjectROBUSTNESS CHECKS
dc.subjectSAVINGS
dc.subjectSAVINGS MOTIVE
dc.subjectSAVINGS RATES
dc.subjectSTANDARD DEVIATION
dc.subjectSTOCK MARKET
dc.subjectSTOCK PRICES
dc.subjectSUPPLY CONDITIONS
dc.subjectTHIRD MARKET
dc.subjectTHIRD MARKETS
dc.subjectTOTAL EXPORTS
dc.subjectTOTAL IMPORTS
dc.subjectTRADE AGREEMENTS
dc.subjectTRADE DATA
dc.subjectTRADE POLICIES
dc.subjectTRANSMISSION MECHANISM
dc.subjectUNEMPLOYMENT
dc.subjectVALUATIONS
dc.subjectVALUE ADDED
dc.subjectWEIGHTS
dc.titleSpillover Effects of Exchange Rates : A Study of the Renminbien
dspace.entity.typePublication
okr.crossref.titleSpillover Effects of Exchange Rates: A Study of the Renminbi
okr.date.disclosure2012-03-01
okr.date.doiregistration2025-04-10T11:02:48.890677Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.docurlhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20120309093600
okr.guid160451468213588870
okr.identifier.doi10.1596/1813-9450-5989
okr.identifier.externaldocumentum000158349_20120309093600
okr.identifier.internaldocumentum15909708
okr.identifier.reportWPS5989
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2012/03/09/000158349_20120309093600/Rendered/PDF/WPS5989.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.administrativeEast Asia and Pacific
okr.region.countryChina
okr.region.geographicalEast Asia
okr.region.geographicalAsia
okr.sectorIndustry and trade :: Other domestic and international trade
okr.unitDevelopment Research Group (DECRG)
okr.unitDECRG: Trade & Intl. Integration (DECTI)
okr.volume1 of 1
relation.isAuthorOfPublication1e63409b-8428-4de9-8942-70e823b051f4
relation.isAuthorOfPublication.latestForDiscovery1e63409b-8428-4de9-8942-70e823b051f4
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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