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| Author: | Nucci, F. Pozzolo, A. |
| Title: | Investment and the exchange rate: an analysis with firm- level panel data |
| Journal: | European Economic Review
2001 : FEB, VOL. 45:2, p. 259-284 |
| Index terms: | INVESTMENT EXCHANGE RATES COMPANIES |
| Language: | eng |
| Abstract: | This paper investigates the relationship between exchange rate fluctuations and the investment decisions of a sample of Italian manufacturing firms. The results support the view that a depreciation of the exchange rate has a positive effect on investment through the revenue channel, and a negative effect through the cost channel. The magnitude of these effects varies over time with changes in the firm's external orientation, as measured by the share of foreign sales over total sales and the reliance on imported inputs. |
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