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| Author: | Alse, J. Bahmani-Oskooe, M. |
| Title: | Do devaluations improve or worsen the terms of trade? |
| Journal: | Journal of Economic Studies
1995 : VOL. 22:6, p. 16-25 |
| Index terms: | DEVALUATION INTERNATIONAL TRADE TERMS OF TRADE |
| Language: | eng |
| Abstract: | The present article attempts to shed new light on the relation between the terms of trade and effective exchange rate using cointegration analysis and data from twenty-five countries. Findings could be summarized by saying that there is actually no long-run relation between exchange rate and the terms of trade. One of the macroeconomic variables that reflect the international competitiveness of a country is that country's terms of trade, which are defined as the ration of export prices over import prices. |
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