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The impact of exchange rate on fisheries production: international evidence from selected countries

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Warianty tytułu
Języki publikacji
EN
Abstrakty
EN
One of the most important factors affecting international trade is exchange rate fluctuations. To date, studies that have analyzed the effect of exchange rates have shown that the effect can vary from sector to sector and from country to country. The fact that this relationship has not been extensively studied in the fisheries industry is the motivation for this study. In this regard, the aim of this study is to determine whether changes in the real exchange rates of countries affect their fisheries production levels. Accordingly, we used the causality test developed by Emirmahmutoglu and Kose (2011), which takes into account both cross-sectional dependencies and heterogeneity. The data set used in this study consisted of 27 annual observations from 38 countries from 1990–2016. The results revealed that changes in the real exchange rate affected fisheries production. This situation shows that changes in exchange rates may affect the international demand for fisheries and serve as a source of motivation for producers.
Rocznik
Strony
87--96
Opis fizyczny
Bibliogr. 30 poz., rys., tab.
Twórcy
autor
  • Dokuz Eylül University, Maritime Faculty, Department of Maritime Business Administration İzmir, Turkey
  • İskenderun Technical University, Barbaros Hayrettin Faculty of Naval Architecture and Maritime Hatay, Turkey
  • Dokuz Eylül University, Maritime Faculty, Department of Maritime Business Administration İzmir, Turkey
  • Karadeniz Technical University, Surmene Faculty of Marine Sciences, Trabzon, Turkey
  • Dokuz Eylül University, Maritime Faculty, Department of Maritime Business Administration İzmir, Turkey
Bibliografia
  • 1. AÇik, A., Tepe, R. & Kayiran, B. (2020) The Impact of Exchange Rate Movements on Fisheries Trade of Turkey. In: Akay Unvan, Y. & Serbestoğlu, İ. (Eds.) Academic Studies in Economics and Administrative Sciences. IVPE: Ivpe Cetinje, Montenegro.
  • 2. Asteriou, D., Masatci, K. & Pilbeam, K. (2016) Exchange Rate Volatility and International Trade: International Evidence from The MINT Countries. Economic Modelling 58, pp. 133–140.
  • 3. Bahmani‐Oskooee, M. & Hegerty, S.W. (2007) Exchange Rate Volatility and Trade Flows: A Review Article. Journal of Economic Studies 34, 3, pp. 211–255.
  • 4. Baum, C.F., Caglayan, M. & Ozkan, N. (2004) Nonlinear Effects of Exchange Rate Volatility on The Volume of Bilateral Exports. Journal of Applied Econometrics 19, 1, pp. 1–23.
  • 5. Berman, N. & Berthou, A. (2009) Financial Market Imperfections and The Impact of Exchange Rate Movements on Exports. Review of International Economics 17, 1, pp. 103– 120.
  • 6. Breusch, T.S. & Pagan, A.R. (1980) The Lagrange Multiplier Test and Its Applications to Model Specification in Econometrics. The Review of Economic Studies 47, 1, pp. 239–253.
  • 7. Bruegel (2020) Real effective exchange rates for 178 countries: a new database. [Online] Available from: https:// www.bruegel.org/publications/datasets/real-effective-exchange-rates-for-178-countries-a-new-database/ [Accessed: March 18, 2020].
  • 8. Chang, T., Gupta, R., Inglesi-Lotz, R., Simo-Kengne, B., Smithers, D. & Trembling, A. (2015) Renewable Energy and Growth: Evidence from Heterogeneous Panel of G7 Countries Using Granger Causality. Renewable and Sustainable Energy Reviews 52, pp. 1405–1412.
  • 9. Chen, L. (2011) The Effect of China’s RMB Exchange Rate Movement on Its Agricultural Export. China Agricultural Economic Review 3, 1, pp. 26–41.
  • 10. Dogan, E. & Aslan, A. (2017) Exploring The Relationship Among CO2 Emissions, Real GDP, Energy Consumption and Tourism in The EU and Candidate Countries: Evidence from Panel Models Robust to Heterogeneity and Cross-Sectional Dependence. Renewable and Sustainable Energy Reviews 77, pp. 239–245.
  • 11. Emirmahmutoglu, F. & Kose, N. (2011) Testing for Granger Causality in Heterogeneous Mixed Panels. Economic Modelling 28, 3, pp. 870–876.
  • 12. Fisher, R.A. (1932) Statistical Methods for Research Workers. 4th Edition. Edinburgh: Oliver and Boyd.
  • 13. FOA (2020) Globefish highlights: A quarterly update on world seafood markets. [Online] Available from: http:// www.fao.org/3/ca7968en/CA7968EN.pdf [Accessed: March 25, 2020].
  • 14. Hadri, K. (2000) Testing for Stationarity in Heterogeneous Panel Data. The Econometrics Journal 3, 2, pp. 148– 161.
  • 15. Khosa, J., Botha, I. & Pretorius, M. (2015) The Impact of Exchange Rate Volatility on Emerging Market Exports. Acta Commercii 15, 1, pp. 1–11.
  • 16. Madura, J. & Fox, R. (2007) International Financial Management. Thomson Learning: London.
  • 17. Pesaran, M.H. (2004) General Diagnostic Tests for Cross Section Dependence in Panels. Cambridge: University of Cambridge (Working Papers in Economics No. 04350435).
  • 18. Pesaran, M.H., Ullah, A. & Yamagata, T. (2008) A Bias-Adjusted LM Test of Error Cross Section Independence. Econometrics Journal 11, pp. 105–127.
  • 19. Pesaran, M.H. & Yamagata, T. (2008) Testing Slope Homogeneity in Large Panels. Journal of Econometrics 142, pp. 50–93.
  • 20. Saatcioglu, C. & Karaca, O. (2004) Türkiye’de İhracat ile Büyüme Arasındaki Nedensellik İlişkisi: 1980 Dönüşümünün Etkisi. İstanbul Üniversitesi İşletme Fakültesi Dergisi 49, pp. 30–40.
  • 21. Senadza, B. & Diaba, D.D. (2017) Effect of Exchange Rate Volatility On Trade in Sub-Saharan Africa. Journal of African Trade 4, 1–2, pp. 20–36.
  • 22. Serenis, D. & Tsounis, N. (2014) Does Exchange Rate Variation Effect African Trade Flows? Procedia Economics and Finance 14, pp. 565–574.
  • 23. Sharma, C. & Pal, D. (2018) Exchange Rate Volatility and India’s Cross-Border Trade: A Pooled Mean Group and Nonlinear Cointegration Approach. Economic Modelling xx, pp. 1–17.
  • 24. Šimáková, J. (2014) The Impact of Exchange Rate Development on Czech Trade Flows. Procedia Economics and Finance 15, pp. 129–136.
  • 25. Toda, H.Y. & Yamamoto, T. (1995) Statistical Inference in Vector Autoregressions with Possibly Integrated Processes. Journal of Econometrics 66, pp. 225–250.
  • 26. Vieira, F.V. & Macdonald, R. (2016) Exchange Rate Volatility and Exports: A Panel Data Analysis. Journal of Economic Studies 43, 2, pp. 203–221.
  • 27. Wong, K.N. & Tang, T.C. (2008) The Effects of Exchange Rate Variability on Malaysia’s Disaggregated Electrical Exports. Journal of Economic Studies 35, 2, pp. 154–169. 28. World Bank (2020). Total fisheries production (metric tons). [Online] Available from: https://data.worldbank.org/indicator/ER.FSH.PROD.MT [Accessed: March 19, 2020].
  • 29. Xie, Z. & Chen, S.W. (2014) Untangling The Causal Relationship Between Government Budget and Current Account Deficits in OECD Countries: Evidence from Bootstrap Panel Granger Causality. International Review of Economics & Finance 31, pp. 95–104.
  • 30. Yurtoglu, Y. (2017) Reel Döviz Kuru ile İhracat Arasındaki Nedensellik İlişkisi: Türkiye Örneği (1997–2015). Gazi İktisat Ve İşletme Dergisi 3, 1, pp. 71–88.
Uwagi
Opracowanie rekordu ze środków MNiSW, umowa Nr 461252 w ramach programu "Społeczna odpowiedzialność nauki" - moduł: Popularyzacja nauki i promocja sportu (2021).
Typ dokumentu
Bibliografia
Identyfikator YADDA
bwmeta1.element.baztech-5deec4f6-eff8-4215-a15b-292821338805
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