The Economic Exchange Rate Exposure: Evidence for a Small Open Economy
This study examines the economic exchange rate exposure of 22 industries in Pakistan. The key findings of the study are: firstly, the findings show that industry-level share values are statistically significantly influenced by changes in the Pakistani Rupee (PKR)/US-dollar exchange rate, in general. Secondly, a statistically significant lagged response of stock values to exchange rate change is reported. Finally, the highly capital-intensive industries are, however, found to be more exposed to changes in exchange rate in comparison to the less capital-intensive industries. Further, the robustness of the exchange rate exposure does not fall over time.
Year of publication: |
2010
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Authors: | Rashid, Abdul |
Published in: |
The IUP Journal of Monetary Economics. - IUP Publications. - Vol. VIII.2010, 4, p. 46-58
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Publisher: |
IUP Publications |
Saved in:
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