汇率和贸易平衡的关系东盟国家的经验【外文翻译】

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1、本科毕业论文外文翻译外文题目：EXCHANGERATEANDTRADEBALANCERELATIONSHIP:THEEXPERIENCEOFASEANCOUNTRIES出处：InternationalTrade2003作者：Khim-SenLiew，Kian-PingLim，HuzaimiHussain原文:AbstractThisstudyaddressesthequestionofwhetherexchangeratechangeshaveanysignificantanddirectimpactontradebalance.Bye

2、xaminingthetradebalancesbetweenASEAN-5countriesandJapanforthesampleperiodfrom1986to1999,thisstudyfoundthattheroleofexchangeratechangesininitiatingchangesinthetradebalanceshasbeenexaggerated.Assuch,analternativeexplanationtotheobservedbehaviourofASEAN-5tradebalancesinthes

3、electedsampleperiodhasbeenpostulated.Inparticular,weproposethattradebalanceisaffectedbyrealmoney,ratherthannominalexchangerate.Amathematicalframeworkthatprovidestheoreticalbackgroundtoourpropositionispresented.Ourempiricaldataanalysissuggeststhattherealmoneyeffectproposi

4、tioncouldconsistentlyexplaintheobservedtradebalancesinMalaysia,Singapore,ThailandandthePhilippinesduringtheperiodofstudy,withrespecttoJapan.Thus,inordertocopewithtradedeficits,thegovernmentsoftheseASEAN-5countriesmightresorttopolicymeasuresfocusingonthevariableofrealmone

5、y.Keywords:Exchangerate;Tradebalance;Realmoney;Purchasingpowerparity;ASEAN-5Economies.I.INTRODUCTIONExchangerateisoneoftheimportantpricesinanopeneconomysinceitaffectssomanybusiness,investmentandpolicydecisions.Thus,itisnotsurprisingtolearnthatthestudyofexchangeratehasbee

6、noneofthemostimportantareasofeconomicresearchoverthepastfewdecades.Thisbodyofresearchhasexperiencedtremendousgrowth,especiallyinthepost-BrettonWoodserainwhichforeignexchangeratehasbeenhighlyvolatileaftertheinceptionofthefloatingexchangerateregimein1973.11Oneoftheareasofr

7、esearchthathasdrawntheattentionofresearchersistheexchangeratetradebalancerelationship.Theelasticitymodelofthebalanceoftrade(Krueger,1983)hasshowntheexistenceofatheoreticalrelationshipbetweenexchangerateandthetradebalance.Empirically,variousstudieshavebeenconductedtoasses

8、stheinfluenceofexchangerateontradebalance,withtheobjectiveofprovidingvaluableinputstopolicymakersonthee