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:AbstractThisstudyaddressesthequestionofwhetherexchangeratechangeshaveanysignificantanddirectimpactontradebala

2、nce.ByexaminingthetradebalancesbetweenASEAN-5countriesandJapanforthesampleperiodfrom1986to1999,thisstudyfoundthattheroleofexchangeratechangesininitiatingchangesinthetradebalanceshasbeenexaggerated.Assuch,analternativeexplanationtotheobservedbehaviourofASEAN-5trade

3、balancesintheselectedsampleperiodhasbeenpostulated.Inparticular,weproposethattradebalanceisaffectedbyrealmoney,ratherthannominalexchangerate.Amathematicalframeworkthatprovidestheoreticalbackgroundtoourpropositionispresented.Ourempiricaldataanalysissuggeststhatther

4、ealmoneyeffectpropositioncouldconsistentlyexplaintheobservedtradebalancesinMalaysia,Singapore,ThailandandthePhilippinesduringtheperiodofstudy,withrespecttoJapan.Thus,inordertocopewithtradedeficits,thegovernmentsoftheseASEAN-5countriesmightresorttopolicymeasuresfoc

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

6、arnthatthestudyofexchangeratehasbeenoneofthemostimportantareasofeconomicresearchoverthepastfewdecades.Thisbodyofresearchhasexperiencedtremendousgrowth,especiallyinthepost-BrettonWoodserainwhichforeignexchangeratehasbeenhighlyvolatileaftertheinceptionofthefloatinge

7、xchangerateregimein1973.11Oneoftheareasofresearchthathasdrawntheattentionofresearchersistheexchangeratetradebalancerelationship.Theelasticitymodelofthebalanceoftrade(Krueger,1983)hasshowntheexistenceofatheoreticalrelationshipbetweenexchangerateandthetradebalance.E

8、mpirically,variousstudieshavebeenconductedtoassesstheinfluenceofexchangerateontradebalance,withtheobjectiveofprovidingvaluableinputstopolicymakersonthee