Theoretical and Applied Economics
No. 4 / 2015 (605), Winter
Measuring the Influence of the J-Curve Effect on Trade in Romanian Forest Products
Bucharest University of Economic Studies, Romania
Abstract. This paper examines the dynamic effect of the Romanian exchange rate indices on bilateral trade of Romanian forest products namely fibreboard, particle board and pulp for paper. Special attention is given to investigate the J-curve hypothesis: whether the trade balance for Romanian forest products benefits from a decline in the value of Romanian Leu (RON). We adopted the autoregressive distributed lag (ARDL) approach to cointegration to estimate the annual bilateral trade data of Romanian forest products from 1991 to 2013 with various countries in the world. We found no evidence of the J-curve phenomenon for the trade in Romanian forest products. The long-run analysis showed the exchange rate to be insignificant in influencing the trade balance of Romanian forest products. This implies that there are no changes in the trade balance for fibreboard, particle board and pulp for paper trade, regardless of whether the Romanian exchange rate depreciates or appreciates. However, income variables were found to be important factors in determining Romanian trade, only in pulp for paper products.
Contents
Social Innovation in the Local Public Sector: A Cross-Regional Approach for Romania
Testing the Validity of Political Business Cycle for the Fragile Five Countries
Fuel Price Volatility and Asymmetric Transmission of Crude Oil Price Changes to Fuel Prices
Analysis of Gross Domestic Product Evolution under the Influence of the Final Consumption
Gender-based Segregation before and after the Great Recession
Does Expenditure on Education Affect Economic Growth in India? Evidence from Cointegration and Granger Causality Analysis
Measuring the Influence of the J-Curve Effect on Trade in Romanian Forest Products
An Assessment of Customer Shared Value in the Restaurant Industry – a Survey from Sweden
Modelling optimal execution strategies for Algorithmic trading
Macroeconomic Effects of Inflation Targeting: Evidence from the Middle and High-Income Countries
Model of Analysis of Electronical Instruments Services in Romania
Banking Business and Social Media – A Strategic Partnership
The Interest Rate Corridor as a Macroprudential Tool to Mitigate Rapid Growth in Credits: Evidence from Turkey
Structural Breaks and Unit Roots in Indian Macroeconomic Variables
Analysis Model of GDP Dependence on the Structural Variables
Does Financial Development Influence Economic Growth in India?
Multidimensional Analysis of Performances in a Credit Brokerage Entity
Analysis of National Health Strategy 2014-2020
Threshold Effect of Public Debt on Domestic Investment: Evidence from Selected African Countries
Service Sector, Human Capital Accumulation and Endogenous Growth
The Communication Paradigms in Education
The Influence of Lending Activity on Economic Growth in Romania
Blended Learning – A Path towards Modernizing Higher Economic Education?
The Role of Epistemological Paradigms in Research in Social Sciences and Humanities
New Challenges for Agriculture within the Context of Climate Change
The Insertion of Young Economists in the Labor Market through the Specialty Practice. The Bucharest-Ilfov Region
Testing for Multiple Bubbles in the 35 Large and Medium Cities of Real Estate Price in China
Equilibriums and Economic Rationality in “the House of Life”
The Correlation between Employment and Productivity of Older Workers
Current Demographic Trends – A New Challenge for the Labour Market
The Great Transformation. The Formulation of New Models