Home

    About

    Open Access Repository

    SearchBrowse by ThemeBrowse by AuthorBrowse by TypeMost Popular Titles

    Other Resources

    Curators

    Events

    Contributing Think Tanks

    Networks

    Using Content

    FAQs

    Terms of Use

    13,800+ curated items from top Think Tanks.
    JavaScript is disabled for your browser. Some features of this site may not work without it.

    Home

    About

    Open Access Repository

    SearchBrowse by ThemeBrowse by AuthorBrowse by TypeMost Popular Titles

    Other Resources

    Curators

    Events

    Contributing Think Tanks

    Networks

    Using Content

    FAQs

    Terms of Use

    Export Dynamics and the Invoicing Currency

    Hayakawa, Kazunobu; Matsuura, Toshiyuki; Laksanapanyakul, Nuttawut; Yoshimi, Taiyo | March 2019
    Abstract
    In this paper, using finely disaggregated firm-level export data for Thailand, we examine how firms' export experience is related to the dynamic choice of the invoicing currency. We present evidence that the majority of exporters seldom change the invoicing currency for the same product/destination during the sample period. This evidence implies that changing the invoicing currency is costly for exporters. We also find that even after controlling for export size, the probability of choosing the export country's currency, or the producers' currency for the first export is significantly higher than for the export of the second and subsequent products/destinations. Assuming importers are risk averse, this finding implies that the accumulation of firm export experience provides better know-how for exchange rate risk management and enhances the use of currencies other than the PC in order to gain better profit. We also propose a theoretical model that provides the rationale for these empirical findings.
    Citation
    Hayakawa, Kazunobu; Matsuura, Toshiyuki; Laksanapanyakul, Nuttawut; Yoshimi, Taiyo. 2019. Export Dynamics and the Invoicing Currency. © Economic Research Institute for ASEAN and East Asia. http://hdl.handle.net/11540/9799.
    Keywords
    Macroeconomic
    Macroeconomic Analysis
    Macroeconomic Framework
    Macroeconomic Models
    Macroeconomic Performance
    Macroeconomic Planning
    Macroeconomic Policies
    Macroeconomic Reform
    Macroeconomic Stabilization
    Results-Based Monitoring And Evaluation
    Project Evaluation & Review Technique
    Project Evaluation
    Program Evaluation
    Performance Evaluation
    Operations Evaluation
    Evaluation Methods
    Evaluation
    Social condition
    Economic dependence
    Economic assistance
    International monetary relations
    International monetary relations
    International trade
    National accounting
    Market
    Project impact
    Development projects
    Program management
    Performance appraisal
    Project appraisal
    Technology assessment
    Economic indicators
    Growth models
    Gross domestic product
    Macroeconomics
    Economic forecast
    Exports
    Exports
    Exchange
    Comparative economics
    Index number
    Monetary policy
    Value analysis
    Adjustment cost
    Transaction cost
    Conditionality
    International relations
    Cumulative effects assessment
    Grievance procedures
    Participatory monitoring and evaluation
    Exchange rate
    Economic development projects
    Economic policy
    Economic forecasting
    Exchange rates
    Show allCollapse
    Citable URI
    http://hdl.handle.net/11540/9799
    Metadata
    Show full item record
    Thumbnail
    ERIA-DP-2018-14.pdf (1.075Mb)
    Author
    Hayakawa, Kazunobu
    Matsuura, Toshiyuki
    Laksanapanyakul, Nuttawut
    Yoshimi, Taiyo
    Theme
    Economics
    Evaluation
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise