Relationship between Exchange Rate and Balance of Payment—Empirical Analysis of Taiwan
Date Issued
2007
Date
2007
Author(s)
Chen, Sheng-Hsin
DOI
zh-TW
Abstract
In this paper we research the relationship between nominal exchange rate and balance of payment in Taiwan. We use unit root test, cointegration test, variance decomposition test, error correction model, to know interaction situation of these variables and to build up empirical model of those.
The research results show that empirical outcomes are close to theoretical outcomes, but empirical results of variables of Taiwan net foreign assets, Taiwan net portfolio investment, are unusual in influence direction of nominal exchange rate.
Subjects
匯率
共整合
誤差修正
變異數分解
exchange rate
BOP
unit root test
cointegration test
variance decomposition
Type
thesis
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