Exchange rate exposure for exporting and domestic firms in central and Eastern Europe

Asif, Raheel; Frömmel, Michael

doi:10.1016/j.ememar.2021.100863

Cited by 4 publications

(2 citation statements)

References 71 publications

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“…Cieślik et al (2015) showed determinants of a successful expansion for new Member Statesespecially labour productivity and employment of university graduates. Firms in Hungary, Poland, and the Czech Republic have been exposed to exchange rate fluctuations (Asif & Frömmel, 2022). Investing firms also face a challenging labour market situation due to rigid systems fixed with traditional employee security (Horwitz, 2011), which has been exacerbated in recent years due to low unemployment and rising labour costs.…”

Section: Specifics Of V4 Countriesmentioning

confidence: 99%

Dynamics of GVC Position of v4 Automotive Suppliers: Implications for Public Policy

(ORCID:¹

2023

CEBR

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In the post-covid world, governments explore options to enhance their policies so that corporations can act as successful motors of recovery and sustainable growth. Countries select various objectives related to global value chains (GVC), such as participation, value capture, inclusiveness, and resilience, yet might be unaware of the position of corporations they are supposed to motivate. In this paper, we aim to (re-)investigate the position of Visegrad Four (V4) suppliers within the regional automotive value chains and to compare results with suppliers in other EU member states using the trade in value-added (TiVA) statistics. We set two research questions: How does the position of V4 in automotive GVCs differ from the positions of other EU member states and significant other automotive producing countries? What is the link between the domestic value-added in gross exports of final automotive products and the selected policy variables? A multiple linear regression model is run with TiVA in the automotive industry as the dependent variable and independent variables embodying proxies of GVC-oriented policy consequences. The analysis determined significant differences in value-added levels between V4 countries and other EU countries, and other large automotive-producing economies. The labour cost, productivity, investment in R&D, and innovation support are among the factors where V4 countries fall behind. Implications for Central European audience: The results of our research might be helpful for respective authorities and governments in V4 and other Central and Eastern European countries. They can be of use when setting the goals of and implementing policies targeted at promoting innovation, upgrading within existing GVCs, and the cooperation between universities and research centres on the one hand and the automotive industry on the other.

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Section: Specifics Of V4 Countriesmentioning

confidence: 99%

Dynamics of GVC Position of v4 Automotive Suppliers: Implications for Public Policy

(ORCID:¹

2023

CEBR

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“…In research from [17], the authors examined the relationship between the returns of exporting and domestic firms and the currency fluctuation against the USD and EUR for Czech, Hungary, Poland, and Russia. Their findings showed that each country is highly affected by exchange rate exposure, albeit in a different direction.…”

Section: Literature Reviewmentioning

confidence: 99%

An Analysis of the Exchange Rate Volatility in Poland using the GARCH, GJR-GARCH and EGARCH Models

Enumah

Adewinbi

2022

EJMS

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This paper employs the symmetric GARCH and the asymmetric GJR-GARCH(1,1) and E-GARCH(1,1) models to explain the dynamics of the PLN/EUR and PLN/USD exchange rates in Poland for the periods of January 2015 to July 2022. The result of our study shows that the USD rate is more susceptible to market fluctuations and events than the EUR rate. Additionally, both rates' volatility persists after a market crisis for a while, with the EUR rate taking longer until volatility subsides. Using the Akaike information criterion and Bayesian information criterion, we find the E-GARCH model to be the best model out of all three models considered.

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Exchange Rate Risk Management using Currency Derivatives: The Case of Exposures to Japanese Yen

Bae

Kwon

2022

Asia-Pac Financ Markets

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Exchange rate exposure for exporting and domestic firms in central and Eastern Europe

Cited by 4 publications

References 71 publications

Dynamics of GVC Position of v4 Automotive Suppliers: Implications for Public Policy

Dynamics of GVC Position of v4 Automotive Suppliers: Implications for Public Policy

An Analysis of the Exchange Rate Volatility in Poland using the GARCH, GJR-GARCH and EGARCH Models

Exchange Rate Risk Management using Currency Derivatives: The Case of Exposures to Japanese Yen

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