期刊名称：Discussion Paper Series / Department of Economics, Monash University
出版年度：2007
卷号：1
出版社：Monash University
摘要：This paper examines the effects of exchange rate variability on export demand for
semiconductors, which is the largest sub-sector of electronics industry in Malaysia as
reported by MIDA (Malaysian Industrial Development Authority, 2004). The empirical
results, which are estimated based on the Johansen¡¯s multivariate co-integration tests and
error correction model, suggest that there is a unique long-run relationship among
quantities of export, relative price, real foreign income, and real exchange rate variability.
The major finding of this paper is that the variability of real exchange rate has some
effect on semiconductor exports in both the long-run and the short-run. In the light of
rapid advances in technology in the global markets for electronics products, the findings
are useful to policy makers for the design and target of appropriate exchange rate and
industrial policies to enhance the export competitiveness of semiconductor industry.
