University of Belgrade – Faculty of Economics
Dr Predrag Bjelić, Full Professor
will present his latest research
The Impact of the Exchange Rate on the Foreign Trade Imbalance During the Economic Crisis in the New EU Member States and the Western Balkan Countries
published in Economic Research-Ekonomska Istraživanja.
Time: Wednesday, September 23rd, at 12.00
Location: The seminar will be organized online.
Link for the meeting is as follows:
https://us02web.zoom.us/j/83336540064
Reference of the paper: Rajković, M., Bjelić, P., Jaćimović, D. & Verbič, M. (2020). The impact of the exchange rate on the foreign trade imbalance during the economic crisis in the new EU member states and the Western Balkan countries. Economic Research-Ekonomska Istraživanja, 33 (1), 182-203.
DOI: 10.1080/1331677X.2019.1708771
Abstract: This paper examines the relationship between the real exchange rate and the foreign trade imbalance in both the Western Balkan (WB) and Central and Eastern European (CEE) countries. During the most recent global economic crisis, examining the impact of the exchange rate on the balance of trade took on a particular importance. Countries used a variety of monetary policy regimes and, depending on their choice, they had different economic instruments available to deal with the crisis. The aim of the research was whether exchange rate devaluation and/or depreciation are capable of effectively and fully eliminating the negative effects of the global economic crisis, as well as the consequent poor export performance and contracted economic activity. Our findings show that during an economic crisis those countries that use their own currency cannot substantially adjust their trade deficit by depreciating their currency. Moreover, it is suggested that during the global economic crisis, the balance of payments deficit is not impacted significantly by the exchange rate, any more. In such cases, other factors play a more significant role, like as government spending, followed by foreign demand and direct investments.
JOURNAL DETAILS
Journal Citation Report (SCIe/SSCI)
Impact Factor: IF2: 2.229, IF5: 2.167
Category and Position: М21 in the field Economics
Scimago Journal Rank
Quartile: Q2
Category: Economics and Econometrics
ABS Academic Journal Guide
Rank: unranked
Category: –