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Article: International trade and hedging in economies in transition

TitleInternational trade and hedging in economies in transition
Authors
KeywordsCross-hedging
Economies in transition
F10
F30
P20
Real exchange rate risk
Risk sharing markets
Issue Date2001
PublisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/ecosys
Citation
Economic Systems, 2001, v. 25 n. 2, p. 149-159 How to Cite?
AbstractThis paper develops a general equilibrium framework to analyze risk management policies in economies in transition. By cross-hedging against real exchange rate risk exposures, these economies can increase their gains from international trade. We suggest that countries with emerging forward markets can gradually introduce the risk sharing markets, as limiting resources may prevent them from introducing complete hedging markets in the first place. Thus the growing demand for risk management instruments can be gradually met and it would be welfare enhancing. Economies in transition benefit when hedging devices are offered by financial markets, irrespective of whether the hedging instruments are de facto perfect or not. © 2001 Elsevier Science B.V.
Persistent Identifierhttp://hdl.handle.net/10722/85623
ISSN
2015 Impact Factor: 0.701
2015 SCImago Journal Rankings: 0.420
References

 

DC FieldValueLanguage
dc.contributor.authorBroll, Uen_HK
dc.contributor.authorMallick, Ren_HK
dc.contributor.authorWong, KPen_HK
dc.date.accessioned2010-09-06T09:07:17Z-
dc.date.available2010-09-06T09:07:17Z-
dc.date.issued2001en_HK
dc.identifier.citationEconomic Systems, 2001, v. 25 n. 2, p. 149-159en_HK
dc.identifier.issn0939-3625en_HK
dc.identifier.urihttp://hdl.handle.net/10722/85623-
dc.description.abstractThis paper develops a general equilibrium framework to analyze risk management policies in economies in transition. By cross-hedging against real exchange rate risk exposures, these economies can increase their gains from international trade. We suggest that countries with emerging forward markets can gradually introduce the risk sharing markets, as limiting resources may prevent them from introducing complete hedging markets in the first place. Thus the growing demand for risk management instruments can be gradually met and it would be welfare enhancing. Economies in transition benefit when hedging devices are offered by financial markets, irrespective of whether the hedging instruments are de facto perfect or not. © 2001 Elsevier Science B.V.en_HK
dc.languageengen_HK
dc.publisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/ecosysen_HK
dc.relation.ispartofEconomic Systemsen_HK
dc.rightsEconomic Systems. Copyright © Elsevier BV.en_HK
dc.subjectCross-hedgingen_HK
dc.subjectEconomies in transitionen_HK
dc.subjectF10en_HK
dc.subjectF30en_HK
dc.subjectP20en_HK
dc.subjectReal exchange rate risken_HK
dc.subjectRisk sharing marketsen_HK
dc.titleInternational trade and hedging in economies in transitionen_HK
dc.typeArticleen_HK
dc.identifier.emailWong, KP: kpwongc@hkucc.hku.hken_HK
dc.identifier.authorityWong, KP=rp01112en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1016/S0939-3625(01)00017-6en_HK
dc.identifier.scopuseid_2-s2.0-0042287959en_HK
dc.identifier.hkuros59042en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-0042287959&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume25en_HK
dc.identifier.issue2en_HK
dc.identifier.spage149en_HK
dc.identifier.epage159en_HK
dc.identifier.scopusauthoridBroll, U=7004024398en_HK
dc.identifier.scopusauthoridMallick, R=36855692900en_HK
dc.identifier.scopusauthoridWong, KP=7404759417en_HK

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