Arbeitspapier
Sectoral R&D intensity and exchange rate volatility: A panel study on economies of the OECD
A recent literature has pointed at potential negative effects of exchange rate volatility on innovation. In this paper, we propose that there may be a direct effect as well as an indirect effect via export activity. We test these hypotheses for sectoral R&D intensities using OECD panel data for manufacturing and services sectors for 14 OECD economies and the years 1987 - 2003. We find that the direct negative effect of volatility is pronounced in manufacturing sector but is dominated by the indirect effect via the export channel. Services do not face any effects of volatility on R&D intensities. While it is not clear which channel dominates our results confirm that there is a negative volatility affect related to openness on a sectoral level.
- Language
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Englisch
- Bibliographic citation
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Series: Jena Economic Research Papers ; No. 2009,056
- Classification
-
Wirtschaft
Business Fluctuations; Cycles
Foreign Exchange
Management of Technological Innovation and R&D
- Subject
-
R&D intensity
Innovation
Real Exchange Rate
Volatility
Exports
OECD-Countries
Wechselkurs
Volatilität
Innovation
Industrielle Forschung
Export
Kaufkraftparität
Schätzung
OECD-Staaten
- Event
-
Geistige Schöpfung
- (who)
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Mahagaonkar, Prashanth
Schweickert, Rainer
Chavali, Aditya S.
- Event
-
Veröffentlichung
- (who)
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Friedrich Schiller University Jena and Max Planck Institute of Economics
- (where)
-
Jena
- (when)
-
2009
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Mahagaonkar, Prashanth
- Schweickert, Rainer
- Chavali, Aditya S.
- Friedrich Schiller University Jena and Max Planck Institute of Economics
Time of origin
- 2009
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