In the aftermath of the financial crisis where global aggregate demand is struggling, countries occasionally get accused of weakening their currency to gain competitiveness. The method of weakening the currency to gain competitiveness is explained by the Marshall-Lerner condition, which states that a devaluation in the long-term will strengthen the balance of trade. But is this policy always rational? And if not, which economies should avoid it? This study investigates whether the structure of the export industry can explain the varying response in the balance of trade from a devaluation. The Johansen Procedure with a Vector Error Correction Model is used to estimate long-run price elasticities of demand for exports and imports. The countries chosen are among the 30 countries with the lowest rank of economic complexity based on its output, listed by the Observatory of Economic Complexity. The exports of these countries are consisting of a single or a few goods, which enables for investigating how individual industries respond to a devaluation. The hypothesis is that there are differences between labour- and capital-intensive economies and that the former should respond more positive to a devaluation than the latter. The results indicate that there is a pattern, to the opposite of the hypothesis, where the capital-intensive economies respond more positive to a devaluation than the labour-intensive economies. This could be misleading due to underlying factors that should be controlled for to be able to produce reliable estimates. The Marshall-Lerner condition is fulfilled for two countries, Gabon and Niger, out of nine in the final sample.

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This thesis is about Taiwan's balance of trade and economical and political factors that affect it. In the first chapter, I define balance of trade in general. Next part consists of characteristics of Taiwanese history and economy and after those I finally focus on Taiwan's balance of trade and its structure. In the final part I talk about free trade agreements and international organizations that Taiwan wants to be part of and whose main goals are to lift certain trade barriers. In the light of the above mentioned information I try to predict the future structure of Taiwan's balance of trade.

Thesis (Ph. D.)--University of Wisconsin, Milwaukee, 2005. / Vita. Includes bibliographical references (leaves 64-68).

Thesis (Ph. D.)--Auburn University, 2005. / Vita. Includes bibliographical references (leaves 164-173).

by Lam Ka Ming. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1993. / Includes bibliographical references (leaves 55-56). / ABSTRACT --- p.i / TABLE OF CONTENTS --- p.ii / Chapter / Chapter I. --- INTRODUCTION --- p.1 / Could Depreciation Correct Trade Imbalances ？ --- p.1 / Objective of the Study --- p.3 / Chapter II --- LITERATURE REVIEW --- p.4 / Could Depreciation Improve Trade Balances ？ --- p.4 / J-Curve Effect --- p.5 / Currency Contract Period --- p.6 / Pass-Through Period --- p.8 / Quantity Response Period --- p.9 / Miles' Critique on other Empirical Studies --- p.9 / Chapter III. --- METHODOLOGY --- p.12 / Data --- p.12 / The Studies --- p.13 / Chapter IV. --- FINDINGS --- p.15 / Hong Kong --- p.15 / Singapore --- p.20 / South Korea --- p.23 / Taiwan --- p.26 / Chapter V. --- CONCLUSION --- p.29 / TABLES AND CHARTS --- p.32 / BIBLIOGRAPHY --- p.55

This thesis examines the relationship between the bilateral real exchange rate and the trade balances of 20 industries in which majority of the trade between Turkey and her leading partner Germany is carried out, both for the short and long run, in search of the existence of any J-curve effect. Using quarterly data over the period 1989:1-2011:3, the relationship is analyzed empirically through the bounds testing approach to cointegration and error correction modeling. The findings show that, although the pattern created by a depreciation does not follow the compl ete J curve in any of the industries, still the exchange rate as well as foreign and domestic real incomes are effective determinants of bilateral trade balance between Turkey and Germany in majority of the cases both in the short and in the long run. Moreover, this thesis provides strong support for the assertion that at the disaggregate level industries exhibit unique and distinct trade balance responses to exchange rate fluctuations, by showing that these responses vary significantly across different sectors both in the short and long run.

Thesis (LL.M.)--Victoria University of Wellington, 2009. / Includes bibliographical references.

Thesis (M.S.)--Naval Postgraduate School, 2003. / Title from title screen (viewed July 9, 2004). "December 2003." "ADA420510"--URL. Includes bibliographical references (p. 111-120). Also issued in paper format.

In this thesis I examine, within a behavioural finance framework, the impact on stock prices of order and trade imbalance in three separate but related studies. The first study, chapter two, begins with a question that plagues behavioural finance theories???do the investors most likely to be influenced by the behavioural biases described in the literature, i.e., individual investors, affect stock prices? My data enable me to consider the impact of net individual investor trading for the entire market over several years. I find that net individual investor purchasing Grangercauses stock price changes. The correlation is negative, however, contradicting common sense by demonstrating that individuals investor buying pressure makes prices go down and selling pressure forces them up. More investigation is required. Chapter three references order imbalance results from experimental finance. I use field data to test a robust laboratory model and my modified versions. My findings suggest that, with appropriate modifications, laboratory results can be applied to real financial markets. Chapter four combines the data from the chapters two and three to revisit the question of individual investor impact on stock prices. Other studies have argued that individual investor influence is strongest in smaller capitalization stocks. Moreover, various theories propose that individual investors are the driving force behind the irrational stock prices of a bubble. I focus on the stocks from chapter three, bubble stocks, and ask whether, in the context of the trading of the entire market, individual investor trades are influential. Once again I find Grangercausality, but in the wrong direction. Moreover, the activity and volume of the individual investor category of the holdings data is completely overshadowed by that of the two large investor categories, domestic and foreign institutions. I conclude that individual investor trades are not influential in determining stock prices. This conclusion has important implications for some behavioural finance models of asset pricing. I suggest that emphasis might be better placed on educating individual investors about the errors to which they are prone, rather than on trying to explain market anomalies with those errors.