Author(s)

Conclusion

Adam & Cobham (2007)

They argue that greater exchange rate fixity and lower transactions costs encourage trade.

Pozo (1992)

The exchange rate risk restrains the volume of trade.

Cote (1994)

The exchange rate volatility can affect trade in two different ways. First, directly, through uncertainty and adjustment costs. Second indirectly, through its effect on the structure of output and investment and on government policy.

Peridy (2003)

The volatility varies between industries.

Tenreyro (2004)

Mentions that exchange rate variability does not affect trade.

Hondroyiannis et al. (2008)

They found no evidence of a negative impact of volatility.

Aristotelous (2001)

He didn’t find any negative effect of volatility.

Byrne et al. (2008)

They mention that for differentiated goods the volatility is negative and significant but for homogeneous goods is insignificant.

Asseery & Peel (1991)

They found a positive and significant impact of volatility.

Doyle (2001)

There is a positive and substantial impact of volatility.

Franke (1991)

The volatility may have positive impact.

Viaene & Vries (1992)

They argued that the impact of volatility differs according to the existence of a forward markets.

Caporale & Doroodian (1994)

They have found a negative impact.

Arize et al. (2003)

They have found a negative relationship.

Arize & Ghosh (1994)

They have found a negative connection.

McKenzie (1999)

The volatility impact is different due to the various categories of exports or markets and sectors.

Maskus (1986)

They claim that volatility effect is diverse due to the variety of categories of exports and sectors.

Klein (1990)

The volatility impact is distinct due to the different categories of exports or markets and sectors.