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This paper examines the impacts of exchange rate risk on Taiwanese traders' decisions to hedge corn imports on US futuresmarkets. The results yield the conclusion that, in the absence of a market that provides proper tools to hedge against exchangerate risk, the Taiwanese economy is incurring an observable social loss. Thus, further liberalisation is essential. Taiwan'sexperiences can serve as an example for developing countries, as the world economy is becoming increasingly integrated.© 2001 Elsevier Science B.V. All rights reserved.

Keywords: Exchange rate risk ; Forward contract ; Cross-hedging ; Taiwan ; Corn industry

Subject(s): International Relations/Trade

Production Economics

Issue Date: 2001-09

Publication Type: Journal Article

PURL Identifier: http://purl.umn.edu/177189 Published in: Agricultural Economics: The Journal of the International Association of Agricultural Economists, Volume 25, Issue 2-3 Page range: 303-309

Total Pages: 8

JEL Codes: G 10

Record appears in: International Association of Agricultural Economists (IAAE) > Agricultural Economics: The Journal of the International Association of Agricultural Economists





Autor: Liu, Kang Ernest ; Geaun, Jerome ; Lei, Li-Fen

Fuente: http://ageconsearch.umn.edu/record/177189?ln=en







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