1. INFLUENCES OF EXCHANGE RATES ON ROMANIAN EXPORTS
國貿碩二
方羿傑

2. Abstract
Exports represent a major component of gross domestic product. In a more and more globalized world, the importance of export activity increased.
Export depends on a large variety of factors that can have a positive or negative effect on it. Some consider that exchange rates are a factor that can influence the dynamics of exports.

3. Introduction
The aim of this paper is to present the way in which the rate of exchange influenced the evolution of Romanian exports, during
In the study on the influence of the rate of exchange on Romanian exports, the author considered two main periods of time, and

4. Introduction
The division of time was based on the consideration that, on 1 January 1999, the euro replaced the ECU (i.e. European Currency Unit), at the value €1 = 1 ECU.

5. Introduction
The exchange rate is the price of the currency of a country expressed in the currency of another country
Economists consider that the dynamics of exchange rates can have a significant impact on the exports of a country.
A weaker domestic currency of a country can stimulate exports from that country.
When domestic currency is stronger, exporters lose their commercial competitive advantage.

6. Data and empirical analysis

7. Data and empirical analysis

8. Data and empirical analysis

9. Data and empirical analysis

10. Conclusions
According to the analysis of the statistical data, during , the depreciation of the Romanian Leu (and the appreciation of the ECU/Euro) stimulated increasing Romanian exports.
In , there may have been a correlation between Romanian exports and exchange rates. In spite of all anticipations, the statistical data did not lead to a completely reliable regression equation.

11. Conclusions
The unreliability of the regression equation, for the period , might be a consequence of the economic turmoil of the world financial crisis (i.e. the crisis that started in ).