Browsing by Subject "tuonti"

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  • Bank of Finland (2015)
    Bank of Finland. Bulletin 5/2015
    Finland is a small open economy, where fluctuations in exports and imports have shaped the big picture of developments in the economy. A historical review of these developments suggests that the current situation provides no such conditions for rapid export growth supporting the economy as those seen in the earlier growth phases of economic history. Despite facing difficulties, the forest industry is still one of the pillars of Finnish exports alongside the machinery and metal industry.
  • Lindgren, Verner (1927)
    Bank of Finland. Monthly Bulletin 7 ; 7 ; July
  • Solitander, Axel (1932)
    Bank of Finland. Monthly Bulletin 12 ; 12 ; December
  • Cheung, Yin-Wong; Chinn, Menzie D.; Qian, XingWang (2012)
    BOFIT Discussion Papers 14/2012
    Published in Journal of International Money and Finance, Volume 31, Issue 8, 2012, Pages 2127-2146
    We find that Chinese trade flows respond to economic activity and relative prices -- as represented by a trade weighted exchange rate -- but the relationships are not always precisely or robustly estimated. Chinese exports are generally well-behaved, rising with foreign GDP and decreasing as the Chinese renminbi (RMB) appreciates. However, the estimated income elasticity is sensitive to the treatment of time trends. Estimates of aggregate imports are more problematic. In many cases, Chinese aggregate imports actually rise in response to a RMB depreciation and decline with Chinese GDP. This is true even after accounting for the fact a substantial share of imports are subsequently incorporated into Chinese exports. We find that some of these counter-intuitive results are mitigated when we disaggregate the trade flows by customs type, commodity type, and the type of firm undertaking the transactions. However, for imports, we only obtain more reasonable estimates of elasticities when we allow for different import intensities for different components of aggregate demand (specifically, consumption versus investment), or when we include a relative productivity variable. Keywords: China, imports, exports, real exchange rate JEL: F14, F41
  • Rautava, Jouko; Nuutilainen, Riikka; Norring, Anni; Korhonen, Iikka; Kallio, Jyrki (2015)
    BOFIT Policy Brief 11/2015
    Joulukuussa järjestetyn BOFIT Kiina-tietoiskun viisi esitystä käsittelivät Kiinan taloutta ja yhteiskuntaa monesta eri näkökulmasta. Tähän julkaisuun on koottu esitysten keskeinen sisältö artikkeleina. Ensimmäinen artikkeli käsittelee Kiinan talouskehitystä aivan viime aikoina. Toisessa artikkelissa käydään läpi Kiinan taloustilastoinnin ongelmia ja joitakin vaihtoehtoisia talousindikaattoreita. Kolmannen osan aiheena on mm. Kiinan ja Suomen välinen kauppa sekä sijoitukset. Neljännessä artikkelissa käydään läpi Kiinan rahoitusmarkkinoiden ja pääomaliikkeiden vapauttamista. Viides esitys käsittelee Kiinan kommunistisen puolueen roolia sisä- ja ulkopolitiikassa. Hakusanat: Kiina, talouskehitys, bruttokansantuote, vienti, tuonti, pankkijärjestelmä, sisäpolitiikka, ulkopolitiikka. Kaikki esitykset ovat nähtävissä osoitteessa: http://cloud.magneetto.com/suomenpankki/2015_1201_kiina/angular
  • Garcia-Herrero, Alicia; Koivu, Tuuli (2007)
    BOFIT Discussion Papers 6/2007
    Published in Economie Internationale, Volume 116, Issue 4, 2008, Pages 53-92 as China's exchange rate policy and asian trade
    This paper shows empirically that China's trade balance is sensitive to fluctuations in the real effective exchange rate of the renminbi, although the size of the surplus is such that exchange rate policy alone will be unable to address the imbalance. One of the main reasons why the reduction in the trade surplus is limited is that Chinese imports are reduced with a real appreciation of the renminbi.By estimating bilateral import equations, we find that it is imports from other Southeast Asian countries which fall.This result reflects the vertical integration of Southeast Asia with China through the 'Asian production network'.We find, in turn, that imports from Germany - which serve China's domestic demand - behave as one would expect, ie they increase with renminbi real appreciation.All in all, our results raise concerns on the impact of renminbi appreciation on Southeast Asia even if regional currencies do not follow the renminbi's upward trajectory. Keywords: China, trade, exports, real exchange rate JEL classification: F1, F14
  • (1973)
    Bank of Finland. Monthly Bulletin 47 ; 10 ; October
  • Bussiére, Matthieu; Peltonen, Tuomas (2008)
    BOFIT Discussion Papers 25/2008
    Published with third author Delle Chiaie, S. in IMF Economic Review, Volume 62, Issue 1, April 2014, Pages 146-178
    This paper estimates export and import price equations for 41 countries -including 28 emerging market economies. Further, it relates the estimated elasticities to structural fac-tors and tests for statistical breaks in the relation between trade prices and exchange rates. Results indicate that (i) the elasticity of trade prices in emerging markets is sizeable, but not significantly higher than in advanced economies; (ii) such elasticity is primarily influ-enced by macroeconomic factors such as the exchange rate regime and the inflationary en-vironment, although microeconomic factors such as product differentiation also play a role; (iii) export and import price elasticities tend to be strongly correlated across countries; (iv) pass-through to import prices has declined in some advanced economies, noticeably the United States; this is consistent with a rise in pricing-to-market in several EMEs and espe-cially with a change in the geographical composition of U.S. imports. Keywords: emerging market economies, exchange rate pass-through, pricing-to-market, local and producer currency pricing, exchange rate regime. JEL classification: F10, F30, F41.
  • Kuismanen, Mika (1995)
    Suomen Pankin keskustelualoitteita 17/1995
    The purpose of this study is to examine the relationship between import prices and exchange rates in Finland.The concept of pass-through is associated with how prices of internationally traded goods are affected by changes in exchange rates. Pass-through is said to be complete when the exporter of the good does not adjust prices in his home currency.This means that exchange rate fluctuations are totally reflected in local import prices abroad.On the contrary, if import prices in local currencies remain stable, it is the prices received by exporters that must adjust to exchange rate movements.This paper presents a simple static theoretical model for pass-through.After that, some estimation results for Finnish import prices are shown.Estimation results are mixed, but it is evident that depreciation of markka increases import prices.
  • (1972)
    Bank of Finland. Monthly Bulletin 46 ; 4 ; April
  • (1924)
    Bank of Finland. Monthly Bulletin 4 ; 11 ; November
  • Pitkäniemi, F. M. (1934)
    Bank of Finland. Monthly Bulletin 14 ; 5 ; May
  • (1925)
    Bank of Finland. Monthly Bulletin 5 ; 2 ; February
  • Lindgren, Verner (1926)
    Bank of Finland. Monthly Bulletin 6 ; 3 ; March
  • Lindgren, Verner (1927)
    Bank of Finland. Monthly Bulletin 7 ; 2 ; February
  • Lindgren, Verner (1928)
    Bank of Finland. Monthly Bulletin 8 ; 2 ; February
  • (1932)
    Bank of Finland. Monthly Bulletin 12 ; 2 ; February
  • Hilpinen, Jorma (1996)
    Bank of Finland. Bulletin 70 ; 2 ; February
  • Simola, Heli; Solanko, Laura (2014)
    BOFIT Policy Brief 5/2014
    Ukraine is afraid of Russia cutting off its gas supplies if it cannot pay the higher price demanded by Gazprom. However, the situation is not an easy one for Gazprom, either, Ukraine being one of its largest customers and an important transit route to European customers. Most EU countries would be unlikely to face major difficulties from possible short-term disruptions in the availability of gas imports. Keywords: Russia, Ukraine, energy
  • Honkapohja, Seppo; Turunen-Red, Arja H.; Woodland, Alan D. (2011)
    Bank of Finland Research Discussion Papers 9/2011
    Published in Canadian Journal of Economics, 49, 2016: 1441-1469
    We study a many-country endogenous growth model in which decisions about innovation and new investment are influenced by growth expectations. Adaptive learning dynamics determine the country-specific short-run transition paths. The countries differ in basic structural parameters and may impose tariffs on imports of capital goods. Numerical experiments illustrate the adjustment dynamics that follow the use of tariffs. We show that countries that limit trade in capital goods can experience dynamic gains both in growth and in utility and that such gains persist longer the larger the structural advantages of the region that applies tariffs. Substantial differences in levels of innovation, consumption, output and utility can appear, and asymmetries in economic outcomes that were present before trade restrictions are made more severe.