Relationship between the Poland´s trade flows at the commodity level and the zloty exchange rate
Santrauka
The aim of this study is to examine the short run and the long run effects of exchange rate
changes of Polish zloty on trade flows in the context of disaggregated industry data of Poland´s foreign
trade flows. For this purpose, the Johannsen cointegration test and the vector error correction model are
used. Examined industries are determined on the basis of SITC classification. We used quarterly data over
the sample period 1997–2013. Our findings suggest that the respond to exchange rate depreciations are
different accross examined segments of industries. There is revealed, that only some of the product
groups are in the long run relationship with exchange rate. Positive effect of depreciations was detected
for the majority of these segments.