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汇率波动和贸易流之间的关系，已被广泛地查阅文献。汇率波动是指货币价格的程度往往会随着时间变化而波动。理论文献对汇率波动的影响在贸，易流动方面提供了不同意见。一些作者认为,汇率波动的增加意味着风险规避公司所面临的不确定性对他们的收入所造成的影响。因此通常通过重定向活动来响应当地市场。另一方面，其他研究人员指出,风险规避的假设被解除了,可以说,市场参与者更容易利用汇率的波动,从而增加他们的利润,因而导致国际贸易的增加。

不同的实证研究，实施了这个话题，在汇率波动和贸易之间，一直未能建立明确的联系。因此,从理论和实证的角度来看,汇率和波动性之间的关系是模糊的。

毛里求斯通常被视为国家的榜样,它经历了成功的贸易自由化和出口拉动型增长。据说,贸易政策塑造了国家的工业发展道路,有利于二十多年的经济稳步增长，并推动了国家的“新兴的工业化经济体”。然而自1960年代以来,毛里求斯在贸易政策方面，经历了很多变化和改革。毛里求斯采取的早期贸易政策，涉及进口替代战略,同时为促进出口提供激励措施。然而,从1980年代起,毛里求斯朝着更加外向型战略发展，并开始了贸易自由化。在经济保持稳定的同时，进口限制和关税被降低。

第一章：介绍——Chapter 1: Introduction

The relationship between exchange rate volatility and trade flows has been extensively reviewed in literature. Exchange rate volatility refers to the extent to which prices of currencies tend to fluctuate over time. Theoretical literature has provided diverging views on the effect on exchange rate volatility on trade flows. Some authors argue that an increase in exchange rate volatility implies that risk averse firms are faced with uncertainty with respect to their earnings and hence would generally respond by redirecting their activity to local markets. On the other hand, other researchers pointed out that when the assumption of risk aversion is lifted, it can be argued that market participants are more likely to take advantage of the fluctuations in the exchange rate so as to increase their profits which will cause an increase in international trade.

The various empirical studies carried out on this topic have not been able to establish a clear link between exchange rate volatility and trade. Therefore from both theoretical and empirical point of view, the relationship between exchange rate and volatility is ambiguous.

Mauritius is often cited as an example of a country which has undergone successful trade liberalization and export-led growth. It is also said that trade policies has shaped the country's path of industrial development, contributing to over two decades of steady growth and propelling the country in the ranks of the “newly industrialized economies”. However since the 1960s, the Mauritius has experienced much changes and reforms in its trade policy. Early trade policies adopted by Mauritius involved an import substitution strategy while at the same time providing incentives for export promotion. However as from the 1980s, Mauritius moved towards a more outward-oriented strategy and embarked on trade liberalisation. Imports restrictions and tariffs were reduced while economic stability was maintained. By the mid-1990s, Mauritius had one of the most liberal economic regimes in Africa. Incentives for export promotion like tax incentives, preferential rates of borrowing and so on were maintained. One of the key factors of exports competitiveness is the level of exchange rate in Mauritius which had to be kept low.

In addition the exchange rate regime itself in Mauritius has been deregulated over the years in a set of financial liberalisation measures. The exchange rate regime in Mauritius has also evolved from a fixed exchange rate system to a manage float one. In the 1970s, Mauritius adopted a pegged exchange rate system where the rupee was first 本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。