Resumen
This study inv?stig?t?s hyp?th?sis th?t ?xch?ng? r?t? risk m?y h?v? an ?ff?ct ?n ?xp?rts f?r several ?m?rging m?rk?t ?c?n?mi?s namely, Br?zil, Russi?, Indi?, Chin? ?nd S?uth ?fric?, which ?r? ?ls? c?ll?d th? BRICS. W? employ th? multiv?ri?t? G?RCH-in-m??n m?d?l t? ?ss?ss th? imp?ct ?f ?xch?ng? r?t? risk ?n ?xp?rts. Importantly, this modelling approach follows a singl?-st?p pr?c?dur? which succ?ssfully ?v?rc?m?s g?n?r?t?d r?gr?ss?r pr?bl?m. Th? findings reveal th?t th? r??l ?xch?ng? r?t? v?l?tility has a signific?nt n?g?tiv? imp?ct ?n ?xp?rts in Br?zil, Indi?, Chin? ?nd S?uth ?fric? whereas the impact has been found to be positive in Russia. C?mput?d g?n?r?liz?d impuls? r?sp?ns? functi?n suggests that th? ?ff?cts ?f un?xp?ct?d sh?cks of r??l ?xch?ng? r?t? v?l?tility ?n ?xp?rt gr?wth are more protracted. The innovation sh?cks ?f Br?zil, Russi? ?nd Chin? ?c?n?mi?s (?xc?pt Indi?) ?xch?ng? r?t? volatility has ? p?sitiv? imp?ct ?n ?xp?rt uncertainty while f?r?ign inc?m? volatility has ?mbigu?usly ?xp?sing to S?uth ?fric? ?c?n?my.K?yw?rds: Exch?ng? R?t? Risk, ?xp?rt Growth, Multiv?ri?t? G?RCH-in-Mean, GIRFJ?L Cl?ssific?ti?ns: C32, F19, F31DOI: https://doi.org/10.32479/ijefi.6986