This paper looks at the role of external trade and foreign equity finance in determining the impact of exchange rate uncertainty on firm-level employment growth in a major developing economy: India. Exchange rate uncertainty is found to affect firm-level employment growth adversely on average, but the impact depends upon firm-level characteristics such as exposure to foreign trade through imports and exports and firm-level mark-up. Foreign equity finance reduces the negative impact of exchange rate uncertainty on employment growth but the same cannot be said about access to domestic equity finance.

中文翻译：

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汇率不确定性下的就业增长：贸易和外国股权融资的作用

本文着眼于对外贸易和外国股权融资在确定汇率不确定性对主要发展中经济体印度的企业级就业增长的影响方面的作用。平均而言，汇率不确定性对公司层面的就业增长产生不利影响，但影响取决于公司层面的特征，例如通过进出口和公司层面的加价对外贸的敞口。外国股权融资减少了汇率不确定性对就业增长的负面影响，但对于获得国内股权融资却并非如此。