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학술연구/단체지원/교육 등 연구자 활동을 지속하도록 DBpia가 지원하고 있어요.
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초록· 키워드
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This paper’s data used a monthly dataset of China’s RMB exchange rate covering the period from January 1998 to December 2014 the Structural Vector Autoregression (SVAR) method was used considering the short-run structural shocks in the model among variables.
Then, it was also used in order to analyze the impact which the normal RMB exchange rate had on China’s current account. Empirical evidence shows that industrial production shocks account for most of the short-run volatility in the current account. We are able to explain this finding about the current account since industrial production shocks also cause a significant short-run appreciation in the normal exchange rate. An implication is that in order to reduce its trade surplus effectively after 1998, China should have maintained expansion of its production through an industrial restructuring policy and a revaluation of the Chinese Renminbi exchange rate.
목차
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참고문헌 (20)
참고문헌 신청
Brada, J. C. / 1993 / China’s Exchange Rate and the Balance of Trade / Economics of Planning 26 (3) : 229 ~ 242
Cerra, V. / 1999 / China’s Trade Flows: Changing Price Sensitivities and the Reform Process
Cerra, V. / 2003 / How Responsive is Chinese Export Supply to Market Signals? / China Economic Review 14 (3) : 350 ~ 370
Cheung, Y. W. / 2007 / The Overvaluation of Renminbi Undervaluation / Journal of International Money and Finance 26 (5) : 762 ~ 785
Dai, Zu Xiang / 1997 / Elasticity Analysis of Trade Balance in China : 1981-1995 / Economic Research Journal 7 : 55 ~ 62
Cerra, V. / 1999 / China’s Trade Flows: Changing Price Sensitivities and the Reform Process
Cerra, V. / 2003 / How Responsive is Chinese Export Supply to Market Signals? / China Economic Review 14 (3) : 350 ~ 370
Cheung, Y. W. / 2007 / The Overvaluation of Renminbi Undervaluation / Journal of International Money and Finance 26 (5) : 762 ~ 785
Dai, Zu Xiang / 1997 / Elasticity Analysis of Trade Balance in China : 1981-1995 / Economic Research Journal 7 : 55 ~ 62
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