人民币双边事实汇率制度与中国出口增长

Journal of Financial Research

2016, Vol. 434

Issue (8): 1-7 DOI:

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Bilateral RMB De Facto Exchange Rate Regime and China's Export Growth

SHI Bingzhan, ZHANG Yarui

Institution of International Economics / School of Economics, Nankai University

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Abstract Contrasting to exchange rate level or volatility, this paper focus on the effect of exchange rate regime on China's export growth. We found that China and 34% trade partners are in fact in fixed exchange rate regime; the trade volume under fixed exchange rate regime is about 1.30~1.92 times of that under floating exchange rate regime; if China and all its trade partners were in floating exchange rate regime, China's export volume would decrease 6.42~13.29%; furthermore, the promoting effect is larger for the product with higher dependence on external financing. Therefore, fixed exchange rate regime not only increases export volume but also upgrades export structure.

Key words： Exchange Rate Regime Export Growth Exchange Rate Volatility

Received: 18 January 2016 Published: 01 January 1900

JEL分类号:	F14
	F31
	F41

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SHI Bingzhan,ZHANG Yarui. Bilateral RMB De Facto Exchange Rate Regime and China's Export Growth[J]. Journal of Financial Research, 2016, 434(8): 1-7.

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http://www.jryj.org.cn/EN/ OR http://www.jryj.org.cn/EN/Y2016/V434/I8/1

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