实际汇率与中国双边贸易

本文将中国与中国贸易伙伴国之间的实际汇率引入一个诱导的出口方程中,并加入中国出口的竞争者与中国的贸易伙伴国之间的实际汇率。结果表明,亚洲的一些主要国家和地区是中国出口的竞争者,1997年发生的亚洲金融危机确实使中国1998年和1999年的出口减少。除了海外市场需求和国内供给能力外,中国与贸易伙伴国之间的实际汇率,以及中国出口的竞争者与中国的贸易伙伴国之间的实际汇率对中国的双边贸易也有显著影响。

REAL EXCHANGE RATES AND CHINESE BILATERAL TRADE

To highlight the impacts of the real exchange rate on Chinese bilateral trade, not only the bilateral real exchange rates between China and its trading partners are taken into account but also the bilateral real exchange rates between China's export competitors and China's trading partners are incorporated into a reduced export equation. The statistical results show that the main Asian developing economies are China's export competitors, and the Asian Financial Crisis of 1997 did decrease China's export in ...