| Industry-specific Real Effective Exchange Rate for China： 2000-2009 |
| |
| 基金项目： | This paper is supported by the Fundamental Research Funds for the Central Universities （No. 2012WYB34） from Beijing Normal University. The authors are grateful for the helpful comments from Kiyotaka Sato, Junko Shimizu, Nagendra Shrestha, Bin Zhang, Qiyuan Xu and other participants in the seminar ＂Establishing Surveillance Indicators for Monetary Cooperation between China and Japan＂ held by the Institute of World Economics and Politics, Chinese Academy of Social Science, 26 28 October 2012, Beijing. |
| |
| 摘 要： | This paper measures the industry-specific real effective exchange rate （REER） for China by matching domestic and foreign industry-level price and trade data series. We find that after 2005 the REER appreciates more in the ＂chemical, plastics, rubber and fuels industry＂ and the ＂＇machinery and equipment industry,＂ but remains roughly constant or even depreciates in other industries. The nominal exchange rate generally accounts for over 50 percent of the aggregate real effective exchange rate JTuetuations, but this conclusion does not apply to three of nine industries. We apply the industry-specific REER to re-examine the relationship between the exchange rate and trade, and find that the industry-specific REER index performs better than the traditional aggregate REER index. We recommend that the Chinese Government officially adopt industry-specific exchange rates instead of using the aggregate effective exchange rates to evaluate the competitiveness of Chinese industries in the international market.
|
| 关 键 词： | 中国政府 汇率 行业 燃料工业 国际市场 国内外 性能比 竞争力 |
| 本文献已被 维普 等数据库收录！ |
|
