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Exchange-rate volatility in China and its impact on foreign trade

机译:中国的汇率波动及其对外贸的影响

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This paper investigates empirically the impact of real exchange-rate volatility on the trade flows of China over the quarterly period 1994 - 2005. Estimates of the cointegrating relations are obtained using different cointegration techniques. The major results show that depreciation of exchange rate affected Chinese export weakly. Chinese export is mainly affected by real GDP and price of trade partner. At the same time, depreciation of exchange rate affected Chinese import weakly. Chinese import is mainly affected by domestic real GDP and price of trade partner and China.
机译:本文通过实证研究了1994年至2005年每季度实际汇率波动对中国贸易流量的影响。使用不同的协整技术获得了协整关系的估计值。主要结果表明,汇率贬值对中国出口的影响很小。中国的出口主要受到实际GDP和贸易伙伴价格的影响。同时,汇率贬值对中国进口的影响很小。中国进口主要受国内实际国内生产总值和贸易伙伴以及中国价格的影响。

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