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Factors affecting Chinese foreign exchange reserves.

机译:影响中国外汇储备的因素。

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摘要

China's foreign exchange reserve balances have been a critical issue in all aspects of its economic activities during the past several decades. For the sake of studying China's rational foreign exchange reserves evaluation standards, it is imperative to analyze all kinds of correlated factors' influences on reserve balances. The literature on foreign exchange reserves finds that the exchange rate is claimed to be one of the most critical factors. The thesis applies two empirical methodologies to study the relationships between different factors and reserve balances and specially the relationship between the nominal exchange rates and reserve balances. Based on the methods such as ordinary least squares (OLS) test, cointegration tests and Granger tests, it is concluded that the growth of reserve balances is positively affected by China's GDP, degree of dependence on trade and exchange rate stability. Nominal exchange rate should be floating at some acceptable interval to ease home currency appreciation pressure and realize optimal reserve balances.;Key words. Foreign Exchange Reserves, Correlated Factors Analysis, Nominal Exchange Rate, Granger Test.
机译:在过去的几十年中,中国的外汇储备余额一直是其经济活动各个方面的关键问题。为了研究中国合理的外汇储备评估标准,必须分析各种相关因素对储备余额的影响。有关外汇储备的文献发现,汇率被认为是最关键的因素之一。本文运用两种经验方法研究了不同因素与准备金余额之间的关系,特别是名义汇率与准备金余额之间的关系。根据普通最小二乘(OLS)检验,协整检验和格兰杰检验等方法,得出的结论是,储备余额的增长受到中国GDP,贸易依存度和汇率稳定性的积极影响。名义汇率应在某个可接受的区间内浮动,以缓解本币升值压力并实现最佳的储备平衡。外汇储备,相关因素分析,名义汇率,格兰杰检验。

著录项

  • 作者

    Song, Yang.;

  • 作者单位

    University of South Carolina.;

  • 授予单位 University of South Carolina.;
  • 学科 Economics General.;Political Science International Law and Relations.
  • 学位 M.A.
  • 年度 2009
  • 页码 64 p.
  • 总页数 64
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类
  • 关键词

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