Journal of East China Normal University (Philosophy and Social Sciences) >

2007 , Vol. 39 >Issue 4: 104 - 110

DOI: https://doi.org/10.16382/j.cnki.1000-5579.2007.04.020

The Real Bilateral Exchange Rate of RMB and Sino-Korean Trade Balance——An Empirical Research Based on Time Series

  • Yan ZHOU ,
  • Ya-li JIA
Expand
  • College of Economics, Shandong University, Jinan 250100, Shandong, China

Received date: 2007-01-26

  Online published: 2007-07-25

Fold

Abstract

Applying a co-integration and error correction model and employing bilateral data from 1991 Q1 to 2005 Q4, this paper attempts to explore the relationship between bilateral real exchange rate of RMB and Sino-Korea trade balance.The result indicates that there is a steady long-term relationship between bilateral real exchange rate of RMB and Sino-Korea trade balance.However, since the elasticity of exchange rate is too small, the change of exchange rate has a limited influence on Sino-Korea trade balance.In a short-run there is no lag on Sino-Korea trade balance processed by the real exchange rate.The slow appreciation of RMB will not bring great fluctuation to Sino-Korea trade balance.

Key words： RMB exchange rate; bilateral exchange rate; real exchange rate; trade balance

Cite this article

Yan ZHOU , Ya-li JIA . The Real Bilateral Exchange Rate of RMB and Sino-Korean Trade Balance——An Empirical Research Based on Time Series[J]. Journal of East China Normal University (Philosophy and Social Sciences), 2007 , 39(4) : 104 -110 . DOI: 10.16382/j.cnki.1000-5579.2007.04.020

References

1 Miles M. A., The Effects of Devaluation onthe Trade Balance and the Balance of Payments: Some NewResults, Journal ofPolitical Economics, 1979, (3): 600-620.
2 Bahmani O. M., Devaluation and the J-curve: Some Evidence fromLDCs., The Reviewof Economics and Statistics, 1985, (67): 500-504.
3 Demirden. T. and Pastine. I., Flexible Exchange Rates andthe J-curve: an Alternative Approach, Economics letters, 1995, (48): 687-695.
4 胡颖尧 , 1996, 《人民币贬值和J曲线效应的实证分析》, 《世界经济文汇》 第3期。,45-49.
5 谢建国、 陈漓高 , 2002, 《人民币汇率与贸易收支: 协整研究与冲击分解》, 《世界经济》 第9期。,27-34.
6 卢向前、 戴国强 , 2005, 《人民币实际汇率波动对我国进出口的影响》, 《经济研究》 第5期。,31-39.
7 Rose A. K. and Yellen J. L., Is There a J-curve? Journal of Monetary Economics, 1989, (24): 53-68.
8 Marwah. K. and Klein. L. R., Estimation of J-curve: United States and Canada, Canadian Journal of Economics, 1996, (29): 523-539.
9 Bahmani-Oskooee, M. and Ratha, Artatrana, The J-curve: A Literature Review. Applied Economics, 2004, (36): 1377-1398.
10 任兆璋 , 2004, 《人民币实际汇率与贸易收支实证分析》, 《现代财经》 第11期。,29-34.
11 叶永刚、 胡利琴、 黄斌 , 2006, 《人民币实际有效汇率和对外贸易收支的关系》, 《金融研究》 第4期。,1-10.
Options
Outlines

/

〈 〉