Exchange Rate Sensitivity Of China S Bilateral Trade Flows

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Exchange Rate Sensitivity Of China S Bilateral Trade Flows

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Author : Jiao Wang
language : en
Publisher:
Release Date : 2006

Exchange Rate Sensitivity Of China S Bilateral Trade Flows written by Jiao Wang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.

China S Exchange Rate Regime And The Us China Bilateral Exchange Rate Sensitivity Of Their Bilateral Trade Flows

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Author : Lei Gao
language : en
Publisher:
Release Date : 2004

China S Exchange Rate Regime And The Us China Bilateral Exchange Rate Sensitivity Of Their Bilateral Trade Flows written by Lei Gao and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with categories.

The Structural Behavior Of China Us Trade Flows

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Author : Yin-Wong Cheung
language : en
Publisher:
Release Date : 2014

The Structural Behavior Of China Us Trade Flows written by Yin-Wong Cheung and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.

China S Trade Flows

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Author : Ms.Valerie Cerra
language : en
Publisher: International Monetary Fund
Release Date : 1999-01-01

China S Trade Flows written by Ms.Valerie Cerra and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-01-01 with Business & Economics categories.

Over the past 20 years, the Chinese authorities have undertaken wide-ranging reforms of their exchange and trade systems that have steadily reduced the role of planning and increased the importance of market forces. As these reforms have taken root, relative prices and domestic and foreign demand would be expected to have played a bigger role in determining trade flows. Econometric estimates of export and import equations provide evidence that trade flows have indeed become increasingly price sensitive, owing to the gradual liberalization of the trade regime over time, and to the growing shares of foreign-funded enterprises and manufactures in total trade.

China S Growing Role In World Trade

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Author : Robert C. Feenstra
language : en
Publisher: University of Chicago Press
Release Date : 2010-03-10

China S Growing Role In World Trade written by Robert C. Feenstra and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-03-10 with Business & Economics categories.

In less than three decades, China has grown from playing a negligible role in international trade to being one of the world's largest exporters, a substantial importer of raw materials, intermediate outputs, and other goods, and both a recipient and source of foreign investment. Not surprisingly, China's economic dynamism has generated considerable attention and concern in the United States and beyond. While some analysts have warned of the potential pitfalls of China's rise—the loss of jobs, for example—others have highlighted the benefits of new market and investment opportunities for US firms. Bringing together an expert group of contributors, China's Growing Role in World Trade undertakes an empirical investigation of the effects of China's new status. The essays collected here provide detailed analyses of the microstructure of trade, the macroeconomic implications, sector-level issues, and foreign direct investment. This volume's careful examination of micro data in light of established economic theories clarifies a number of misconceptions, disproves some conventional wisdom, and documents data patterns that enhance our understanding of China's trade and what it may mean to the rest of the world.

China S Current Account And Exchange Rate

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Author : Yin-Wong Cheung
language : en
Publisher:
Release Date : 2009

China S Current Account And Exchange Rate written by Yin-Wong Cheung and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Balance of payments categories.

We examine whether the Chinese exchange rate is misaligned and how Chinese trade flows respond to the exchange rate and to economic activity. We find, first, that the Chinese currency, the renminbi (RMB), is substantially below the value predicted by estimates based upon a cross-country sample, when using the 2006 vintage of the World Development Indicators. The economic magnitude of the mis-alignment is substantial -- on the order of 50 percent in log terms. However, the misalignment is typically not statistically significant, in the sense of being more than two standard errors away from the conditional mean. However, this finding disappears completely when using the most recent 2008 vintage of data; then the estimated undervaluation is on the order of 10 percent. Second, we find that Chinese multilateral trade flows respond to relative prices -- as represented by a trade weighted exchange rate -- but the relationship is not always precisely estimated. In addition, the direction of the effects is sometimes different from what is expected a priori. For instance, Chinese ordinary imports actually rise in response to a RMB depreciation; however, Chinese exports appear to respond to RMB depreciation in the expected manner, as long as a supply variable is included. In that sense, Chinese trade is not exceptional. Furthermore, Chinese trade with the United States appears to behave in a standard manner -- especially after the expansion in the Chinese manufacturing capital stock is accounted for. Thus, the China-US trade balance should respond to real exchange rate and relative income movements in the anticipated manner. However, in neither the case of multilateral nor bilateral trade flows should one expect quantitatively large effects arising from exchange rate changes. And, of course, these results are not informative with regard to the question of how a change in the RMB/USD exchange rate would affect the overall US trade deficit. Finally, we stress the fact that considerable uncertainty surrounds both our estimates of RMB misalignment and the responsiveness of trade flows to movements in exchange rates and output levels. In particular, the results for trade elasticities are sensitive to econometric specification, accounting for supply effects, and for the inclusion of time trends.

China S Exchange Rate Regime And Its Effects On The U S Economy

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Author : United States. Congress. House. Committee on Financial Services. Subcommittee on Domestic and International Monetary Policy, Trade, and Technology
language : en
Publisher:
Release Date : 2004

China S Exchange Rate Regime And Its Effects On The U S Economy written by United States. Congress. House. Committee on Financial Services. Subcommittee on Domestic and International Monetary Policy, Trade, and Technology and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Business & Economics categories.

Are Chinese Exports Sensitive To Changes In The Exchange Rate

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Author : Shaghil Ahmed
language : en
Publisher: DIANE Publishing
Release Date : 2011-04

Are Chinese Exports Sensitive To Changes In The Exchange Rate written by Shaghil Ahmed and has been published by DIANE Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-04 with Business & Economics categories.

Builds a model of two types of Chinese exports, those processed and assembled from imported inputs ("processed" exports (PE)) and "non-processed" exports (NPE). When the source of the increase in the Chinese real exchange rate (CRER) is appreciation against the currencies of other emerging Asian trading partners, the effect on PE is positive but insignificant, while the effect on NPE is negative. By contrast, when the source of the increase in the CRER is appreciation against China's advanced-economy trading partners, the effects on both types of exports are negative. Thus greater exchange rate flexibility could contribute to lowering China's trade surplus through restraining growth of exports. Illustrations. A print on demand report.

Exchange Rate Credit Constraints And China S International Trade

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Author : Miaojie Yu
language : en
Publisher: Springer Nature
Release Date : 2021-01-05

Exchange Rate Credit Constraints And China S International Trade written by Miaojie Yu and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-01-05 with Business & Economics categories.

This book, by one of China's leading economists, explores the past and present of the RMB—the people's currency—as it is poised to compete with the dollar as the international reserve currency. Exchange rate movement and its pass-through to changes in domestic prices have been topics of wide concern among economists. However, relatively few studies have empirically investigated the relationship between exchange rate movements and China's international trade.This book fills this gap, using the general equilibrium theory of the western economic science norm systems, integrating the leading heterogeneous firm theory of international trade, attempting to set up a theoretical structural model for further prediction, and applying the data from sample cases to examine the structural model. This book will be of interest to economists, financiers, and China watchers.

Exchange Rate Sensitivity Of Us Bilateral Trade Flows

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Author : Mohsen Bahmani-Oskooee
language : en
Publisher:
Release Date : 2008

Exchange Rate Sensitivity Of Us Bilateral Trade Flows written by Mohsen Bahmani-Oskooee and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with categories.

The traditional way of assessing the impact of currency depreciation on the trade balance has been to estimate the elasticity of trade volume to relative prices. To this end, most previous studies used aggregate trade data. To avoid aggregation biases potentially hidden in aggregate data, recent studies have relied on bilateral trade data. Since import and export price data is not available on bilateral level, this study proposes an alternative way of assessing the impact of currency depreciation on bilateral trade flows. The models are applied between the US and her nineteen industrial trading partners using recent advances in time-series modeling.