China's Exchange Rate Policy and Its Trade Balance with the US

被引：12

作者：

Xu, Zhenhui ^{[1
]}

机构：

[1] Georgia Coll & State Univ, Dept Econ & Finance, Milledgeville, GA 31061 USA

来源：

REVIEW OF DEVELOPMENT ECONOMICS | 2008年 / 12卷 / 04期

关键词：

D O I：

10.1111/j.1467-9361.2008.00397.x

中图分类号：

F0 [经济学]; F1 [世界各国经济概况、经济史、经济地理]; C [社会科学总论];

学科分类号：

0201 ; 020105 ; 03 ; 0303 ;

摘要：

This paper investigates the claim that China's exchange rate policy causes the US trade deficit with China to grow. Although there is no evidence that changes in the exchange rate cause the trade deficit to rise in the short run, a statistically significant long-run relationship between the RMB/dollar exchange rate and the US trade deficit with China is detected. As the value of the dollar declines (or RMB appreciates), ceteris paribus, so does the trade deficit. Hence, there is a need for China to adjust its exchange rate policy to help reduce the ever mounting US trade deficit.

引用

页码：714 / 727

页数：14

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