汇率体制和出口边际

发布时间：2018-01-26 10:51

本文关键词： 汇率体制汇率低估出口边际　出处：《东南大学学报(哲学社会科学版)》2011年06期 　论文类型：期刊论文

【摘要】：出口边际涵盖了广度边际、深度边际、价格指数、数量指数和质量边际。将109个国家的实际汇率体制分成固定汇率、爬行汇率、管理浮动和自由浮动四类,运用1992-2001年各国对美国的制造业产品出口数据,估计了各类汇率体制对出口边际的影响。研究发现,固定汇率制对出口广度和深度的促进作用是和汇率低估程度紧密相关,只有当汇率低估程度达到30%以上时,固定汇率制才对出口广度和深度起到促进作用。固定汇率和爬行汇率制国家的出口质量较低,而管理浮动制国家的出口质量较高。虽然在固定汇率制下大幅低估汇率能够促进出口,但它是以低价低质为竞争手段的,而管理浮动制能够抑制低价促进出口的程度,使得提高质量成为促进出口的手段,有助于一个国家保持长远的出口竞争力。
[Abstract]:The export margin covers the breadth margin, the depth margin, the price index, the quantity index and the quality margin. The real exchange rate regime of 109 countries is divided into four categories: fixed exchange rate, crawling exchange rate, managing floating and floating freely. Based on the export data of manufacturing products from 1992 to 2001, this paper estimates the effects of various exchange rate regimes on export margin. The effect of fixed exchange rate system on export breadth and depth is closely related to the degree of undervaluation of exchange rate, only when the degree of undervaluation of exchange rate reaches more than 30%. The fixed exchange rate system promotes the breadth and depth of exports. The quality of exports of countries with fixed exchange rates and crawling exchange rates is low. Management of floating countries' exports is of high quality. Although the exchange rate can be greatly underestimated under a fixed exchange rate system, it can promote exports, but it uses low prices and low quality as a means of competition. The management of floating system can restrain the degree of low price to promote exports, make quality improvement become the means to promote exports, and help a country to maintain long-term export competitiveness.
【作者单位】：中欧国际工商学院;香港金融管理局;
【基金】：国家自然科学基金(70773121)成果之一
【分类号】：F832.6
【正文快照】： 一、引言汇率体制对国际贸易的影响是经济学的一个重要课题。从理论上讲,固定汇率制被认为能够促进国际贸易,原因是它排除了由汇率变动带来的不确定因素。在实证上,Rose[1]发现采用同一货币(货币联盟)使得国家之间的贸易量显著提高。Klein,Shambaugh[2]的研究表明,采用直接钉

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