汇率变动的微观效应分析

发布时间：2018-03-12 10:51

本文选题：汇率　切入点：汇率变动　出处：《东岳论丛》2011年01期 　论文类型：期刊论文

【摘要】：自2005年7月21日我国实行有管理的浮动汇率制度以来,伴随着人民币汇率的持续升值,汇率变动对我国企业的盈利能力产生了较大的影响。已有的研究成果多集中在汇率变动对企业影响的直接效应方面,而本文则在已有文献基础上分别运用Dixit-Stiglitz进口模型和柯布.道格拉斯函数分析了汇率变动对企业所导致的直接效应和间接效应。对于汇率变动的直接效应而言,汇率变动对企业价格影响程度取决于企业在其出口市场所占份额和产品的替代程度。企业价格的汇率弹性与国际市场上产品间的替代程度成正相关关系,与企业市场份额负相关。对于汇率变动的间接效应而言,汇率变动将导致企业生产过程中的要素替代,加速技术升级过程。对于出口数量的影响程度,则与企业所生产产品的要素密集度有关。汇率升值,将对本国生产要素密集度大的产品的出口数量影响较大。
[Abstract]:Since July 21st 2005, China has implemented a managed floating exchange rate system, with the continuous appreciation of the RMB exchange rate. Exchange rate changes have had a great impact on the profitability of Chinese enterprises. Most of the existing research results have focused on the direct effects of exchange rate changes on enterprises. On the basis of existing literature, this paper uses Dixit-Stiglitz import model and Cobb Douglas function to analyze the direct and indirect effects of exchange rate changes on enterprises. The influence of exchange rate change on the enterprise price depends on the share of the enterprise in its export market and the degree of substitution of the product. The exchange rate elasticity of the enterprise has a positive correlation with the degree of substitution among the products in the international market. For the indirect effect of exchange rate change, the exchange rate change will lead to the substitution of factors in the enterprise production process, accelerate the process of technological upgrading. The exchange rate appreciation will have a great impact on the export quantity of the products with high production factor intensity.
【作者单位】：中国石油大学(华东)经济管理学院;
【分类号】：F832.6

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