人民币实际汇率变动对制造业企业绩效的影响

发布时间：2017-12-30 20:38

本文关键词：人民币实际汇率变动对制造业企业绩效的影响　出处：《华东理工大学》2017年硕士论文　论文类型：学位论文

【摘要】：汇率是国际贸易中两国货币交换的相对价格,是影响一国产品在国际市场上竞争力的重要因素之一。制造业是一个国家的立足之本,是推动经济持续增长、提升国家综合国力和核心竞争力的重要力量。从2009年开始我国己经成为了世界上第一大出口国和第二大进口国,2015年我国工业制成品总产值3.62万亿美元,其中对外出口 2.17万亿美元,占工业制成品总产值的59.9%,随着人民币汇率机制改革不断深化,人民币汇率波动幅度也在加大,汇率成为了影响我国产品竞争力的重要因素,因此分析汇率变动对我国制造业企业绩效影响具有重要意义。本文利用2000-2006年中国工业企业数据库和海关贸易数据库资料,从出口收益、进口成本和进口竞争这三个途径来研究行业实际有效汇率变动对制造业企业绩效的影响,发现人民币升值通过出口收益渠道能提高本国产品以外币表示的价格,对企业绩效有负向影响;人民币升值通过进口成本渠道能降低以本国货币表示进口中间品成本价格,对企业绩效有正向影响,对于进口竞争渠道,汇率升值会降低进口产品的价格,进而给本国企业在国内销售的产品更大的竞争压力,对企业的绩效的负向影响。同时还发现人民币行业实际有效汇率对企业绩效的影响因企业生产率、行业集中度、要素密集度和所有制的不同而表现出差异性。
[Abstract]:Exchange rate is the relative price of currency exchange between the two countries in international trade, and it is one of the important factors that affect the competitiveness of a country's products in the international market. Since 2009, China has become the world's largest exporter and the second largest importer. In 2015, the total output value of China's manufactured goods was 3.62 tillion US dollars, of which 2.17 tillion US dollars was exported to foreign countries, accounting for 59.9% of the total output value of manufactured goods. With the deepening of the reform of RMB exchange rate mechanism, the fluctuation range of RMB exchange rate is also increasing. Exchange rate has become an important factor affecting the competitiveness of our products. Therefore, it is of great significance to analyze the impact of exchange rate changes on the performance of Chinese manufacturing enterprises. This paper uses the database of China's industrial enterprises and the customs trade database from 2000 to 2006 to analyze the export earnings. Import cost and import competition are three ways to study the effect of real effective exchange rate changes on the performance of manufacturing enterprises. It is found that RMB appreciation can increase the price of domestic products expressed in foreign currency through export earnings. It has negative influence on enterprise performance; RMB appreciation can reduce the cost of imported intermediate goods in local currency through the channel of import cost, which has a positive impact on enterprise performance. For the channel of import competition, the appreciation of exchange rate will reduce the price of imported products. Furthermore, it gives more competitive pressure to the products sold by domestic enterprises, which has a negative impact on the performance of enterprises. At the same time, it also finds that the real effective exchange rate of RMB industry affects the performance of enterprises because of their productivity. Industry concentration, factor density and ownership are different.
【学位授予单位】：华东理工大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F832.6;F425;F406.7

【参考文献】