人民币汇率变动对中国OFDI的影响——以对东盟十国投资为例

发布时间：2018-05-31 21:19

本文选题：人民币汇率 + 汇率波动　；参考：《国际商务(对外经济贸易大学学报)》2017年03期

【摘要】：本文利用面板模型,以中国对东盟各国直接投资为例,研究了自2005年人民币汇率改革以来,人民币汇率变动对中国对外直接投资产生的影响。结果表明:人民币升值有利于OFDI,但是人民币汇率非对称性的波动加大了中国OFDI风险,人民币汇率每波动一个百分点,会导致OFDI减少两个百分点;此外,中国经济实力的上升也促进了中国企业"走出去"。基于此,本文作者认为中国企业应把握好人民币加入SDR所带来的机遇,加快人民币市场化和国际化进程,同时中国还应有效管理汇率预期,并控制人民币汇率的波动程度,这对人民币成为国际货币具有一定的启示和借鉴意义。
[Abstract]:Taking China's direct investment in ASEAN countries as an example, this paper studies the impact of RMB exchange rate changes on China's foreign direct investment (FDI) since the RMB exchange rate reform in 2005. The results show that the appreciation of the RMB is beneficial to the OFDI, but the asymmetric fluctuation of the RMB exchange rate increases the risk of China's OFDI. For every one percentage point fluctuation of the RMB exchange rate, the OFDI will be reduced by two percentage points. The rise of China's economic power has also boosted Chinese companies to "go out." Based on this, the author holds that Chinese enterprises should grasp the opportunity brought about by the entry of RMB into SDR, speed up the process of RMB marketization and internationalization, and at the same time, China should manage the exchange rate expectation effectively and control the fluctuation degree of RMB exchange rate. This becomes the international currency to RMB has certain enlightenment and the reference significance.
【作者单位】：对外经济贸易大学中国世界贸易组织研究院;首都经济贸易大学经济学院;中国社会科学院研究生院;
【基金】：国家社会科学基金重大项目“正确处理经济平稳较快发展、调整经济结构、管理通胀预期的关系研究”(12&ZD038) 北京市教育委员会创新团队项目“北京经济结构调整与外贸发展研究”(IDHT20130522)
【分类号】：F125;F832.6

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