基于全球价值链视角的中美制造业实际有效汇率研究

发布时间：2018-04-10 03:06

本文选题：全球价值链　切入点：中美制造业　出处：《国际贸易问题》2017年08期

【摘要】：随着价值链发展的不断深入,一国贸易中的国内增加值不断影响着名义有效汇率,也影响着实际有效汇率。本文基于全球价值链视角,立足于中美两国的制造业贸易增加值数据,研究了中美两国整体制造业及各分行业的实际有效汇率,探讨了中美两国整体制造业实际有效汇率的共同特点以及分行业实际有效汇率的差异性。通过对实际有效汇率波动的分解和对有关面板数据的实证检验,发现中美两国名义有效汇率波动对实际有效汇率的影响远大于相对价格;而贸易增加值权重下实际有效汇率对中美两国制造业贸易增加值的作用也不相同。
[Abstract]:With the development of value chain, the domestic value added in a country's trade influences the nominal effective exchange rate and the real effective exchange rate.Based on the value added data of manufacturing industry in China and the United States, this paper studies the real effective exchange rate of the manufacturing industry of China and the United States as a whole, and the real effective exchange rate of each sub-industry, based on the perspective of global value chain.This paper discusses the common characteristics of the real effective exchange rate in the manufacturing industry of China and the United States as well as the difference of the actual effective exchange rate in different industries.Through the decomposition of the real effective exchange rate fluctuation and the empirical test of the relevant panel data, it is found that the nominal effective exchange rate fluctuation of China and the United States has much greater effect on the real effective exchange rate than the relative price.Under the weight of added value of trade, the effect of real effective exchange rate on the value added of manufacturing industry in China and the United States is also different.
【作者单位】：南京大学经济学院;南京大学长江三角洲发展研究中心;
【基金】：国家社科基金重大项目“全球价值链发展变化与我国创新驱动发展战略研究”(15ZDA060) 教育部人文社科重点基地重大项目“长江三角洲全面建设小康社会中的开放发展研究”(16JJD790025)
【分类号】：F424;F471.2;F832.6

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