Tong Jiadong、Mao Qilin:RMB Exchange Rate,Export Margins and Export Dynamics

Date of publication:2016-3-15There have been0A reader to read the article

RMB Exchange RateExport Margins and Export Dynamics

Abstract    Based on the firm-level micro data and highly disaggregated customs data from 2000 to 2007this paper tries to investigate the effects of RMB real effective exchange rate on Chinese manufacturers' export. The results show that:(1) The appreciation of RMB real effective exchange rate has a negative effect on Chinese manufacturers' export decisionexport priceexport quantity and export valueThe impact on quantityprice and value is bigger than firms' export decision-makingmeaning more effect on the intensive margin than the expand marginInside the intensive borderenterprises react to the impact mainly by adjusting the export quantity(2) The effects are significantly different among firms with different characteristicsincluding productivitysize financing constraintsownership and way of trade(3) The appreciation of RMB real effective exchange rate shortens the duration of export


This paper is published in World Economy Studies, No.3, 2016.