How much does exchange rate volatility affect China's value-added in exports?

被引：0
|
作者：
Tian K. [1 ,2 ,3 ]
Kong Y. [1 ,2 ]
Yang C. [1 ]
机构：
[1] Academy of Mathematics and Systems Science, Chinese Academy of Sciences, Beijing
[2] University of Chinese Academy of Sciences, Beijing
[3] Faculty of Economics and Business, University of Groningen, Groningen
来源：
Xitong Gongcheng Lilun yu Shijian/System Engineering Theory and Practice | 2017年 / 37卷 / 05期
基金：
中国国家自然科学基金;
关键词：
Exchange rate volatility; Input-output model; Processing trade; Value added in exports;
D O I：
10.12011/1000-6788(2017)05-1144-10
中图分类号：
学科分类号：
摘要：
This paper aims to study how much exchange rate volatility affect China's value-added in exports from the perspective of global value chains. Econometric models are established to estimate the influence of RMB volatility on exports and imports demand. By combining these econometric models with non-competitive input-output model capturing processing trade, this paper further measure the impact of RMB volatility on China's value-added in exports. The results show that RMB volatility not only affect the direct value-added in exports, but also affect the indirect value-added in exports because it affects the substitution of imports for domestic products. Additionally, the results reveal that processing trade mitigate the influence of RMB volatility on value-added in exports. As for the sectors, sectors with higher share of processing trade are less affected. On the contrary, sectors which have higher import price elasticities tend to be more strongly affected. © 2017, Editorial Board of Journal of Systems Engineering Society of China. All right reserved.
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页码：1144 / 1153
页数：9
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