The Analysis Of The Influence Of RMB Appreciation On Export Structure Of China's Industrial Manufactured Goods

In this thesis,the role of RMB appreciation in promoting the optimization and upgrading of the export structure of China's industrial manufactured goods is studied theoretically and empirically.In the part of theoretical research,based on the classical theories of local currency appreciation and export structure,factor endowment,elasticity,production costs,exchange rate pass-through,inward and outward FDI are considered as the main mechanisms through which the appreciation of local currency promotes upgrading of a country's export structure.In the part of empirical research,the period from 1994 to 2008 in China is chosen as the research object.The situation how RMB exchange rate changed and its trend are analyzed.Then the situation how the export structure of China's industrial manufactured goods changed is discussed under the standards of the proportion of commodity types,competitiveness and comparative advantage,the status of the international division of labor by calculating the corresponding indicators.Econometric model is also built,and Johansen co-integration test and Granger causality test show that factors such as the real effective exchange rate of RMB,income growth rate of the importing country,the international flow of physical capital play positive roles in promoting the upgrading of the export structure of China's industrial manufactured goods.In the last part,this thesis puts forward some corresponding policy recommendations such as promoting market-oriented exchange rate,improving the RMB exchange market, implementing tilt policies,accelerating the introduction of advanced technologies and equipments and independent R&D.