The Effect Of Exchange Rate Pass Through On China's Manufacturing Industry Under Global Value Chain

Manufacturing is the main industry in China,This article selects the manufacturing industry as the research object,According to the Input-Output table to classify the manufacturing into 14 industry.Divided Manufacturing into low technology department,Low and middle technology department;Medium to high technology department and the high technology department.According to the factor of endowment and product properties,Divided Manufacturing into labor-intensive industry;Capital-intensive industry and knowledge-intensive industry.Low technology industry had the highest trade added value,Food production and tobacco industry's DVS is 94%,Textile and garment industry' DVS is 88%From 2000 year to 2011 year.Machinery manufacturing industry Dropped from 82%in 2000 to 79%in 2011,The Upstream participation and the Downstream participation all has a rising trend;At the same time to see,The Upstream participation is higher than the Downstream participation.This atrial study of exchange rate pass through from the perspective of trade value and global value chain;We come to the conclusion that in the case of control other variables unchanged,Analysis from an absolute Perspective,The higher DVS the higher exchange rate pass through.The global value chain participation in the opposite direction to the exchange rate pass through.