摘要
本文将可贸易品部门企业异质性引入巴拉萨-萨缪尔森效应模型,考察了出口产品分散化对实际汇率的影响。研究表明,出口产品分散化程度的提升会导致实际汇率升值。随后利用IMF开发的从产品层面测算的出口分散化数据集,以160个国家和地区(1962-2010年)为样本检验了理论模型,经验证据支持本文的理论预测。进一步将出口产品分散化分解为扩展边际和集约边际两个维度后发现,出口产品分散化主要通过扩展边际的出口产品分散化对实际汇率产生影响,集约边际的出口产品分散化对实际汇率并无统计意义上的显著影响。
Based on the assumption that firms belonging to the tradable sector are heterogeneous, this paper introduces this heterogeneity into the traditional Balassa Samuelson effect model in order to explore the impact that export product diversification has on real exchange rate. The study finds that a higher level of export product diversification results in real exchange rate appreciation. Drawing on the export product diversification dataset developed by the IMF, the paper tests this theoretical prediction and finds supporting evidence from a sample of 160 economies (1962-2010). When export product diversification is deconstructed into extensive and intensive margins, evidence shows that the impact on the real exchange rate is mainly activated along the extensive margin, while the intensive margin has no statistically significant effect on the real exchange rate.
作者
亢宇君
刘晓辉
Kang Yujun;Liu Xiaohui
出处
《世界经济》
CSSCI
北大核心
2019年第12期166-188,共23页
The Journal of World Economy
基金
国家社科基金一般项目“我国环境规制对经常账户的影响与应对策略研究”(19BJL131)
教育部人文社会科学重点研究基地重大项目“人民币汇率制度弹性的测度、影响因素及其经济绩效研究”(15JJD790028)
教育部“创新团队发展计划”滚动支持项目“经济转型期稳定物价的货币政策”(IRT_17R52)的资助
关键词
出口产品分散化
扩展边际
集约边际
实际汇率
export product diversification
extensive margin
intensive margin
real exchange rate
作者简介
亢宇君,西南财经大学中国金融研究中心,四川省成都市温江区柳台大道555号格致楼6楼,611130,电子信箱:kangyujun_swufe@outlook.com;刘晓辉,西南财经大学中国金融研究中心,四川省成都市温江区柳台大道555号格致楼6楼,611130,电子信箱:libyxiaohui@126.com。
