中美双边汇率影响美国在华直接投资的实证分析--基于状态空间模型
Empirical Analysis of bilateral exchange rate impact of US direct investment in China
自2005年7月21日人民币汇率制度重大改革后，人民币对美元持续升值。时至2014年，虽然人民币升值趋势有所减缓但汇率波动的幅度增加，这势必影响美国在华直接投资。本文通过构造状态空间模型，选取2005年3季度至2014年3季度数据，实证检验中美双边汇率通过直接和间接两个机制对美国在华直接投资的影响，结果表明直接机制的影响更为剧烈。
Since July 21, 2005 a major reform of the RMB exchange rate regime, there has a continued appreciation of the RMB against the US dollar. Until the year of 2014, although the appreciation of the RMB exchange rate volatility trend has slowed while the magnitude of the increase, which is bound to affect the US direct investment in China. In this paper, by constructing a state-space model, selecting the data from the third quarter of the year 2005 to the third quarter of the year2014, empirical bilateral exchange rate through direct and indirect impact of the two mechanisms of US direct investment in China, and the results show that the mechanism of the direct impact of more intense.
方婷婷、徐炜
世界经济财政、金融
中美双边汇率直接投资状态空间模型
bilateral exchange rateU.S. direct investment in Chinastate space model
方婷婷,徐炜.中美双边汇率影响美国在华直接投资的实证分析--基于状态空间模型[EB/OL].(2015-04-17)[2025-08-10].http://www.paper.edu.cn/releasepaper/content/201504-272.点此复制
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