摘要
本文基于22种HS分类出口商品的面板数据,按照行业特征对其进行分类,考察了2001年1月至2007年8月间中国出口商品总体和各行业分类的汇率传递率,并在此基础上讨论了出口商的盯市能力。结论显示:基于比较优势、加工贸易特征、市场结构和世界市场竞争程度等方面的差异,各行业面对人民币汇率升值时的出口价格传递是极不相同的,表现出不同的盯市能力:具有传统比较优势的劳动密集型行业具备超强的盯市能力,在人民币升值时出口商能降低本币出口价格;而以加工贸易为特征的一些高科技制造业存在不完全汇率传递现象。
Based on the panel data of all 22 categories of exports under HS Classification, this paper reclassifies these exports according to their industry attributes, calculates the exchange rate pass-through to the aggregate export price and specific industries export prices, and then discusses the exporters＇ capability of pricing to market from Jan 2001 to Aug 2007. The conclusion is that, attributed to differences in the comparative advantages, processing trades, market structures and the degree of competition in the world market, exchange rate pass-through has different effects in different industries, and exporters located in various industries show distinct capability of pricing to market： labor-intensive industries which have the traditional comparative advantages exhibit super-strong capability of pricing to market, where exporters can lower the export prices in domestic currency when facing the RMB appreciation. Characteristic of processing trades, some high-tech manufactures have the phenomenon of incompleteness of exchange rate pass-through effect.
出处
《经济研究》
CSSCI
北大核心
2007年第12期106-117,共12页
Economic Research Journal
基金
教育部重大攻关项目(05JZD00012)
国家自然科学基金项目(70573021)
上海社科基金项目(2006BJB002)的阶段性成果
