人民币实际均衡汇率:决定因素和协整检验  

The Practical Equilibrium RMB Exchange Rate:Decisive Factors and Cooperative Examination

作　　者：胡朝晖[1] 

机构地区：[1]广东金融学院,广东广州510521

出　　处：《广东金融学院学报》2005年第5期54-59,共6页Journal of Guangdong University of Finance

摘　　要：贸易条件、政府非贸易品支出、开放程度、技术进步、外国直接投资、利差、通胀率之差是人民币均衡实际汇率的长期决定因素。通过对这些决定因素的协整检验,得出人民币实际均衡汇率大于实际有效汇率,因此,人民币升值具有必然性。Trading condition, non-trading commodities export by government, technology development, and direct foreign investment, difference in interest rate, and inflation are all decisive factors of the practical equilibrium RMB exchange rate. Through the examination of these factors, it＇s concluded that the practical equilibrium rate is bigger than the practical effective rate. As a result, the revaluation of RMB is an inevitable outcome.

关 键 词：人民币 实际均衡汇率 实际有效汇率 协整检验 

分 类 号：F820.2[经济管理—财政学]