政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/10825

English | 正體中文 | 简体中文 | Post-Print筆數 : 27 | Items with full text/Total items : 113648/144635 (79%)
Visitors : 51617948 Online Users : 529

RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.

Home ‧ Login ‧ Upload ‧ Help ‧ About ‧ Administer

政大機構典藏 > 社會科學學院 > 國家發展研究所 > 期刊論文 > Item 140.119/10825

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/10825

Title:	The Renminbi Exchange Rate in the Increasingly Open Economy of China: A Long-Term Strategy and a Short-Term Solution
Authors:	童振源 Tung,Chen-yuan
Contributors:	政大國發所
Keywords:	Renminbi exchange rate;exchange rate regime;impossible trinity;balance-of-payments crises models;hot money
Date:	2007-03
Issue Date:	2008-11-28 12:21:33 (UTC+8)
Abstract:	This paper begins by providing two theoretical perspectives on the Renminbi (RMB) exchange rate issue: the principle of the impossible trinity and the self-fulfilling balance-of-payments crises models. Based on these theoretical perspectives, the paper elaborates on China`s external and internal economic imbalances. Finally, the paper argues that a practical approach for the Chinese government to consider would be to allow the RMB to appreciate by 10 percent by early 2007, to expand the floating band of the RMB exchange rate from ± 0.3 percent to 5-7 percent, and to maintain central parity based on a new RMB rate until it is again in disequilibrium by a wide margin. Nevertheless, there is no timetable for an adjustment of the RMB exchange rate as long as the Chinese government can tolerate the expanding economic bubble, escalating financial risks, and foreign political pressure resulting from the undervalued RMB. However as long as China`s economy remains overheated and expectations of a RMB revaluation persist, the awesome power of the international financial market will most likely create a `self-fulfilling prophecy` of RMB appreciation in the future.
Relation:	Issues & Studies , 43(1), 79-114
Data Type:	article
Appears in Collections:	[國家發展研究所] 期刊論文

Files in This Item:

File	Description	Size	Format
79-114-a.pdf		1489Kb	Adobe PDF2	1062	View/Open

社群 sharing

著作權政策宣告 Copyright Announcement

1.本網站之數位內容為國立政治大學所收錄之機構典藏，無償提供學術研究與公眾教育等公益性使用，惟仍請適度，合理使用本網站之內容，以尊重著作權人之權益。商業上之利用，則請先取得著作權人之授權。
The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

2.本網站之製作，已盡力防止侵害著作權人之權益，如仍發現本網站之數位內容有侵害著作權人權益情事者，請權利人通知本網站維護人員(nccur@nccu.edu.tw)，維護人員將立即採取移除該數位著作等補救措施。
NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.

Loading...