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http://hdl.handle.net/10419/63359
  

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DC FieldValueLanguage
dc.contributor.authorZhang, Yinen_US
dc.contributor.authorWan, Guanghuaen_US
dc.date.accessioned2012-09-21T09:30:58Z-
dc.date.available2012-09-21T09:30:58Z-
dc.date.issued2004en_US
dc.identifier.isbn9291906441en_US
dc.identifier.urihttp://hdl.handle.net/10419/63359-
dc.description.abstractThis paper proposes a structural VAR model which extends the frameworks of Hoffmaister and Roldós (2001) and Prasad (1999). The model is then used to analyse the sources of China’s trade balance fluctuations in the period of 1985–2000. Efforts are made to distinguish the forces which underlie the long-run trend in trade balance from those with transitory impacts. The effects of four types of shock are examined—the foreign supply shock, the domestic supply shock, the relative demand shock, and the nominal shock. Among other findings, two emerge as important. First, the movements in China’s trade are largely the result of real shocks. Second, the Renminbi is undervalued, yet changes in the exchange rate bear little on the trade balance. Therefore, monetary measures would not suffice to redress China’s trade ‘imbalance’. – China ; trade balance ; real exchange rate ; structural VAR ; Law of One Priceen_US
dc.language.isoengen_US
dc.publisherUNU-WIDER Helsinkien_US
dc.relation.ispartofseriesResearch Paper, UNU-WIDER, United Nations University (UNU) 2004/55en_US
dc.subject.jelO53en_US
dc.subject.jelF40en_US
dc.subject.jelE0en_US
dc.subject.ddc330en_US
dc.subject.stwHandelsbilanzen_US
dc.subject.stwMonetäre Außenwirtschaftstheorieen_US
dc.subject.stwChinaen_US
dc.titleWhat accounts for China's trade balance dynamics?en_US
dc.typeWorking Paperen_US
dc.identifier.ppn477328393en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:WIDER Research Papers, United Nations University (UNU)

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