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The Dynamics of Real Interest Rates, Real Exchange Rates and the Balance of Payments in China: 1980-2002
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Author/Editor: |
Jin, Zhongxia |
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April 1, 2003 |
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Electronic Access: |
Free Full Text (PDF file size is 816KB)
Use the free Adobe Acrobat Reader to view this PDF file.
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.
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Summary: Based on China's experience between 1980 and 2002, a cointegrated vector autoregression model was established to explore the relationships among real interest rates, real exchange rates and balance of payments in China. Taking into account institutional changes, the empirical study shows that significant and usually non-monotonic interactions exist between these three variables. The paper discusses theoretical and policy implications of the empirical result.
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Series: |
Working Paper No. 03/67 |
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Subject(s): |
Real interest rates | China | Exchange rates | Balance of payments | Economic models | China, People's Republic of |
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Author's keyword(s): |
Interest Rates
| Exchange Rates
| China
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Published: |
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April 1, 2003 |
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ISBN/ISSN: |
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1934-7073 |
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Format: |
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Paper |
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Stock No: |
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WPIEA0672003 |
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Pages: |
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27 |
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Price: |
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US$15.00
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