Journal of Chaohu University ›› 2019, Vol. 21 ›› Issue (6): 18-25.doi: 10.12152/j.issn.1672-2868.2019.06.003

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On the Relationship Between Exchange Rate System Reform, Real Exchange Rate and Industrial Upgrading

1.ZHAO Hua-chun:Financial College, Jiangxi Normal University, Nanchang Jiangxi 330026;  2.Jeffrey Forrest: School of Business, Pennsylvania State System of Higher Education, Slippery Rock University, PA 16057 USA   

  1. 1.ZHAO Hua-chun:Financial College, Jiangxi Normal University, Nanchang Jiangxi 330026;  2.Jeffrey Forrest: School of Business, Pennsylvania State System of Higher Education, Slippery Rock University, PA 16057 USA
  • Received:2019-09-18 Online:2019-11-25 Published:2019-11-25
  • Contact: ZHAO Hua-chun,Financial College, Jiangxi Normal University, Nanchang Jiangxi 330026
  • About author:ZHAO Hua-chun,Financial College, Jiangxi Normal University, Nanchang Jiangxi 330026

Abstract: By constructing the model of industrial upgrading, real exchange rate and exchange rate system reform,the relationship between exchange rate system reform, real exchange rate and industrial upgrading is deeply studied by using EG two-step, ARCH and GARCH methods. The rise of the RMB exchange rate will help China忆s industrial upgrading, but the upgrading of different industries affected by the RMB exchange rate is asymmetry. The RMB exchange rate has greater impact on light industry upgrading and smaller impact on heavy industry upgrading. Relatively loose, flexible RMB exchange rate system has a positive impact on industrial upgrading. Finally, according to the research results, the corresponding policy recommendations are put forward

Key words: industrial upgrading, exchange rate system reform, real exchange rate for RMB

CLC Number: 

  • F224