Empirical Analysis of the Influence of RMB Appreciation on Export Trade in Zhejiang

摘要

This paper uses Box-Jenkins method to analyze the influence of recent years' RMB appreciation on export trade of Zhejiang Province. Results from empirical analysis present that RMB appreciation makes no significant influence , but only small fluctuations for a very short period on Zhejiang export volumes. This conclusion is in contradiction with ordinary theories of exchange rate. It is because that recently, Zhejiang export structure has taken great changes. As a result, we should pay more attention to trade structures while analyzing the impact on export trade caused by exchange shocks.