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The Dynamics of Real Interest Rates, Real Exchange Rates and the Balance of Payments in China 1980-2002

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 s...

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Bibliographic Details
Main Author: Jin, Zhongxia
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2003
Series:IMF Working Papers
Subjects:
Interest Rates
Foreign Exchange Reserves
Exchange Rate Arrangements
Finance
Financial Services
Real Interest Rates
Real Effective Exchange Rates
Currency
Central Banks
Foreign Exchange
International Reserves
Banks And Banking
Banking
Real Exchange Rates
Interest Rates: Determination, Term Structure, And Effects
Exchange Rates
Monetary Policy
China, People's Republic Of
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
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
Physical Description:28 pages
ISBN:9781451848922

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