| 摘要: |
| 汇率波动是影响FDI流入的重要因素。基于1994~2012年的时间序列数据，本文构建带
有金融危机变量的模型和利用邹氏检验法对后危机时代人民币实际汇率波动与FDI流
入的关系进行实证分析。经过实证检验发现，金融危机改变了人民币实际汇率波动与
FDI流入之间原有的负相关关系，中国成为外资的“避风港”和外商规避贸易壁垒是
后危机时代人民币实际汇率波动有利于FDI流入的两个主要因素。同时，人民币实际
汇率的波动更加贴近市场实际汇率水平，会增加FDI的流入，有利于我国经济的发展
与稳定。 |
| 关键词: 后危机时代 实际汇率波动 FDI |
| DOI： |
|
| 基金项目:南京信息工程大学本科生优秀毕业论文（设计）支持计划项目资助。 |
|
| The Effect of RMB Real Exchange Rate Volatility on China’s FDI Infl owsin the Post-crisis Era |
| LI Qing-ting,GE He-ping |
|
| Abstract: |
| The exchange rate volatility is an important factor that can influence the inflow of FDI. Based on the
series data from 1994 to 2012, this paper uses Clow testing and constructs a model with a variable representing
financial crisis to analyze the correlation between real exchange rate volatility of RMB and the inflow of FDI.
Through an empirical analysis, we find that this correlation turns out to be opposite. There are two main factors
accounting for the positive influence. One is that China has become a shelter for foreign funds. The other is that the
foreign traders want to avoid trade barriers. Meanwhile, we conclude that if the exchange rate volatility is further
close to the real exchange rate of the market, it can increase the inflow of FDI which may be beneficial to the
development and stability of our economy. |
| Key words: post-crisis era real exchange rate volatility foreign direct investment |
