Earticle

초록

영어

The relationship between the Relative Purchase Power (RPP) and GDP per capita was examined. In this paper we applied several estimation method such as the POLS (pooled ordinary least square), Fixed effects, Parks, Fama Macbeth, Newy West and Cluster in approaches to ensure statistical robustness. We analyzed how much undervalued the RMB is by using the six approaches in 1980-2010. According to our empirical results, the extent of RMB undervaluation is a progressively decreasing in each year since 1984. And the RMB has been converging to the equilibrium exchange rate; it is only undervalued by roughly 4.7% and 2.7% until 2010 from the Parks and Cluster in approaches, respectively. In order to establish the strategic economic restructure, a fine-tuning monetary policy sould have been carried out by Chinese government. Chinese government should increase flexibility of RMB exchange rate and expand the floating range of RMB exchange rate gradually.

목차

Abstract
 Ι. Introduction
 II. Literature Reviews
 III. Model
 IV. Empirical results
 V. Conclusion
 References

키워드

저자

• Yu Seung Hun [ Pusan National University, College of Business ] Professor 1st author
• Kim Seog soo [ Pusan National University, Graduate School of International Studies, Professor ] Corresponding author
• Yu Guang Dong [ Pusan National University, College of Business, Ph.D ]

참고문헌

발행기관

간행물

표지보기 관심저널 등록

• 간행물명

  무역통상학회지 [Journal of Korea Research Association of International Commerce]

• 간기

  격월간

• pISSN

  1738-4354

• 수록기간

  2001~2025

• 등재여부

  KCI 등재

• 십진분류

  KDC 326 DDC 380