摘要
人民币汇率的变动,不仅会直接影响外向型行业中外资企业的贸易出口,同时对企业的内外源融资以及资产价格也会产生间接影响。而当此类企业的贸易出口受创,同时再伴有融资受阻以及资产价格泡沫,就会对企业产生深刻的负面影响。这种负面影响如果持续并恶化下去,将不可避免地出现空心化现象。本文在人民币升值背景下对贸易出口变动等因素与外向型行业中外资企业空心化现象的关系进行了理论分析,并结合实际经济数据进行了实证检验。
The fluctuations of RMB exchange rate have impacts not only on the investment and trade export of foreign companies in export-oriented industries but also on asset price. The decrease in investment and trade export and the bub- bles of asset price will bring negative effect on our export-oriented economy. If these factors persist for a long time, they will inevitably lead to the hollow- ing-out of foreign enterprises in the export-oriented industries. Against the back- ground of RMB appreciation, this paper analyzes the factors that affect the hol- lowing-out of those companies from both theoretical and empirical perspectives.
出处
《国际贸易问题》
CSSCI
北大核心
2014年第2期135-146,共12页
Journal of International Trade
基金
北京高等学校青年英才计划项目(项目编号:YETP0923)~~
关键词
外向型行业
贸易出口
空心化
人民币升值
Export-oriented industry
Trade export
Hollowing-out
RMB ap- preciation
