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Misalignment of Renminbi Exchange Rate Revaluation: Estimation and Implications

dc.contributor.authorZhijun Zhao
dc.contributor.authorToshiki Kanamori
dc.date.accessioned2015-04-29T14:29:24Z
dc.date.available2015-04-29T14:29:24Z
dc.date.issued2005-12-15
dc.identifier.urihttp://hdl.handle.net/11540/4171
dc.description.abstractFor the past several years, the revaluation of the renminbi has been a hot topic among policy makers and economists as well as market participants inside and outside the PRC against the background of internal and external disequilibrium of the PRC economy. Based upon the history of the exchange rate system, current arguments made by various stakeholders, and surveys of different theoretical approaches, the authors develop a two-country general equilibrium model to determine the exchange rate, taking particular account of the implications of price rigidity for the policy independence of each country. An empirical test is also introduced to identify the current degree of misalignment of the renminbi compared to its estimated equilibrium rate.
dc.languageEnglish
dc.publisherAsian Development Bank Institute
dc.rightsCC BY 3.0 IGO
dc.rights.urihttps://creativecommons.org/licenses/by/3.0/igo/
dc.titleMisalignment of Renminbi Exchange Rate Revaluation: Estimation and Implications
dc.typeWorking Papers
dc.subject.expertDevelopment
dc.subject.expertFinance
dc.subject.expertDevelopment Challenges
dc.subject.expertDevelopment Issues
dc.subject.expertDevelopment Problems
dc.subject.expertMicroenterprises Finance
dc.subject.expertCommercial Finance Companies
dc.subject.expertEnterprise Financing
dc.subject.expertFinancial Analysis
dc.subject.expertBanking Finance And Investment
dc.subject.adbADB
dc.subject.adbProject finance
dc.subject.adbDevelopment plans
dc.subject.adbStrategic planning
dc.subject.adbBusiness Financing
dc.subject.adbInvestment Requirements
dc.subject.adbInsurance Companies
dc.subject.adbInternational Monetary Relations
dc.subject.adbInternational Financial Market
dc.subject.adbExchange Rate
dc.subject.naturalInsurers
dc.subject.naturalInsurance stocks
dc.subject.naturalInsurance holding companies
dc.subject.naturalInsurance carriers
dc.subject.naturalInsurance agencies
dc.subject.naturalBusiness subsidies
dc.subject.naturalInvestment companies
dc.subject.naturalInternational banks and banking
dc.subject.naturalStock exchanges
dc.subject.naturalGrants
dc.subject.naturalLoans
dc.title.seriesResearch Paper Series
dc.title.volume70
dc.contributor.imprintAsian Development Bank
oar.themeDevelopment
oar.themeFinance
oar.adminregionEast Asia Region
oar.countryPeople's Republic of China
oar.identifierOAR-004636
oar.authorZhao, Zhijun
oar.authorKanamori, Toshiki
oar.importtrue
oar.googlescholar.linkpresenttrue


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  • ADBI Research Paper Series
    The Asian Development Bank Institute (ADBI) research paper series disseminate selected work in progress to facilitate an exchange of ideas within academic and policy communities. An objective of the series is to circulate primary findings promptly, regardless of the degree of finish. ADBI’s activities are guided by its three strategic priority themes of inclusive and sustainable growth, regional cooperation and integration, and governance for policies and institutions.

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