Titlebook: Exchange Rate, Credit Constraints and China’s International Trade; Miaojie Yu Book 2021 Springer Nature Singapore Pte Ltd. 2021 RMB Exchan

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Exchange Rate Movements and Exporter Profitability,red to those of non-exporters, returns on equity in exporting firms dropped by about 5% after RMB appreciation. The more dependence firms have on exporting, the more declines there are in their profitabilities. RMB appreciation raised the relative price of Chinese products, which in turn decreased the capacities of exporters to generate sales.

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Exports, Productivity, and Credit Constraints,s to external finance from financial intermediaries; or (2) they have alternative sources, other than from financial intermediaries, to obtain funds. We test these theoretical hypotheses using firm-level data from Chinese manufacturing industries and find strong evidence supporting the predictions of the model.

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e idea of China as a champion for free trade in the age of p.This book, by one of China‘s leading economists, explores the past and present of the RMB—the people‘s currency—as it is poised to compete with the dollar as the international reserve currency. ..Exchange rate movement and its pass-through

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Does Appreciation of the RMB Decrease Imports to the US from China?,appreciation of the RMB on imports to the United States (US) from China by augmenting the gravity model with the exchange rate. Using an industrial panel data set during the period 2002–2008 and controlling for the endogeneity of the bilateral exchange rate, this extensive empirical analysis suggest

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Exports, Productivity, and Credit Constraints,s chapter examines how a firm’s credit constraints as well as its productivity affect its export decisions. We imbed the firm’s credit constraints into a Melitz-type general-equilibrium model by endogenizing the probability of the success of firm-specific projects. We show that, all else equal, it i