摘要
关于汇率对经济增长的影响及影响机制研究由来已久,汇率变动可以通过价格效应、利率效应以及财富效应来影响经济增长。除此之外,汇率变动还可以通过研发投资效应影响经济增长:汇率升值将使国内企业的研发投资下降,研发投资的下降使得企业生产的边际成本增加,从而带来国内市场的产出下降以及产品价格的上升,不利于本国经济增长。因此,对于当前正处于升值通道的人民币汇率,如何避免过度升值,最大程度降低升值的负面影响,显得尤其重要。
It has been long time since scholars attached may affect economic growth through price effect, interest importance to the research on the connection. Exchange rate change rate effect and assets effect. In addition, exchange rate change may affect economy growth through R＆D effect. The appreciation results in the falling of R＆D spending from firm, which increases home firm＇s marginal cost, reduces production in home country, and run up price. In the end, the rate of economic growth is frustrated. Therefore, it is especially important on how to avoid excess appreciation and reduce negative effect for the climbing exchange rate of RMB.
出处
《经济与管理》
2008年第1期56-60,共5页
Economy and Management
关键词
汇率变动
R&D
古诺模型
日元升值
经济增长
exchange rate change
R＆D
Coumot model
appreciation of Yen
economic growth
