摘要
利用中国1978-2006年的面板数据，建立较为合理的进出口对数模型，运用Johansen协整检验对进出口贸易与汇率波动的关系进行了实证研究，文中得出的结论是：改革开放以来，我国进出口贸易与汇率之间存在协整关系，并且汇率波动对出口贸易的影响较大，而对进口贸易的影响比较微弱。
Based on the panel data of 1978-2006 of China, the paper establishes a reasonable logarithm model, and utilizes Johansen cointegration test to inspect the relationship between import, export and RMB exchange rate fluctuation. A conclusion is drawn as below： since the policy of reform and opening-up, there is a cointegration relation between them, and RMB exchange rate fluctuation has a strong effect on export, but a weak one on import.
