有关汇率变动影响企业投资的研究综述

A review on research over impacts of exchange rate changes above enterprise investments

文章介绍了有关汇率变动影响企业投资的相关文献,指出汇率水平变化通过价格效应和成本效应两条途径影响企业投资,其影响程度与企业类型、成本加成、垄断力量等有关。而关于汇率波动对企业投资的影响则有正向、负向和关系不明确三种结论并存。在当前人民币汇率波动不断加大的背景下,从理论上弄清汇率变动与企业投资之间的关系具有重要意义。

This paper reviews relevant literatures relating to the impacts of exchange rate changes on enterprise investments and points out that exchange rate changes affect enterprise investments through prices and costs.The degree of such impacts is determined by the type, cost-plus,and monopoly power of enterprises.There are three coexisting results for the impacts of exchange rate changes on enterprise investments：positive impact,negative impact and unclear impact.Because RMB exchange rate fluctuation is constantly sharp at present,it is very important to develop a theoretical understanding of the relationship between exchange rate changes and enterprise investments.