人民币汇率变动对我国对外投资的影响研究

The Impact of RMB Exchange Rate Fluctuation on China's Outward Foreign Investment

通过GARCH模型和动态面板模型,对人民币汇率变动对我国对外直接投资的影响进行了实证分析.结果表明:在长期内,人民币汇率无论是汇率水平变化还是汇率波动都对我国对外直接投资存在影响,人民币升值,我国对外直接投资增加;汇率波动幅度越大,我国对外直接投资也会增加.

The impact of the RMB exchange rate fluctuations on China＇s foreign direct investment was empirically analyzed by GARCH model and dynamic panel data model. The results show that,in the long term, the RMB exchange rate, whether it is the exchange rate or exchange rate fluctuations, has an impact on China＇s foreign direct investment, when RMB appreciates, Chings foreign direct investment increases; the greater the exchange rate fluctuations, the increase China＇s foreign direct investment.