人民币国际化、汇率变动与人民币FDI关系研究

A Study on the Relationship among the Internationalization of RMB,Exchange Rate Fluctuation and the Foreign Direct Investment in RMB

基于国际货币循环角度,分析人民币国际化、汇率变动与人民币FDI的互动关系,结果表明:人民币国际化程度的提高会使人民币产生升值压力,人民币升值会促进人民币国际化;人民币国际化和人民币FDI之间存在相互促进的关系;人民币贬值引起人民币FDI规模增加,人民币FDI对人民币汇率的影响不显著。

Based on the perspective of the international monetary cycle, we analyze the interactive relations among the internationalization of RMB, exchange rate fluctuation and foreign direct investment in RMB. Results show that the increasing in degree of RMB internationalization will exert pressure on the appreciation of RMB, which in turn promotes the internationalization of RMB;the internationalization of RMB and the foreign direct investment in RMB are of the mutual promotion;RMB devaluation will lead to increasing amount of the foreign direct investment in RMB. The impact of the foreign direct investment in RMB on the RMB exchange rate is not significant.