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International Conference on Engineering and Business Management (EBM 2010 PAPERBACK)

Chengdu,China,China,3.24-3.26,2010

ISBN: 978-1-935068-05-1 Scientific Research Publishing, USA

Paperback 6066pp Pub. Date: March 2010

Category: Engineering

Price: $280

Title: Effects of RMB Appreciation on China’s Economic Sectors —Based on Computable General Equilibrium Model Analysis
Source: International Conference on Engineering and Business Management (EBM 2010 PAPERBACK) (pp 3951-3954)
Author(s): Jie XIE, School of Finance, Shanghai University of Finance and Economics, Shanghai, China ;School of Economic, Zhejiang Gongshang University, Hangzhou, China
Abstract: Abstract: A Computable General Equilibrium (CGE) is constructed to evaluate the impact of the appreciation of Renminbi (RMB) on China’s economic sectors quantitatively. The base year database for our CGE model--Social Accounting Matrix (SAM) of 2005 is constructed based on the latest 2005 input-output tables of China. The main results are as follows: RMB appreciation reduces the output of most sectors, except for the construction and services sector. Increased demand for the construction and services sector induces more output because currency revaluation’s wealth effect causes the domestic purchasing power to strengthen. RMB appreciation reduces demands for agricultural labor and most non-agricultural labor. Increased demand for the construction and services sector induces more labor demand because RMB revaluation’s wealth effect.
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