Full-Text Search:
Home|Journal Papers|About CNKI|User Service|FAQ|Contact Us|中文
《Journal of Finance and Economics》 2009-04
Add to Favorite Get Latest Update

Research on Foreign Exchange Intervention,Employment and Macro-economic Growth——An Example of Empirical Studies on Foreign Exchange Intervention in China from 1994 to 2007

LU Zhi-ming,CHEN Shi (1.National Philosophy and Social Sciences Innovation Base for Public Management and Public Policy Studies,Fudan University,Shanghai 200433,China;2.Institute of Urban Finance,Industrial and Commercial Bank of China,Beijing 100036,China)  
This paper analyzes the relationship among foreign exchange intervention,employment and macro-economic growth by constructing a theoretical model.It considers that the central bank can benefit from foreign exchange intervention which could effectively reduce the possibility of big fluctuations of employment and economic growth.Based on the theoretical model,the paper makes an empirical study on the implementation effect of foreign exchange policy from 1994 to 2007 and obtains main conclusions which are consistent with the theoretical model.Market-oriented RMB foreign exchange intervention could lead to positive intervention earnings and reduce the possibility of fluctuations of employment and economic growth.It would be a rational choice to carry out more flexible foreign exchange intervention policy for China affected by sub-prime lending crisis.
【CateGory Index】: F832.6;F249.2;F124;F224
Download(CAJ format) Download(PDF format)
CAJViewer7.0 supports all the CNKI file formats; AdobeReader only supports the PDF format.
【Citations】
Chinese Journal Full-text Database 2 Hits
1 HUA Min (Institute of World Economy, Fudan University, Shanghai 200433, China);Malthus Limit and the Way of Economic Development[J];Fudan Journal(Social Sciences Edition);2005-05
2 Chen Langnan & Huang Xun (Institute of Economics,Zhongshan University);Empirical Assessment on the Effectiveness of Joint Intervention in the Foreign Exchange Market[J];Economic Research Journal;2004-05
【Co-citations】
Chinese Journal Full-text Database 10 Hits
1 HE Yan (Economics School Huazhong University of Science and Technology,Hubei Wuhan, China,430074);Problems and Suggestion for Improving to the Exchange Sterilization Operation of China's Central Bank[J];THE STUDY OF FINANCE AND ECONOMICS;2000-04
2 HE Hui-gang(Institute for Financial Studies,Fudan University,Shanghai 200433,China);A Study on Foreign Exchange Sterilized Intervention and Monetary Policy Independence in China[J];Journal of Finance and Economics;2007-11
3 DING Jian-ping 1 MA Jun-ling 2 QIAN Xiao-yan 3 (1. Reaearch Center for Modern Finance, 2.Postdoctoral Station, 3.School of Economics, Shanghai University of Finance and Economics, Shanghai 200433);Unilateral and Cooperated Intervention: Enlightenment to China[J];Fudan Journal(Social Sciences Edition);2004-06
4 HUA Min(Institute of World Economy,Fudan University,Shanghai 200433,China);Chinese Nation's Great Rejuvenation in the World Economic Development[J];Fudan Journal(Social Sciences Edition);2009-01
5 Guo Tianyong Chenjia;A Study of Effectiveness of PBOC's Intervention with Foreign Exchange Market[J];Studies of International Finance;2006-07
6 JIANCAI PI(Peking University);Explanations of the Needham Puzzle:Where Do We Stand?——Discussion with Wen Guanzhong,Zhang Yuyan,and Edwards Ronald[J];China Economic Quarterly;2007-01
7 Wang Nan Lv Jian Li;China central bank foreign market intervention's present situation,problem and countermeasures[J];Special Zone Economy;2006-08
8 WANG Wei-an, TAO Hai-fei(Department of Finance, Zhejiang University, Hangzhou 310027, China );Effectiveness Analysis on China's Foreign Exchange Intervention Channel[J];Journal of Zhejiang University(Humanities and Social Sciences);2005-01
9 HU Yue-ming (Zhejiang Business Technology Institute, Ningbo 315012, China);Extensive Points of View for Exchange Control in China[J];Journal of Zhejiang Business Technology Institute;2006-03
10 LIU Guo-feng;Measurement of China's Financial Risks Induced by Input of International Speculative Capital[J];Journal of Central University of Finance & Economics;2008-05
China Proceedings of conference Full-text Database 1 Hits
1 Pi Jiancai (School of Economics, Fudan University);Explanations of the Needham Puzzle:Where Do We Stand?Dicussing with Wen Guanzhong, Zhang Yuyan, and Edwards[A];[C];2006
©2006 Tsinghua Tongfang Knowledge Network Technology Co., Ltd.(Beijing)(TTKN) All rights reserved