The Trade Imbalance between the United States and China : The Role of Exchange Rate and Trade Liberalization

• 발행기관: 한국농식품정책학회
• 저자명: Gue dae Cho Won W. Koo
• 간행물 정보: 『농업경영.정책연구』농업경영·정책연구 33권 4호, 1048~1067쪽, 전체 20쪽
• 주제분류: 농수해양 > 식품과학
• 파일형태: PDF
• 발행일자: 2006.12.31

영문 초록

The pattern of trade between the United States and China has dramatically changed during the past fifteen years. Until 1992, the commodity trade volume between the two countries was around 10 billion U.S. dollar per year, but it grew to 60 billion dollars in 1999. Because China has kept its currency (yuan or renminbi) pegged to the U.S. dollar since 1994, its current large trade surplus with the United States has led some critics to claim that the yuan is undervalued. The aim of this paper is to examine the effect of the U.S.-China bilateral exchange rate on the pattern of trade between the two countries after controlling for alternative factors influencing U.S.-Chinese bilateral trade flows. The results suggested that the U.S.-China bilateral exchange rate does not have an important role in explaining bilateral trade between the two countries, while the relative exchange rate between the United States and the South-East Asian countries are more important in explaining the trade imbalance problem.

목차

Abstract

I. Introduction

II. U.S-Chinese Bilateral Trade

III. Alternative Factors

IV. Empirical Model

V. Date and Estimation Methods

V. Results

VI. A Summary and Conclusions

References

키워드

US-China Bilateral Trade Exchange Rate Intra-Industry Trade