Revaluing the RMB Effective Exchange Rate and Re-examining China's External Competitiveness: Based on the Perspective of Global Value Chain
The effective exchange rate is important for a country's foreign economic policymaking. Whether it is the assessment of external competitiveness, global imbalance readjustment, or the discussion of whether the RMB exchange rate is undervalued or overvalued, the assessment of the effective exchange rate is indispensable. The development of global value chain research has injected brand-new blood into the study of effective exchange rate. This book focuses on the measurement of the effective exchange rate of the RMB based on global value chains, especially expanding it to the measurement of the effective exchange rate of value added of the non-tradable goods sector in sub-industries and the related policy implications. The database of RMB value added effective exchange rate formed in this book has been incorporated into the database of heterogeneous effective exchange rate of the Institute of World Economics and Politics of the Chinese Academy of Social Sciences.
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