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The relationship between the real exchange rate and balance of payments: empirical evidence for China from cointegration and causality testing

journal contribution
posted on 2004-04-01, 00:00 authored by Paresh Narayan, R Smyth
This article examines the relationship between the renminbi real exchange rate and China's foreign exchange reserves using cointegration and Granger causality testing. The main findings are that in the long run foreign exchange reserves Granger cause the real exchange rate. Meanwhile, in the short run there is unidirectional Granger causality running from foreign exchange reserves to the real exchange rate.

History

Journal

Applied Economics Letters

Volume

11

Issue

5

Pagination

287 - 291

Publisher

Routledge

Location

New York, N.Y.

ISSN

1350-4851

eISSN

1466-4291

Language

eng

Publication classification

C1.1 Refereed article in a scholarly journal

Copyright notice

2004, Taylor and Francis

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