人民幣升值對(duì)中國(guó)獨(dú)資型FDI的影響
發(fā)布時(shí)間:2024-06-13 21:19
近年來(lái),尤其是2005年7月21日中國(guó)人民銀行宣布開始實(shí)行以市場(chǎng)供求為基礎(chǔ),參考一籃子貨幣進(jìn)行調(diào)節(jié)的管理浮動(dòng)匯率制度以來(lái),人民幣開始顯著持續(xù)地升值。2010年6月19日二次匯改正式啟動(dòng)后,人民幣對(duì)美元開始再次升值并在年末加速?zèng)_刺至一美元兌換6.5897元人民幣,全年累計(jì)升值3.6%。據(jù)國(guó)際清算銀行測(cè)算,2010年人民幣實(shí)際有效匯率基本穩(wěn)定,但匯改重啟以后因美元走弱而略有下降。預(yù)計(jì)2011年人民幣實(shí)際有效匯率將恢復(fù)溫和上升,在美元繼續(xù)走弱的情況下,人民幣對(duì)美元匯率至年底可升至6.35左右,全年升值約4%。 自改革開放以來(lái),作為一個(gè)外資引進(jìn)大國(guó),中國(guó)2010年累計(jì)吸收外資1057.4億美元,同比增長(zhǎng)17.4%。其中,2008年吸引外資923.95億美元,居世界第一位,連續(xù)17年穩(wěn)居發(fā)展中國(guó)家首位。同時(shí),外商投資企業(yè)在中國(guó)經(jīng)濟(jì)發(fā)展中起著越來(lái)越重要的作用,主要體現(xiàn)在推動(dòng)經(jīng)濟(jì)快速發(fā)展、活躍市場(chǎng)經(jīng)濟(jì)、提供資金來(lái)源、改善企業(yè)效益、擴(kuò)大出口、增加財(cái)政收入、引進(jìn)先進(jìn)生產(chǎn)技術(shù)、提升人力資源等許多方面。 然而,在中國(guó)吸引外資不斷增加的過(guò)程中,外資進(jìn)入中國(guó)的方式也不斷發(fā)生變化:由最初的合作模式漸漸地轉(zhuǎn)變?yōu)楹腺Y...
【文章頁(yè)數(shù)】:82 頁(yè)
【學(xué)位級(jí)別】:碩士
【文章目錄】:
ABSTRACT
摘要
Chapter Ⅰ Introduction
1.1 Background and Significance of the Paper
1.2 Literature Review
1.3 Definitions of Core Coneepts
1.4 Structures and Contents of the Paper
1.5 Research Methods
1.6 Innovations and Limitations
Chapter Ⅱ Analysis of the Development and Causes of RMB Appreciation
2.1 Historical Reviews of RMB Exchange Rate Regime and RMB Exchange Rate
2.1.1 First Stage from 1978 to 1994
2.1.2 Second Stage from 1994 to July 2005
2.1.3 Third Stage from July 2005 to 2011
2.2 Choice of RMB Exchange Rate Regime
2.2.1 Analysis of Factors Affecting Choice of RMB Exchange Rate Regime
2.2.2 Short and Medium-term Goal of RMB Exchange Rate Regime Reform
2.2.3 Long-term Goal of RMB Exchange Rate Regime Reform
2.3 Analysis of the Pressures of RMB Appreciation
2.3.1 Persistent External Pressures of RMB Appreciation
2.3.2 Persistent Internal Pressure of RMB Appreciation
Chapter Ⅲ Analysis of the Trend of FDI in Sole Ventures in China
3.1 Development of FDI in China
3.1.1 First Stage from 1978 to 1992
3.1.2 Second Stage form 1992 to 2005
3.1.3 Third Stage from 2005 to 2011
3.2 Means and Ways of Sole Ventures
3.2.1 Newly Built Companies
3.2.2 Investment through Equity Transfer
3.2.3 Mergers and Acquisitions
3.2.4 Integration of Subsidiaries in China
3.3 Reasons of Sole Ventures
3.3.1 Steadily Improved Investment Environment in China
3.3.2 Fundamental Guarantee to Maintain Monopoly Advantages
3.3.3 Effective Way to Sole Management Conflict
3.3.4 Important Measure to Achieve Global Strategy
3.3.5 Pursuit of High Profits and Control of Returns
Chapter Ⅳ Theoretical Analysis of the Impact of RMB Appreciation onFDI
4.1 Factors of the Impact of RMB Appreciation on FDI
4.1.1 Increasing the Cost of Foreign Investment in China
4.1.2 Decreasing the Competitiveness of China's Exports
4.1.3 Reducing the Prices of Imported Goods
4.1.4 Increasing the Expected Earnings of Foreign-invested Enterprises
4.1.5 Reducing the Economic Growth Rate of China
4.2 Theoretical Analysis of the Impact of RMB Appreciation on FDI
4.2.1 Wealth Effect
4.2.2 Relative Production Cost Effect
4.2.3 Risk Effect
4.2.4 Department Effect
4.2.5 Competitiveness Effect
Chapter Ⅴ Empirical Analysis of the Impact of RMB Appreciation onFDI in Sole Ventures in China
5.1 Model Design and Description
5.2 Empirical Analysis Methods
5.3 Variables and Data
5.4 Cointegration Analysis
5.4.1 Unit Root Test
5.4.2 Cointegration Test
Chapter Ⅵ Strategies for Utilizing FDI in the Context of RMBAppreciation
6.1 Strategies of Micro-economic Entities
6.1.1 Improving the Capability of "Learning by Doing" and Striving to Master Core Technologies
6.1.2 Enhancing Core Competitiveness by Technological Innovation
6.1.3 Strengthening Brand Awareness and Protecting Well-known Brands
6.2 Strategies of the Government
6.2.1 Changing Concepts of Foreign Policy and Making Adjustments
6.2.2 Preventing Monopoly Acts of Multinational Companies
6.2.3 Increasing Intellectual Property Protection and Emphasizing on R&D Investment of State-owned Enterprises
6.3 Conclusion
REFERENCES
ACKNOWLEDGEMENTS
本文編號(hào):3993652
【文章頁(yè)數(shù)】:82 頁(yè)
【學(xué)位級(jí)別】:碩士
【文章目錄】:
ABSTRACT
摘要
Chapter Ⅰ Introduction
1.1 Background and Significance of the Paper
1.2 Literature Review
1.3 Definitions of Core Coneepts
1.4 Structures and Contents of the Paper
1.5 Research Methods
1.6 Innovations and Limitations
Chapter Ⅱ Analysis of the Development and Causes of RMB Appreciation
2.1 Historical Reviews of RMB Exchange Rate Regime and RMB Exchange Rate
2.1.1 First Stage from 1978 to 1994
2.1.2 Second Stage from 1994 to July 2005
2.1.3 Third Stage from July 2005 to 2011
2.2 Choice of RMB Exchange Rate Regime
2.2.1 Analysis of Factors Affecting Choice of RMB Exchange Rate Regime
2.2.2 Short and Medium-term Goal of RMB Exchange Rate Regime Reform
2.2.3 Long-term Goal of RMB Exchange Rate Regime Reform
2.3 Analysis of the Pressures of RMB Appreciation
2.3.1 Persistent External Pressures of RMB Appreciation
2.3.2 Persistent Internal Pressure of RMB Appreciation
Chapter Ⅲ Analysis of the Trend of FDI in Sole Ventures in China
3.1 Development of FDI in China
3.1.1 First Stage from 1978 to 1992
3.1.2 Second Stage form 1992 to 2005
3.1.3 Third Stage from 2005 to 2011
3.2 Means and Ways of Sole Ventures
3.2.1 Newly Built Companies
3.2.2 Investment through Equity Transfer
3.2.3 Mergers and Acquisitions
3.2.4 Integration of Subsidiaries in China
3.3 Reasons of Sole Ventures
3.3.1 Steadily Improved Investment Environment in China
3.3.2 Fundamental Guarantee to Maintain Monopoly Advantages
3.3.3 Effective Way to Sole Management Conflict
3.3.4 Important Measure to Achieve Global Strategy
3.3.5 Pursuit of High Profits and Control of Returns
Chapter Ⅳ Theoretical Analysis of the Impact of RMB Appreciation onFDI
4.1 Factors of the Impact of RMB Appreciation on FDI
4.1.1 Increasing the Cost of Foreign Investment in China
4.1.2 Decreasing the Competitiveness of China's Exports
4.1.3 Reducing the Prices of Imported Goods
4.1.4 Increasing the Expected Earnings of Foreign-invested Enterprises
4.1.5 Reducing the Economic Growth Rate of China
4.2 Theoretical Analysis of the Impact of RMB Appreciation on FDI
4.2.1 Wealth Effect
4.2.2 Relative Production Cost Effect
4.2.3 Risk Effect
4.2.4 Department Effect
4.2.5 Competitiveness Effect
Chapter Ⅴ Empirical Analysis of the Impact of RMB Appreciation onFDI in Sole Ventures in China
5.1 Model Design and Description
5.2 Empirical Analysis Methods
5.3 Variables and Data
5.4 Cointegration Analysis
5.4.1 Unit Root Test
5.4.2 Cointegration Test
Chapter Ⅵ Strategies for Utilizing FDI in the Context of RMBAppreciation
6.1 Strategies of Micro-economic Entities
6.1.1 Improving the Capability of "Learning by Doing" and Striving to Master Core Technologies
6.1.2 Enhancing Core Competitiveness by Technological Innovation
6.1.3 Strengthening Brand Awareness and Protecting Well-known Brands
6.2 Strategies of the Government
6.2.1 Changing Concepts of Foreign Policy and Making Adjustments
6.2.2 Preventing Monopoly Acts of Multinational Companies
6.2.3 Increasing Intellectual Property Protection and Emphasizing on R&D Investment of State-owned Enterprises
6.3 Conclusion
REFERENCES
ACKNOWLEDGEMENTS
本文編號(hào):3993652
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