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考虑到美元在我国国际贸易中的地位和作用,本文通过对2005年7月到2012年12月的分行业面板数据构建模型,研究发现人民币兑美元本币升值给我国各行业的出口企业造成了很大影响,且具有显著的滞后效应。尽管小部分行业(化学制品(HX)、矿产品(KC)和石油化工(SH))能够将本币升值部分成功传递出去,但是对大部分行业来说,出口企业面对汇率变化已经显得较为被动,并不能将人民币兑美元升值部分较大程度的传递至出口美元价格中去,而只能通过调整出口利润空间稳定出口美元价格。这在很大程度上反映出了我国出口商品在国际市场上并不具备较强的国际竞争力的特征。
Taking into account the status and role of the U.S. dollar in China’s international trade, this paper constructs a model of sub-sector panel data from July 2005 to December 2012 and finds that the appreciation of the renminbi against the U.S. dollar causes great problems for exporters in various industries in China Big impact, and has significant hysteresis effect. Although a small number of industries (HX, KC and SH) can successfully pass the appreciation of the local currency, for most of the industries, the export enterprises have become relatively passive in the face of exchange rate changes , And can not pass the appreciation of the renminbi against the dollar to a greater extent than the export dollar price. The dollar export price can only be stabilized by adjusting the export profit margin. To a large extent, this reflects the fact that China’s exports do not possess strong international competitiveness in the international market.