Exchange Rate, Credit Constraints and China’s International Trade

1. Front Matter

   Pages i-xiii

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2. Does Appreciation of the RMB Decrease Imports to the US from China?

   • Miaojie Yu

   Pages 1-29

3. Revaluation of the Chinese Yuan and Triad Trade: A Gravity Assessment

   • Miaojie Yu

   Pages 31-53

4. Exports, Productivity, and Credit Constraints

   • Miaojie Yu

   Pages 55-96

5. Exports and Credit Constraints under Incomplete Information

   • Miaojie Yu

   Pages 97-136

6. Exchange Rate Movements and Exporter Profitability

   • Miaojie Yu

   Pages 137-161

7. Export Tightening, Competition, and Firm Innovation

   • Miaojie Yu

   Pages 163-193

8. Promotion Effect of CNY Appreciation on Export Quality

   • Miaojie Yu

   Pages 195-228

9. Outward Directs Investment, Firm Productivity, and Credit Constraints

   • Miaojie Yu

   Pages 229-243

10. The Effect of RMB Internationalization on Belt and Road Initiative

    • Miaojie Yu

    Pages 245-260

11. The Potential Impacts of China–US BIT on China’s Manufacturing Industries

    • Miaojie Yu

    Pages 261-285

12. Correction to: Exchange Rate, Credit Constraints and China’s International Trade

    • Miaojie Yu

    Pages C1-C1

13. Back Matter

    Pages 287-302

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This book, by one of China's leading economists, explores the past and present of the RMB—the people's currency—as it is poised to compete with the dollar as the international reserve currency. 

Exchange rate movement and its pass-through to changes in domestic prices have been topics of wide concern among economists. However, relatively few studies have empirically investigated the relationship between exchange rate movements and China's international trade.This book fills this gap, using the general equilibrium theory of the western economic science norm systems, integrating the leading heterogeneous firm theory of international trade, attempting to set up a theoretical structural model for further prediction, and applying the data from sample cases to examine the structural model. This book will be of interest to economists, financiers, and China watchers.

• RMB Exchange Rate
• Rise of China
• RMB internationalization
• International Trade
• Chinese Finance

• Peking University, Beijing, China

  Miaojie Yu

Miaojie Yu is a Professor and Deputy Dean of National School of Development (NSD), Peking University. He is deputy director of China Center for Economic Research (CCER), Peking University, and Secretary-General, International Consortium for China Studies. He is a Cheung-Kong Distinguished Scholar of Ministry of Education of China and was awarded China’s National Science Fund for Distinguished Young Scholars.

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