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Politique du change et développement des exportations manufacturées en Chine

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  • Sylvie Guillaumont-Jeanneney
  • Ping Hua
  • Claude Jessua

Abstract

[eng] This paper shows how the modalities of exchange rate policy (exchange arrangements as well as rate variations) contribute to explain the strong real depreciation of the Chinese currency. It relies on an explicative model of the real exchange rate which incorporates, besides devaluation, monetary policy and price controls. It then tests the response of manufactured exports to the change of real exchange rate. [fre] L'article montre comment les modalités de la politique de change, dans sa double dimension (réglementation des opérations et taux de change), contribue à expliquer la forte dépréciation réelle de la monnaie. Il se fonde sur un modèle explicatif du taux de change réel qui intègre, à côté de la dévaluation, la politique monétaire et le contrôle des prix. Il teste ensuite la sensibilité des exportations de biens manufacturés à la variation du taux de change réel.

Suggested Citation

  • Sylvie Guillaumont-Jeanneney & Ping Hua & Claude Jessua, 1996. "Politique du change et développement des exportations manufacturées en Chine," Revue Économique, Programme National Persée, vol. 47(3), pages 851-860.
    • Handle: RePEc:prs:reveco:reco_0035-2764_1996_num_47_3_409824
    DOI: 10.3406/reco.1996.409824
    Note: DOI:10.3406/reco.1996.409824
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    References listed on IDEAS

    as
    1. Portes, Richard & Santorum, Anita, 1987. "Money and the consumption goods market in China," Journal of Comparative Economics, Elsevier, vol. 11(3), pages 354-371, September.
    2. Feltenstein, Andrew & Ha, Jiming, 1991. "Measurement of repressed inflation in China : The lack of coordination between monetary policy and price controls," Journal of Development Economics, Elsevier, vol. 36(2), pages 279-294, October.
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    Cited by:

    1. Sylviane GUILLAUMONT JEANNENEY & Ping HUA, 2000. "Ouverture économique et dépenses publiques en Chine : une analyse régionale," Working Papers 200006, CERDI.
    2. Guillaumont Jeanneney, S. & Hua, P., 2001. "How does real exchange rate influence income inequality between urban and rural areas in China?," Journal of Development Economics, Elsevier, vol. 64(2), pages 529-545, April.
    3. Sylviane GUILLAUMONT JEANNENEY & Ping HUA, 2000. "Economic openness and public expenditure in China: a regional analysis," Working Papers 200005, CERDI.
    4. Ping HUA, 2004. "Compétitivité-prix des exportations chinoises sur les marchés des pays industrialisés," Working Papers 200417, CERDI.
    5. Guillaumont Jeanney, Sylviane & HUA, Ping, 2002. "The Balassa-Samuelson effect and inflation in the Chinese provinces," China Economic Review, Elsevier, vol. 13(2-3), pages 134-160.
    6. Sylviane GUILLAUMONT JEANNENEY & Ping HUA, 2001. "The Balassa-Samuelson effect and inflation in the Chinese provinces," Working Papers 200106, CERDI.
    7. Ping HUA, 2005. "Real exchange rate and employment in the manufacturing sector in China," Working Papers 200528, CERDI.
    8. Guillaumont Jeanneney, Sylviane & Hua, Ping, 2011. "How does real exchange rate influence labour productivity in China?," China Economic Review, Elsevier, vol. 22(4), pages 628-645.
    9. Yue, Changjun & Hua, Ping, 2002. "Does comparative advantage explains export patterns in China?," China Economic Review, Elsevier, vol. 13(2-3), pages 276-296.

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