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The mystery of the Chinese exchange rate regime: basket or no basket?

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  • Imad Moosa
  • Larry Li

Abstract

Economists have taken for granted the claim made by the Chinese government that the policy shift introduced in July 2005 constituted a change in the exchange rate regime from a fixed peg to a basket peg. We demonstrate that neither the stylized facts nor the empirical evidence support the proposition of a basket peg and suggest several reasons as to why China has not adopted this regime. The results could prove useful for identifying the Chinese exchange rate regime in the aftermath of the perceived policy shift following the August 2015 devaluation.

Suggested Citation

  • Imad Moosa & Larry Li, 2017. "The mystery of the Chinese exchange rate regime: basket or no basket?," Applied Economics, Taylor & Francis Journals, vol. 49(4), pages 349-360, January.
    • Handle: RePEc:taf:applec:v:49:y:2017:i:4:p:349-360
    DOI: 10.1080/00036846.2016.1197370
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    Cited by:

    1. Frederik Kunze, 2020. "Predicting exchange rates in Asia: New insights on the accuracy of survey forecasts," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 39(2), pages 313-333, March.
    2. Kunze, Frederik, 2017. "Predicting exchange rates in Asia: New insights on the accuracy of survey forecasts," University of Göttingen Working Papers in Economics 326, University of Goettingen, Department of Economics.
    3. Imad A. Moosa, 2020. "The Thucydides Trap as an Alternative Explanation for the US–China Trade War," Global Journal of Emerging Market Economies, Emerging Markets Forum, vol. 12(1), pages 42-55, January.

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