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  • The Relationship Between the Real Exchange Rate and Balance of Payments: Empirical Evidence for China from Cointegration and Causality Testing

    Author(s)
    Narayan, Paresh
    Smyth, Russell
    Griffith University Author(s)
    Narayan, Paresh
    Year published
    2004
    Metadata
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    Abstract
    This article examines the relationship between the renminbi real exchange rate and China's foreign exchange reserves using cointegration and Granger causality testing. The main findings are that in the long run foreign exchange reserves Granger cause the real exchange rate. Meanwhile, in the short run there is unidirectional Granger causality running from foreign exchange reserves to the real exchange rate.This article examines the relationship between the renminbi real exchange rate and China's foreign exchange reserves using cointegration and Granger causality testing. The main findings are that in the long run foreign exchange reserves Granger cause the real exchange rate. Meanwhile, in the short run there is unidirectional Granger causality running from foreign exchange reserves to the real exchange rate.
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    Journal Title
    Applied Economics Letters
    Volume
    11
    DOI
    https://doi.org/10.1080/1350485042000221535
    Subject
    Public Health and Health Services
    Applied Economics
    Banking, Finance and Investment
    Publication URI
    http://hdl.handle.net/10072/5378
    Collection
    • Journal articles

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