【摘要】 人民币汇率持续升值对我国的OFDI和IFDI都带来一定的影响,本文通过实证研究发现1994年的汇率改革对IFDI的影响较大,对OFDI没有显著影响,改革前汇率和IFDI为正相关,改革后为负相关;2005年汇率改革对我国IFDI影响不显著,对OFDI影响显著,汇率和OFDI为负相关。VAR模型表明人民币升值有利于促进境外直接投资,不仅具有短期效应而且具有长期效应,此外,GDP对OFDI具有长期、持续且平稳的促进效应,因此,经济增长和经济实力的增强有力地促进了我国的对外直接投资。更多还原

【Abstract】 Continuing appreciations of RMB exchange rate on China’s OFDI and IFDI has brought a certain effect.Through empirical study,this paper finds that in 1994 the exchange rate reform had great influences on OFDI,no significant effe ct on the IFDI.Before the reform,the exchange rate and IFDI are positively rel ated,however it is negatively correlated after the reform.In 2005 year,the ex change rate reform had little influence on China’s IFDI,but significant effect to OFDI,the exchange rate and OFDI are inverse correlations.The VAR model indi cated that the RMB revaluation is advantageous in the promotion foreign direct i nvestment,not only has the short-term effects but also has the long-term effe ct s.In addition,the GDP has long-term,continuous and smooth promotion effect o n OFDI.Therefore,the economic growth and economic strength enhanced greatly pro mote China’s foreign direct investment.更多还原