Real exchange rate and productivity in China

HUA Ping () and Sylviane Guillaumont Jeanneney ()
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HUA Ping: Centre National de la Recherche Scientifique

No 200328, Working Papers from CERDI

Abstract: This article investigates the impact that the real exchange rate appreciation in China has exerted on productivity growth since 1994. We remind the arguments explaining a positive or a negative impact of a real appreciation on efficiency and on technical progress. DEA Malmquist indices of productivity growth and of its two components are calculated for twenty-nine Chinese provinces. The econometric estimation shows that the appreciation of the real exchange rate had an unfavourable effect on technical progress but a favourable effect on efficiency growth, and these two effects offset each other partially to give a lesser negative effect on productivity growth.

Keywords: China; DEA Malmquist index; productivity; real exchange rate. (search for similar items in EconPapers)
Date: 2003

Published in , 2003, pages

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Persistent link: http://EconPapers.repec.org/RePEc:cdi:wpaper:452

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