Theories of target zones and realignment of RMB (currency of China) exchange rate

Ling Jiang, Lu Han and Daivd Jiang

Applied Economics Letters, 2004, vol. 11, issue 9, 561-568

Abstract: On the basis of introducing the theory of Target Zones and Exchange Rate, this paper tests for the significant to reform Chinese currency Renmingbi (RMB) exchange regime, and the possibility to build a target zone. It is pointed out that, under the tendency of economic globalization and entered WTO, it is necessary and urgent for China to realign and innovate its present exchange arrangement; target zones and its exchange rate mechanism is feasible for the reality of contemporary global economy and the situation of China. The authors analysis how to determine equilibrium of exchange rate and border of RMB target zones, and what kind of actions the Chinese government should do in such procedure.

Date: 2004
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DOI: 10.1080/1350485042000228808

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