Balassa-Samuelson

The Relationship between RMB Real Exchange Rates and China's Two-sector Productivity Difference& An Empirical Analysis Based on the Balassa-Samuelson Effect

人民币实际汇率与中国两部门生产率差异的关系基于巴拉萨萨缪尔森效应的实证分析

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According to the Balassa-Samuelson model, it researches whether the characteristics of economic growth model and industrial structure are the inner driving force of changes in RMB exchange rate.

依据巴拉萨&萨缪尔森模型，探讨我国经济增长模式和产业结构特征是否为当前人民币汇率变动的内在驱动力。

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Measurements of China's Relative Labor Productivity Growth ( 1978 2005) Rethinking the Relationship Between the Balassa-Samuelson Effect and Renminbi Real Exchange Rate

我国两部门劳动生产率增长及国际比较（19782005）巴拉萨萨缪尔森效应与人民币实际汇率关系的重新考察

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The research indicates that there is Balassa-Samuelson effect in RMB, and that productivity is the main decisive factor affecting the long-term trend of exchange rate in eastern area, while the exchange rate in mid-west depends on demand factor.

研究表明人民币中确实存在Balassa-Samuelson效应，东部地区汇率的长期趋势的主要决定因素是生产率，而中西部的汇率主要决定于需求因素。

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Economists know it as the Balassa-Samuelson effect: persistent inflation is the flip side of a secular manufacturing boom.

经济学家们称之为巴拉萨-萨缪尔森效应（Balassa-Samuelson Effect）：居高不下的通胀是长期制造业繁荣的另一面。

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Since 1978, with the global economy increasing fusion, our country has experienced long-term fast economy growth, and this situation is similar with the hypothesis of the Balassa-Samuelson Effect.

自1978年以来，随着全球经济的不断融合，我国经济得到了长期高速的增长，这与巴拉萨-萨缪尔森效应的前提假设基本相似。

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Real Exchange Rate and Economic Growth: A Test of the Balassa-Samuelson Hypothesis Using the Bounds Testing Approach

实际汇率与经济增长：运用边限检验方法检验巴拉萨-萨缪尔森假说

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Because America internal real exchange rate appreciate higher than China in the past twenty years, the depreciation trend of China real exchange rate can be explained based on the Balassa-Samuelson theorem.

由于美国的内部实际汇率升值幅度一直高于中国，人民币实际汇率的贬值趋势在巴拉萨和萨缪尔森的分析框架下也是可以解释的。

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However, at any given starting point, most countries will not lie on the Balassa-Samuelson equilibrium line, the convergence path that countries should follow if their price level/ exchange rate rises with income.

然而，无论以哪一点作为起点，大多数国家都不在B-S均衡线上&如果一国价格水平/汇率随收入上升，它应该沿这条趋同路径运动。

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Balassa-Samuelson Effect: Review and Expansion

巴拉萨&萨缪尔森效应：评述及拓展

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But you would expect average prices to be cheaper in poor countries than in rich ones because labour costs are lower. This is the basis of the so-called "Balassa-Samuelson effect."

但你可能认为贫穷国家的平均价格比富有国家的低，是因为劳动力更廉价，其实这是“巴拉萨—萨缪尔森效应”带来的偏见。

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Firstly it shows the development from Purchasing Power Parity Theory to Balassa-Samuelson Effect.

本章梳理了从购买力平价理论到巴拉萨-萨缪尔森效应的发展。

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Then it discusses the influence of labor productivity to real exchange rate, on the base of Balassa-Samuelson effect model.

在巴拉萨-萨缪尔森效应模型的基础上，讨论了劳动生产率对实际汇率的作用。

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In the long run, real exchange rates are mainly determined by the supply-side of an economy ( changes in the productivity), which is embodied in the model of Balassa-Samuelson effect.

长期实际汇率主要取决于经济的供给面，即生产率的变化，这一思想体现在巴拉萨&萨缪尔森效应的模型中。

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The Balassa-Samuelson hypothesis is undoubtedly the basic theory about the effect of rapid economic growth of countries on the real exchange rate trends in long-term.

而巴拉萨-萨缪尔森效应假说无疑是研究处于高速经济增长的国家实际汇率长期变动趋势的重要基础性理论之一。

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The result indicates that productivity change play an important role in Renminbi real exchange rate change irrespective of short-term or long-term and that real exchange direction is reversal of Balassa-Samuelson Effect anticipation.

结果表明，无论在短期还是长期，生产率的变动对人民币实际汇率的变动都起着最重要的作用，但是对实际汇率的变动方向与巴-萨效应预测的相反。

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Balassa-Samuelson effect contributes a lot to the inflation momentum in the relatively high inflation countries.

Balassa&Samuelson效应在部分高通胀国家的通胀形成中起到了重要作用。

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But you would expect average prices to be cheaper in poor countries than in rich ones because labour costs are lower. This is the basis of the so-called "Balassa-Samuelson effect".

但你可能认为贫穷国家的平均价格比富有国家的低，是因为劳动力更廉价，其实这是“巴拉萨萨缪尔森效应”带来的偏见。

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The institutional weakness of ERM ⅱ may not only increase the cost of new members when dealing with Balassa-Samuelson effect, but also weaken their capability to encounter speculative attacks.

ERM-Ⅱ的一些制度性不足，可能使得新成员国在处理巴拉萨-萨缪尔森效应时要付出更多的成本，在应对投机冲击时力不从心。

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It also makes further examination on Balassa-Samuelson effect in use of provincial panel data.

进一步运用了省际面板数据对巴拉萨-萨缪尔森效应检验。

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As a result, the real exchange rate appreciation plays a complementary role in economic restructuring and accelerate the distribution of income, thus Balassa-Samuelson effect in China has a more rational interpretation.

由此，实际汇率的升值和国内经济转型起到相辅相成的作用，并在收入分配加速的影响下巴拉萨萨缪尔森效应对人民币实际汇率的解释力度必将提高。

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The Analysis of Balassa-Samuelson Effect in Exchange Rate of RMB

人民币汇率的Balassa-Samuelson效应验证及分析

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