The External Impact of China'S Exchange Rate Policy : Evidence From Firm Level Data

Evidence From Firm Level Data

The External Impact of China'S Exchange Rate Policy : Evidence From Firm Level Data
We examine the impact of renminbi revaluation on foreign firm valuations, considering two surprise announcements of changes in China's exchange rate policy in 2005 and 2010 and employing data on some 6,000 firms in 44 economies. Stock returns rise with renminbi revaluation expectations. This reaction appears to reflect a combination of... READ MORE...

Publication date: July 2011
ISBN 9781455290680
$18.00

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