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| Title: | 台灣與中國雙邊貿易之決定因素
Determinants of bilateral trade across the Taiwan straits |
| Authors: | 林冠丞
Lin, Kuan Cheng |
| Contributors: | 陳坤銘
饒秀華
Chen, Kun Ming
Rau, Hsiu Hua
林冠丞
Lin, Kuan Cheng |
| Keywords: | 兩岸貿易
外國直接投資
第三國匯率
進口國外投入匯率
共整合檢定
FDI
Johansen
co-integration |
| Date: | 2009 |
| Issue Date: | 2013-09-05 16:53:00 (UTC+8) |
| Abstract: | 本文之目的在於分析台灣與中國雙邊貿易之主要決定因素，並深入探討造成台灣對中國長期出現大量順差的主要原因。本文之實證模型與過去文獻主要差異在於分別就進出口供給與需求建立聯立方程式，推導成縮減式，分析進出口供需的相互影響。在台灣出口供給方面，本文考慮了國內投入、進口中間投入、台灣外人直接投資(FDI)及研發創新等因素。在台灣進口需求方面，除了考慮實質所得、雙邊匯率，本文也考慮了第三國匯率及雙向FDI之影響。
本文實證分析採用自1996年1月至2009年12月期間月資料。實證結果顯示雙邊實質所得、台灣對中國直接投資與台灣研發創新的確皆造成台灣對中國進出口之增加。然而，各國對台灣直接投資，卻造成台灣對中國進出口的減少。至於實質匯率的結果，在台灣對中國之出口方面，當新台幣相對於人民幣貶值，確實造成對中國出口增加。在中國市場，第三國價格相對中國價格上揚，造成台灣對中國出口有負向影響，此顯示台灣出口財與第三國出口財為互補關係。在台灣自中國之進口方面，當新台幣相對於人民幣貶值，的確造成自中國進口減少。在台灣市場，第三國價格相對於台灣價格上揚，造成台灣自中國進口有正向影響，表中國出口財與第三國出口財為替代關係。此外，本文發現，進口中間投入的相對價格上揚，將造成台灣自中國進口減少。
總而言之，本文研究結果顯示，除了實質所得以及雙邊匯率之外，第三國匯率、雙向FDI以及研發在兩岸進出口貿易上也扮演相當重要角色。此結果有助於瞭解台灣對中國持續順差之背後原因。
The objective of this study is to analyze the main determinants of bilateral trade across the Taiwan Straits with a view toward exploring the causes of the Taiwan’s persistent large trade surplus with China. Our empirical model differs from most previous studies in the following aspects: we construct a system of equations to examine the demand-supply relationship ; on the supply side, the effects of inward FDI, the cost of intermediate imports on Taiwan’s production and R&D innovation are considered ; on the demand side, in additional to bilateral real exchange rates and real income, this paper also considers the indirect effects of exchange rate of third countries and bilateral FDI.
The data covering January, 1996 to December, 2009 are used in our empirical analysis. The empirical evidence indicates that the bilateral real income, Taiwan’s real direct investment to China and R&D innovation have positive effects on Taiwan’s exports towards and imports from China, however, the inward FDI to Taiwan presents negative effects. As for real exchange rate, it appears that Taiwan’s export to China would increase along with the real depreciation of the NTD against the RMB. In addition, the rising relative price of the third country against the price of China would result in a negative effect of Taiwan’s export to China, representing that the goods of Taiwan and the third country are complements.
On the other hand, Taiwan’s import from China would decrease along with the real depreciation of the NTD against the RMB. In addition, the rising relative price of the third country against the price of Taiwan would bring about a positive effect of Taiwan’s import from China. This reveals that the goods of China and the third country are substitutes. Moreover, a negative effect on the import of Taiwan from China appears when the cost of intermediate imports of Taiwan increases.
In sum, this study illustrates that, in addition to real income and bilateral exchange rates, the exchange rates of third countries, FDI inflows and outflows and innovation have also played an important role in determining bilateral trade across the Taiwan Straits. It will help understand the driving forces behind Taiwan’s persistent trade surplus against China. |
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| Description: | 碩士
國立政治大學
國際經營與貿易研究所
97351023
98 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0973510231 |
| Data Type: | thesis |
| Appears in Collections: | [國際經營與貿易學系 ] 學位論文
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