Research on the Relationship between China's Foreign Trade and RMB Internationalization Based on VAR Model
At present,China's economy is transforming into high-quality development,and the comprehensive national strength is constantly improving.In the face of the economic downturn,China has withstood the pressure to become the only major economy in the world with positive GDP growth,setting an example for the economic recovery of the world.China has also been deepening the economic and trade exchanges with other countries,and the process of RMB internationalization is also being accelerated.This paper mainly selects the quarterly data of 2016-2023,establishes VAR model on the basis of ADF test and Granger causality test,and carries out empirical research on the relationship between China's foreign trade and RMB internationalization through pulse response function and variance decomposition method.It is concluded that foreign trade plays a positive role in promoting the internationalization of RMB,and compared with export trade,import trade contributes more to the RMB global index.
万方数据
维普
