Research on the Influencing Factors of RMB Exchange Rate Risk based on the SEM Perspective
With the continuous advancement of China's high-level opening to the outside world,cross-border capital flows will become more frequent,which will significantly increase exchange rate fluctuations,which will have a profound impact on trade and investment.Discussing the influencing factors of RMB exchange rate risk has important theoretical value and practical significance for better managing exchange rate risk and building a higher level of open economic new system.Based on the SEM perspective,this paper conducts an in-depth analysis of the factors affecting the RMB exchange rate risk based on my country's macroeconomic characteristics and institutional background.First,use the Granger test method to select alternative indicators that affect the RMB exchange rate risk.Second,use ex-ploratory factor analysis to perform KMO and Bartlett tests on the influencing factors,and use the maximum variance method to perform orthogonal rotation on the factor loading matrix to construct a measure of exchange rate risk.Fac-tor analysis model.Thirdly,use the SEM model to draw a diagram of the influence path coefficient of RMB exchange rate risk,and then discuss the main factors affecting RMB exchange rate risk,and provide a scientific basis for the measurement of RMB exchange rate risk.
Exchange RateRisk MeasurementInfluencing FactorsStructural Equation Model
万方数据
维普
