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How Responsive are Chinese Exports to Exchange Rate Changes? Evidence from Firm-level Data


  • Xufei Zhang
  • Xiaoxuan Liu


This article examines the impact of exchange rate changes on Chinese firms’ decisions on export market entry and export share. Using a large dataset for Chinese firms in 2000--2006, we find that changes in exchange rate levels play a significant role on both export extensive and intensive margins of Chinese firms. Compared to studies using macro data, our firm-level analysis allows us to control for firm and industry heterogeneity. Firm size and location matter. We do not find a difference between foreign and domestic firms in responding to exchange rate changes. Industry heterogeneity is also found to be important.

Suggested Citation

  • Xufei Zhang & Xiaoxuan Liu, 2012. "How Responsive are Chinese Exports to Exchange Rate Changes? Evidence from Firm-level Data," Journal of Development Studies, Taylor & Francis Journals, vol. 48(10), pages 1489-1504, October.
  • Handle: RePEc:taf:jdevst:v:48:y:2012:i:10:p:1489-1504
    DOI: 10.1080/00220388.2012.663903

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    Cited by:

    1. Marian Rizov & Xufei Zhang, 2014. "Regional disparities and productivity in China: Evidence from manufacturing micro data," Papers in Regional Science, Wiley Blackwell, vol. 93(2), pages 321-339, June.

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