海上丝绸之路沿线各国间汇率关系与汇率变动对华商企业的影响及对策研究

Abstract:With the accelerating construction of “21st Century Maritime Silk Road” and the deepening internationalization of the RMB，the exchange rate link among countriesalong the Maritime Silk Road（henceforth MSR）has become increasingly close. This paper focuses on 32 MSR countries，which possess the legal currencies，on the one hand explores their exchange rate relationship by constructing a VAR，MGARCH-Dvech models，and on the other hand discusses the impact of RMB exchange rate changes on Overseas Chinese Enterprises（henceforth OCE）and hedge countermeasures. It is found that only five MSR countries have the linkage effect relationship with RMBexchange rate，and that the MSR countries are still short of coordination and cooperation. Under these circumstances，OCE should be familiar with methods to avoid exchange rate risk，and try to establish a management system to avoid the risks soon as possible.

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