关于我国东盟ASEAN 财务双边贸易有关 的外文文献翻译成品:中国—东盟金融合作对双边贸易发展的影响研究(中英文双语对照).docx
- 文档编号:8907245
- 上传时间:2023-05-16
- 格式:DOCX
- 页数:13
- 大小:74.92KB
关于我国东盟ASEAN 财务双边贸易有关 的外文文献翻译成品:中国—东盟金融合作对双边贸易发展的影响研究(中英文双语对照).docx
《关于我国东盟ASEAN 财务双边贸易有关 的外文文献翻译成品:中国—东盟金融合作对双边贸易发展的影响研究(中英文双语对照).docx》由会员分享,可在线阅读,更多相关《关于我国东盟ASEAN 财务双边贸易有关 的外文文献翻译成品:中国—东盟金融合作对双边贸易发展的影响研究(中英文双语对照).docx(13页珍藏版)》请在冰点文库上搜索。
此文档是毕业设计外文翻译成品(含英文原文+中文翻译),无需调整复杂的格式!
下载之后直接可用,方便快捷!
本文价格不贵,也就几十块钱!
一辈子也就一次的事!
外文标题:
TheResearchoftheImpactfromChina-ASEANFinancialCooperationontheDevelopmentofBilateralTrade
外文作者:
XuanqiOu
文献出处:
2018InternationalConferenceonEconomyandTrade(如觉得年份太老,可改为近2年,毕竟很多毕业生都这样做)
英文2628单词,16991字符(字符就是印刷符),中文4178汉字。
(如果字数多了,可自行删减,大多数学校都是要求选取外文的一部分内容进行翻译的。
)
TheResearchoftheImpactfromChina-ASEANFinancial
CooperationontheDevelopmentofBilateralTrade
Abstract.InthisarticlewefirstintroducethedevelopmentoffinancialcooperationbetweenChinaandASEAN.ThenweapplythemethodofpaneldataanalysisbyutilizingSTATAtofindoutwhichfinancialfactorsweselectsignificantlyinfluencethetradevolumebetweenChinaandASEANandtheconclusionsareFDIaswellasinternationalreserve.Aftertheempiricalanalysiswefurtherexplaintheeconomicmeaningsofthemodelanddiscussthepoliciesthatmaypromotethebilateraltradevolumeinthefuturebycontrollingthosesignificantfinancialfactorseffectively.
Keywords:
ChiangMaiInitiative,InternationalReserve,FDI,bilateraltrade
1Introduction
Duringthetwodecadessince1990,withthefinancialcooperationbetweenChinaandASEANdeepened,thebilateraltradevolumeincreasesrapidlyexcepttheyear1998and2009whentheglobalfinancialcrisisaffectedinternationaltradeseverely.However,evenin2009whentheworld'seconomysufferedalotfromthesubprimecrisis,bilateraltradevolume,thoughdecreasedto213billion$ascomparedwith2008,stillaccountedfor9.7%onthetotalexternaltradevolumeofChinawhileASEANkeptthefourthtradepartner,thefourthexportmarketaswellasthethirdimportmarketofChina.
1.1CMI
InMay2000,ASEANandChina,JapanaswellasKoreaformallysignedChiangMaiInitiativeintheannualmeetingofADB,andreachedbroadagreementonconsolidatingCMIinthefollowingfinanceministers’meeting.CMIhasbecomeafoundationstoneinthefinancialcooperationbetweenChinaandASEAN.Fromtheaspectofbuildingupcurrencyswapnettostabilizeregionalfinancemarket,CMIadvocatesenlargingthescaleofcurrencyswapamongASEANandcallsonthemembercountriestoestablishbilateralcurrencyswapagreementinordertoprovidetherelievingforeignexchangefundforeachotherincaseofemergency.CMIputsforwardtheideaofregionalfinancialcooperationinformofcurrencycooperation.Lateron,governmentsamongeasternAsiancontinuestryrelevantaffairsbasedonCMIsoastomakefoundationalarrangementforfurtherfinancialcooperation.CMIincludestwoimportantcontents:
First,perfectASA(ASEANSwapArrangement)andmakeitcoverallthemembercountriesofASEAN.ThetotalmoneyofASAwasaddedfrom0.2billion$to1billion$(in2005thisnumberincreasedto2billion$).Second,buildupBSA(NetworkofBilateralSwapsandRepurchaseAgreements)among"10+3"countriesandpromisetoprovideappropriateamountofmoneytomembercountrieswhenitisnecessarytohelpthemsolvetheproblemofshortterminternationalpaymentsimbalanceaswellascapitalflowability.Sofar,allofthemembercountrieshaveparticipatedtheASEANmultilateralswaparrangementandChinahassetupswapagreementswithsomeoftheASEANmembersrespectively.BytheendofNovember2008,thetotalscaleofCMIhasreached85.5billion$(includingthe2billion$ofASA)andChinahassignedseveralbilateralswapagreementswithThai-land,Malaysia,Philippines,Indonesiarespectively,totaled9.5billion$.
1.2E.A.ForexReservePool
InMarch2010,ChiangMaimultilateralagreementtookeffectformally.Accordingtothisagreement,theestablishmentofamultilateralforeignexchange(Forex)reservenotonlyhelpstointegrateEastAsianfinancialresourcesandimprovetheregionalcommonresponsetofinancialrisks,butisalsoimportantinmaintainingthesteadygrowthofregionaleconomyandspurringthemultilateralprocessofEastAsiancooperation.The10membercountriesofASEANplusChina,JapanandtheRepublicofKorea(ROK)altogethercollected120billion$toestablishForexreserve,with38.4billion$fromChina,thesamecontributionasJapan,whichaccountsfor32%,19.2billion$fromROK,accountingfor16%and24billion$fromASEAN,accountingfor20%.Alongwiththeinstitutionof120billiondollarsregionalForexreserve,theEastAsianfinancialcooperationwasescalatedfromabilateraltomultilateralleap.
2TheEmpiricalAnalysis
InthissectionweutilizethemethodofpaneldataanalysisbySTATAtoestablisheconometricmodelwiththerelevantfinancialindexesinordertofindouttheindexesthatimpactbilateraltradevolumesignificantly,thenwetheoreticallyexplainthetransmissionmechanismoftheindexes.ThedataareselectedmainlyfromtheASEANstatisticalYearBook2008andIMF'spublicationInternationalFinancialStatisticsaswellastheWorldBank'spublicationWorldDevelopmentIndicators2009.Onthebasisofproofreadingweprocessedthedatacollectionintopaneldatawiththetimespanfrom2000to2008.The11countrieshereincludeChinaand10ASEANmembercountries.
2.1TheIntroductionofIndicatorSystem
i.In_gdppc
GDPpercapitaisgrossdomesticproductdividedbymidyearpopulation.GDPisthesumofgrossvalueaddedbyallresidentproducersintheeconomyplusanyproducttaxesandminusanysubsidiesnotincludedinthevalueoftheproducts.Itiscalculatedwithoutmakingdeductionsfordepreciationoffabricatedassetsorfordepletionanddegradationofnaturalresources.DataareincurrentU.S.dollars.InthisarticlewetakelogarithmofGDPpercapita,notingforIn_gdppc.
ii.Depositrate
Depositinterestrateistheratepaidbycommercialorsimilarbanksfordemand,time,orsavingsdeposits.
iii.Lendingrate
Lendingrateistherateatwhichfinancialinstituteslendmoney.Itconstitutesthebasefromwhichbanksthenlendmoneytothefinalcustomer.
iv.M2growthrate
M2growthrateistheaverageannualgrowthrateinmoneyandquasimoney.Moneyandquasimoneycomprisethesumofcurrencyoutsidebanks,demanddepositsotherthanthoseofthecentralgovernment,andthetime,savings,andforeigncurrencydepositsofresidentsectorsotherthanthecentralgovernment.Thechangeinthemoneysupplyismeasuredasthedifferenceinend-of-yeartotalsrelativetothelevelofM2intheprecedingyear.
v.Exchangerate
Exchangerateisthepriceofnativecurrencyinrelationtoanother's(US$here).Itisthenumberofunitsofonecurrencythatbuysoneunitofanothercurrency.Inthisarticletheexchangerateistheaveragenumberofayear.Thedeterminationofexchangeratesisacomplexprocessthathaseconomicimpactonimportsandexports.
vi.FDIForeigndirectinvestment
Foreigndirectinvestmentisthenetinflowofinvestmenttoacquirealastingmanagementinterestinanenterpriseoperatinginaneconomyotherthanthatoftheinvestors.Itisthesumofequitycapital,reinvestmentofearnings,otherlong-termcapital,andshort-termcapitalasshowninthebalanceofpayments.
vii.Internationalreserve
Theoretically,internationalreservecompriseholdingsofmonetarygold,specialdrawingrights,reservesofIMFmembersheldbytheIMF,andholdingsofforeignexchangeunderthecontrolofmonetaryauthorities.However,inordertoanalogizeE.A.Forexreserve,weexcludemonetarygoldsotheinternationalreserveherecouldbegenerallyregardedasforeignexchangereserve.
viii.Tradevolume
Tradevolumeisthetotalvolumeoftheimportandexportofacountryinayear.
2.2PanelDataAnalysis
Inthisarticlewechoosethetradevolumetobetheexplainedvariablewhiletheexplanatoryvariablesarein_gdp,depositrate,lendingrate,m2growthrate,FDI,exchangerateaswellasinternationalreserve.NowweutilizeSTATAtosetuprandomeffectregressionmodelandfixedeffectregressionmodel.
Standarderrorsinparentheses*p<0.10,**p<0.05,***p<0.01
Rank
(1)liststhecoefficientsoftherandomeffectregressionmodelwhilerank
(2)liststhecoefficientsofthefixedeffectregressionmodel.WecanconcludeprimarilyfromthelistthatFDIandinternationalreservehavestrongcorrelationwithtradevolumewhereasthecorrelationbetweentradevolumeanddepositrateiscomparativelyweek.However,whichmodelismoresuitableastothepaneldataofthisarticle?
Wecanconducthausmaninspection:
(b)Fixed
(B)Random
(b-B)
Difference
sqrt(diag(V_b-V_B))S.E.
ln_gdppc
0.423
0.298
0.125
69.72
depositrate
-0.419
-0.285
-0.134
9.078
lendingrate
0.337
-0.311
0.648
22.01
m2growthrate
0.473
0.438
0.035
0.843
fdi
0.085
0.088
-0.003
1.067
exchangerate
-4.629
2.835
-7.464
4.612
internationalreserve
0.078
0.089
-0.011
0.006
Fromtheresultofhausmaninspection,wecanseethatnullhypothesiscannotbe
rejected.Becausethenullhypothesisofhausmaninspectionisthatthefixedeffectdoesnotexist,therandomeffectregressionmodelhereismoresuitabletothisarticle.
2.3AppreciationofResearchResults
i.GDPpercapitarepresentsthelevelofeconomicdevelopmentandlevelofincomepercapitainacountry.Sincethecoefficientispositive,theresearchshowsapositivecorrelationbetweenacountry'sexportcapabilitiesaswellaspurchasingpowertradeandvolume.
ii.Thecoefficientofinterestrateisnegative.Becauseraisinginterestratessuppressesthegrowthofcreditandprivateinvestment.Financingcostrisingforcestheexport-orientedcorporationsgiveuplowerprofitrateprojectsandreduceamountofusingcredit.Meanwhile,thepricesofexportproductswillincrease,whichcauseexportinglosingpricecompetitiveness.Therefo
- 配套讲稿:
如PPT文件的首页显示word图标,表示该PPT已包含配套word讲稿。双击word图标可打开word文档。
- 特殊限制:
部分文档作品中含有的国旗、国徽等图片,仅作为作品整体效果示例展示,禁止商用。设计者仅对作品中独创性部分享有著作权。
- 关 键 词:
- 关于我国东盟ASEAN 财务双边贸易有关 的外文文献翻译成品:中国东盟金融合作对双边贸易发展的影响研究中英文双语对照 关于 我国 东盟 ASEAN 财务 双边贸易 有关 外文 文献 翻译 成品 中国
链接地址:https://www.bingdoc.com/p-8907245.html