Are Currency Appreciations Contractionary in China?

Jianhuai Shi

NBER Working Paper No. 12551
Issued in October 2006

---- Acknowledgments ----

This is a revision of a paper presented at the 17th Annual East Asian Seminar on Economics on "International Financial Issues around the Pacific-Rim", Hawaii, June 22-24, 2006, organized by the National Bureau of Economic Research. I thank Ashvin Ahuja, Dante Canlas, Michael Dooley, Peter Garber, Takatoshi Ito, and Andrew Rose for insightful comments, and Guoqing Song for help in obtaining data used in this research. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.

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