Impacts Of Adjustments Of Rmb Exchange Rate On The Economy--Analysis Based On Sam

The adjustment of RMB exchange rate is an important question and it will effect the import, export and FDI etc and at last influence the fundamental economic situation such as GDP, investment and consumption. Assessment of the adjustments of RMB exchange rate will stabilize and improve the economy. Different with the popular method based on the local equilibrium theory, the paper will research the impacts of the adjustments of RMB exchange rate on Chinese Macro economy and Micro economy through developing Chinese Macro and micro social accounting matrix, based on the general equilibrium theory. The conclusions suggest that the appreciation of RMB exchange rate will promote the import, export, custom, FDI and GDP and has obscure influences on some macro variables such as government consumption, government investment, enterprises save, enterprises investment, household save, household investment and etc. At the same time, appreciation of RMB exchange rate will influence many industries such as agriculture, oil, textile, electronic and the extent of impacts will depend on the different characteristic of the industries. What's more, the appliance of SAM into the impacts of RMB exchange rate on the economy will expand the study scope and content of SAM and it's a very constructive experiment.