Study On Economic Growth And RMB Real Exchange Rate

During the resent twenty years, Chinese economy has gained the rapid growth. As a developing country, the rapid economic growth must impact the change of economic system, such as industry structure, financial system and allocation of labor. The change of real exchange rate is the most representative of the adjustable state under the background of high speed economic growth.In order to research the relations between the Chinese economic growth and the adjustable real exchange, this article based on empirical research method and used many kind of economic metrology tools, firstly, it calculated the real exchange level of RMB based on GDP deflator, CPI, PPI/WPI from 1989 to 2005. And then deeply analyzing the structure of RMB real exchange rate, At last, from the analyzing frame of " Balassa-Samuelson Effects " we research the relationship of RMB real exchange rate and relative labor growth rate of trade department and salary level of non-trade department. Based on the metrology analyze of this topic, we could understand the applicability of "Balassa-Samuelson Effects" on the economy in China.Through the research ,we have got some conclusion : the depreciation trend RMB real exchange rate can be explained ,the first reason is there exist many obstruction to labor force floating at different department ; the second is that the surplus labor force has restrained the wage from rising.