Research On The Effects And Countermeasures Of European Debt Crisis On Export Of Hunan Province

By the end of2009the debt crisis erupted in Greece took the lead, the n spread toother European countries, in which the " PIIGS countries ", ie Greece, Ireland,Portugal, Spain, and Italy’s economy has been hit hardest. European debt crisis, theEuropean economy as a whole suffered heavy losses, the adverse effects of th e crisisextended to the global spillovers through trade, the global economic downturn causedby the situation worse. The EU is the main trading partner of Hunan Province, thedebt crisis will inevitably occur impact on foreign trade in Hunan Province. Thispaper describes the impact of the European debt crisis on the global economy unfolds,select the trade impact of the European debt crisis, exports as a research focus inHunan, the first theoretical analysis of the mechanism of the debt crisis affect ing thecountry ’s foreign trade partners. According to the classical model of trade, mainlyfrom the revenue crisis channel, price channels affect his country’s foreign trade intotal demand and relative prices; then based on a theoretical model of the actualsituation in Hunan province after the debt crisis of foreign trade movements wereanalyzed, analysis of the2005-2012study period, exports various aspects of Hunanchange. Trade data from the sample period of Hunan Province, the European debtcrisis, mainly in terms of the impact of trade, trade in goods and trade marketstructure affects the distribution of export trade in Hunan Province; then analyzedaccording to the classical theory of domestic and foreign trade may factors that causechanges in the export trade in Hunan Province. Theoretically, the main impact of thecrisis from foreign trade revenue streams, channels and prices stimulate increasedtrade protection and other aspects, there are also studies literature that imports willalso affect exports;On the basis of the foregoing analysis, combined with related factors previouslyidentified Hunan export trade theory and in accordance with the actual situation, theeasy availability of comprehensive data, monthly exports in Hunan ex plainedvariable, real national income and exports to the EU region is relatively HunanProvince monthly import price and the explanatory variables as well as set up a sheerimpact of the debt crisis, representatives of dummy variables, the use of VAR mo delsfor each variable monthly data2005-2012empirical analysis, empirical analysisresults show that the relative price of exports and Hunan provincial exports negatively correlated, and the EU countries as well as the actual income of Hunan Province,Hunan Province, imports showed a positive correlation between exports and theEuropean debt crisis for the export of Hunan significant negative impact exists. Forthis conclusion, the paper argues that the empirical results are consistent with theclassical trade theory, namely the income effect is a positive effect, the price effectsare negative effects, as well as empirical test of the European debt crisis spillovereffects through trade impact on export trade in Hunan Province.Before the final results of empirical research for this paper has been made inHunan export situation for how to promote the development of export trade in Hunangives some policy recommendations. First, from the perspective of the price effect ofthe proposal and the relevant government departments in Hunan export enterprises toactively respond to the impact of exchange rate fluctuations in trade brought a steadyand orderly government departments to promote the reform of the exchange ratesystem, and seek renminbi in international trade settlement upgrading. The exportenterprises and banks should follow the laws of the market exchange rate fluctuations,to take reasonable measures to eliminate the impact of exchange rates on trade.Followed by the departure from the actual needs of the business proposal to upgradeexport enterprises in Hunan Province to improve export quality, optimize thestructure of export commodities, the relevant departments should also do research inHunan trade transformation and upgrading plan.