| As early as in the 11th Five-Year Plan,the Chinese government took the reduction of energy consumption per unit of GDP(per ton of standard coal/GDP)as a restrictive indicator in economic development.In the 13th Five-Year Plan,the Chinese government put forward the "double-control" action on total energy consumption and intensity of energy consumption,and clearly put forward the total energy consumption of China by 2020.No more than 5 billion tons of standard coal will be allowed.Compared with 2015,the energy consumption per unit GDP will decrease by 15%.we can see that China’s goal of reducing energy consumption and improving energy efficiency is firm and urgent.Improving energy efficiency is the main way to solve the contradiction between energy supply and demand and achieve sustainable development.In order to put forward practical policy recommendations,existing scholars have studied the impact of industrial upgrading,energy structure,technological progress and other factors on energy efficiency.As a troika driving China’s economic development,opening-up has become increasingly important.The impact of opening to the outside world on China’s energy efficiency is also complex and diverse.under the background of opening to the outside world,whether the exchange rate which plays a decisive role in opening to the outside world has an impact on energy efficiency?What impact does it have?What is the effect?This is the main problem of this thesis.In theory,this thesis analyses the mechanism of the real exchange rate affecting energy consumption,we deduces that RMB appreciation will reduce energy consumption per unit GDP through those transmission mechanism.In the current situation,this thesis analyses the current situation between the actual effective exchange rate index and energy consumption in China.Through a simple linear relationship,it can be seen that the real effective exchange rate index(REER)is negatively correlated with energy use efficiency(EI).It also analyses China’s energy use from three aspects:national level,regional level and comparison among different countries.In the analysis of the current situation of energy efficiency at the regional level,we find that the eastern region>the central region>the western region.Therefore,in empirical research,China is divided into the east,the middle and the west.Based on the data of 28 provinces in China from 2005 to 2017,the empirical research is carried out at the national and regional levels respectively.Considering that different provinces have different openness to the outside world,different trading countries and different import and export volumes,the real effective exchange rate index of different provinces is different,so the real effective exchange rate index of different provinces can not be simply replaced by the real effective exchange rate index of the country.In order to make the empirical results more meaningful,Exchange rate index is calculated by bilateral trade model.From the national level and regional level,this thesis analyses the impact of real exchange rate on energy efficiency and its effect.At the national level and regional level,it puts forward policy recommendations that are conducive to improving energy efficiency.The results show that,at the national level,the real effective exchange rate has a significant negative correlation with energy consumption per unit GDP.the rise of the real exchange rate(RMB appreciation)will improve China’s energy efficiency.At the regional level,the empirical results show that there is a significant negative correlation between the real exchange rate and energy use efficiency in the eastern and central regions,while there is no significant relationship between the real effective exchange rate and energy use efficiency in the western region.The real exchange rate and energy efficiency are in the U-shape,indicating the non-linear relationship between them.The empirical results show that OFDI,FDI and labor productivity are the mediators of exchange rate on energy efficiency. |
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