01979cas a2200253 a 4500 AALejournalIMF003832 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451862218 1018-5941 BD-DhAAL BD-DhAAL Li, Xiangming. Estimating China's "Equilibrium" Real Exchange Rate / Xiangming Li, Steven Dunaway. Washington, D.C. : International Monetary Fund, 2005. 1 online resource (12 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The number of studies attempting to estimate the "equilibrium" real value of China's currency has proliferated in recent years as the country's presence in world markets has grown. These studies have sought to establish whether or not a significant part of China's competitive prowess can be attributed to the foreign exchange value of the renminbi. Unfortunately, no consensus has emerged because the studies yield a very wide range of estimates. The paper looks at a sample of these studies, with estimates of undervaluation ranging from zero to nearly 50 percent. It attributes the wide variation in these estimates to the influence of such factors as the different methodologies used, explanatory variables included, subjective judgments of the various researchers in deriving their results, and instability in underlying economic relationships, especially in a rapidly developing economy like China. Mode of access: Internet Dunaway, Steven. IMF Working Papers; Working Paper ; No. 2005/202 Full text available on IMF http://elibrary.imf.org/view/journals/001/2005/202/001.2005.issue-202-en.xml IMF e-Library