Based on the classification of HS (Harmonized Commodity Description and\nCoding System), and according to the method of Lall (2000) [1], Sino-US\ntrade products are divided into five categories, namely primary products, resource-\nintensive products, low technology products, medium technical products\nand high-tech products. Based on the data from the first quarter of 2005\nto the fourth quarter of 2017, the influence of bilateral real exchange rate on\nthe structure of Sino-US export trade was studied by using VAR model in this\npaper. The empirical results show that there is a strong granger causality between\nSino-US bilateral real exchange rate and Sino-US export trade product\nstructure, the former being the latter�s granger reason; in the short term, the\nappreciation (devaluation) of the real exchange rate between China and the\nUS is conducive (inconducive) to an improvement in the trade structure,\nwhich has long been detrimental (beneficial) to the improvement of the trade\nstructure. In general, the appreciation of RMB is unfavorable to the improvement\nof the technical structure of Sino-US export trade. Variance decomposition\nshows that Sino-US bilateral real exchange rate has a great contribution\nto the technical structure of Sino-US export trade.
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