The influence of RMB exchange rate fluctuations on the export trade of wooden furniture: The empirical research based on the real effective exchange rate from 2005 to 2009

As an important economic lever, exchange rate is an important factor that influences on the development of national and regional foreign trade. Through observing the data of RMB real effective exchange rate and our country´s wooden furniture export from January, 2005 to December, 2009, this paper constructs the measure economics model, and carries out stationarity test, cointegration test and Granger causality test and makes use of the Ordinary Least Squares and Eviews5.0 to make regression analysis, which makes empirical analysis on the quantity change relationship between RMB exchange rate fluctuation and wooden furniture export. The conclusion is that there is long-term cointegration relationship between RMB real effective rate and wooden furniture export of our country, but RMB real effective exchange rate do not influence on the export of wooden furniture remarkably, which we can see that exchange rate fluctuation is not the only decisive factor that impacts on the export of wooden furniture of our country.