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RMB Exchange Rate, Overseas Education, and High-Quality Economic Growth

Contemporary social sciences (Chengdu), 2023-11, Vol.8 (6), p.97-118

Copyright Sichuan Academy of Social Sciences Nov 2023 ;ISSN: 2096-0212 ;DOI: 10.19873/j.cnki.2096-0212.2023.06.006

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  • Title:
    RMB Exchange Rate, Overseas Education, and High-Quality Economic Growth
  • Author: Sun, Yuchen ; Sun, Xianchao
  • Subjects: Appreciation ; Asian students ; Economic growth ; Education ; Efficiency ; Exports ; Floating exchange rates ; Foreign exchange rates ; Foreign investment ; Foreign students ; GDP ; Gross Domestic Product ; Growth models ; Human capital ; Industrial structure ; Innovations ; International trade ; Labor market ; Political parties ; Productivity ; Profit margins ; Purchasing power ; Students ; Study abroad ; Technological change ; Workforce
  • Is Part Of: Contemporary social sciences (Chengdu), 2023-11, Vol.8 (6), p.97-118
  • Description: China is transitioning its industrial structure from labor-and resource-intensive industries that previously contributed significantly to the country's GDP growth to technology-intensive industries emphasizing a highly-skilled workforce and sustainability to achieve high-quality economic growth. This paper examines the impact of the RMB exchange rate on high-quality economic growth through theoretical modeling and empirical analysis and discusses the variable of overseas education to explore the mechanism of how the RMB exchange rate and overseas education jointly impact high-quality economic growth. The research sample includes the National Bureau of Statistics data on education from 1995 to 2015, the Bank for International Settlements (BIS) data on the RMB exchange rate, and the added value of China's high-quality economic growth estimated based on the national economy data. An empirical analysis of theoretical expectations was conducted, finding that RMB appreciation could make a positive contribution to China's high-quality economic growth; RMB exchange rate fluctuations would impact the relative cost of overseas education and overseas returnees could have a positive impact on domestic resource utilization efficiency and domestic capacity to make sci-tech innovations, thereby injecting vitality to high-quality economic growth. This study focuses on both the RMB exchange rate and the population studying abroad, providing additional observation dimensions to existing research.
  • Publisher: Chengdu: Sichuan Academy of Social Sciences
  • Language: English
  • Identifier: ISSN: 2096-0212
    DOI: 10.19873/j.cnki.2096-0212.2023.06.006
  • Source: DOAJ Directory of Open Access Journals
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