The Impact of Financial Crisis on Chinese Exports--Analysis Based on the Method of Impulse-Response Function

This article firstly builds a synthetical index reflecting the degree of financial crisis, then studies the dynamic impacting characteristics between the degree of financial crisis and total export and exports of ten sub-industries with the method of impulse response function and variance decomposition based on Var model. The result is that: on one side, the impact of financial crisis on the total export is an unstable course and the financial crisis is relatively unimportant in the forecasted variance of total export; on the other side, the impact of financial crisis on sub-industries is structural hetorogeous and the financial crisis is very important in the forecasted variance of the exports of sub-industries.