全球价值链（GVC）研究的发展为理解全球贸易提供了全新的思路和角度，这一研究也使得传统国际金融领域的一些研究面临挑战，本研究项目即是基于这一交叉学科视角，将全球价值链同有效汇率的测算结合起来，展开基于增加值的人民币有效汇率研究：（1）建立理论模型，构造基于增加值的有效汇率测算方法，这一方法能够衡量各国在GVC各个环节的竞争水平；（2）建立理论模型，构造基于世界投入产出表的增加值核算方法，在此基础上构建40个国家1995年-2011年35个行业的增加值数据库；（3）基于理论模型和增加值数据，测算加总的和分行业的人民币增加值有效汇率；（4）基于加总人民币增加值有效汇率，比较其与传统有效汇率在反映对外竞争力水平上的差异，基于分行业人民币增加值有效汇率，测算中国可贸易品与不可贸易品部门对外竞争力的变化情况；（5）全面分析中国对外竞争力，包括进口竞争力、直接出口竞争力和第三方市场出口竞争力。

Global Value Chain (GVC) provides new perspectives for understanding international trade. It also challenges some parts of traditional international finance research. This research project is based on this interdisciplinary perspective, combining GVC and effective exchange rates (EER) together and applying to the research of RMB EER: (1) Constructing theoretical model to develop the estimation method of Value-Added (VA) EER to measure the competitiveness of countries along value chain; (2) Constructing theoretical model to develop the estimation method of value added based on World Input-Output Table and to establish a database including 40 countries/regions across 1995-2011 with 35 industries; (3) Based on theoretical model and value-added database, constructing aggregated and industry-specified RMB VAEER; (4) Comparing the competitiveness difference with traditional EER using aggregated RMB VAEER and calculating external competitiveness of tradable and non-tradable sectors using industry-specified RMB VAEER; (5) providing a well-around analysis for external competitiveness of China, including import competitiveness, direct export competitiveness and third-market export competitiveness.