LM test proves the random effect model is superior to the fixed effect model.
LM检验证明随机效应模型优于固定效应模型。
Although the RMB yuan was fixed against the us dollar for several years, it has been fluctuating against the Korean won, which provides us with a natural experiment to test the exchange rate effect.
虽然人民币汇率制度在很长一段时间都是紧盯美元的，但它对韩元一直是波动的，这为我们提供了一个自然实验去测试汇率制度的影响。
Although the RMB yuan was fixed against the us dollar for several years, it has been fluctuating against the Korean won, which provides us with a natural experiment to test the exchange rate effect.
虽然人民币汇率制度在很长一段时间都是紧盯美元的，但它对韩元一直是波动的，这为我们提供了一个自然实验去测试汇率制度的影响。
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