摘要
本文认为一国外汇储备的规模应以足够防止汇率冲击为适度标准。在这一前提下 ,本文以西方近年来主流国际金融理论———国际收支调节的货币理论为基础 ,对影响中国经济主体外汇需求的诸因素进行了分析 ;并通过与亚洲金融危机国家和地区的国际比较 ,提出了衡量我国外汇储备适度性的指标和安全界限值 ,发现与绝大多数国内学者完全不同的结论 :我国外汇储备严重不足 ,且在可以预见的将来也很难提高到适度的水平。从这一结论出发 ,本文提出了我国为实现人民币自由兑换可以采取的若干政策选择。
This article argues that the adequate criterion for foreign exchange reserve is to see whether or not it's sufficient to cope with the foreign exchange shock Based on the monetary theory of balance of payments, this article has analyzed various factors that have impact on foreign exchange demand in the Chinese economy Through the comparison of China with those Asian countries and areas that had experienced financial crises in 1997, it gives out index and margin of safety in assessing the adequacy of foreign exchange reserve Conclusion has been found out that our foreign exchange reserve is far below sufficiency, and can hardly reach the adequate level in the foreseeing future Starting from this point, several policy suggestions have been made here in terms of the convertibility of RMB
出处
《财经研究》
CSSCI
北大核心
2000年第11期59-64,共6页
Journal of Finance and Economics
关键词
人民币
自由兑换
外汇储备
政策
foreign exchange reserve
financial crises
foreign exchange demand
