我国引进外资理论与政策分析:一个主权货币理论的视角

发布时间：2018-01-20 08:49

本文关键词： 外资主权货币理论外汇储备地方政府　出处：《思想战线》2011年06期 　论文类型：期刊论文

【摘要】：金融危机以来,中国引入外资额波动较大,传统观点认为外资额减少可能会导致国内投资资金短缺,影响"调结构、保增长"战略的实施。而从本质上看,外资进入中国后,资金的运用引致外汇储备增加及与引入外资额数量相匹配的人民币被动发行。其中外汇储备的超额增长导致外汇资产风险剧增,同时影响汇率制度的改革优化,人民币的被动发行无疑妨碍货币信贷政策的运用和执行。地方政府积极引入外资本质是"倒逼"中央加大对其金融支持力度,弱势地区政府期望通过引入外资化解资金瓶颈实现全面增长的条件并不具备,因此,中央政府应进一步加大对弱势地区的转移支付,降低其盲目引入外资的风险,实现可持续增长。
[Abstract]:Since the financial crisis, the amount of foreign capital introduced into China has fluctuated greatly. The traditional view is that the decrease of foreign capital may lead to the shortage of domestic investment funds, which will affect the implementation of the strategy of "adjusting the structure and maintaining growth". After the entry of foreign capital into China, the use of funds leads to the increase of foreign exchange reserves and the passive issuance of renminbi corresponding to the amount of foreign capital, in which the excess growth of foreign exchange reserves leads to a sharp increase in the risk of foreign exchange assets. At the same time, affecting the reform and optimization of the exchange rate system, the passive issuance of RMB undoubtedly hinders the use and implementation of monetary and credit policies. In essence, local governments actively introduce foreign capital to "force" the central government to increase its financial support. The weak region government expects to solve the fund bottleneck through the introduction of foreign capital to achieve overall growth conditions do not have, therefore, the central government should further increase the transfer payment to vulnerable areas. Reduce its risk of blind introduction of foreign investment to achieve sustainable growth.
【作者单位】：陕西师范大学国际商学院;
【基金】：教育部人文社会科学青年项目“最后雇主与劳动力缓冲储备:明斯基就业理论及其在中国的实践”阶段性成果(09YJC790176);教育部留学回国人员第42批启动基金项目“后凯恩斯视角下的财政与货币政策及其对中国启示”阶段性成果陕西师范大学“211工程”重点项目“社会主义发展经济学”阶段性成果
【分类号】：F832.6
【正文快照】： 金融危机爆发以来,诸多国家经济出现不同程度的衰退,中国依靠外需增长和引入外资拉动经济增长空间也受限。传统观点认为,中国引入外资在弥补资金缺口的同时,还能实现“以市场换技术”弥补“技术缺口”从而带动产业结构升级及技术进步。在现实中,中国引入的外资存在诸如技术水

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