中国持有巨额美国国债对我国经济的影响

发布时间：2018-02-04 02:54

本文关键词： 中国美国国债经济　出处：《贵州财经大学》2013年硕士论文　论文类型：学位论文

【摘要】：自2000年以来,中国持有的美国国债的数额占本国外汇储备的比重基本在30%以上,并在2002年以及2010年该比重已超过40%。在美国次贷危机引发全球经济危机后,中国于2008年8月首次超过日本的美国国债持有量,成为了美国最大的债权国。作为美国最大的债权国,近年来,中国频繁增持美国国债,引发美国政界以及学术界的关注,美国担忧中国过多持有美国国债以及频繁的操作会影响美国经济。而中国则担心过高的持有美国国债会对中国的经济带来负面影响。本文以中国持有美国国债的数额为主要研究对象,主要研究的问题有：中国持有美国国债的原因,中美政治经济关系、世界经济环境、为了维持人民币汇率的稳定、相对稳定的收益率以及中国国内生产总值；分析对中国经济的影响,通过实证研究法,得出中国增持美国国债会引发中国增发货币,中国国内物价水平的上涨,人民币对美汇率升值,中美贸易顺差的数额增大,外商投资数额增多,外债数额减少,弊大于利；最后,对中国在外汇投资上给出建议。国内对中国持有美国国债的研究主要集中在对中国的利与弊以及原因的分析,而对中国经济的影响方面的定性方面多一些。本文的创新之处在于定量分析中国持有的巨额美国国债对中国经济的影响,利用实证检验中国持有美国国债规模与几个经济变量之间的关系。
[Abstract]:Since 2000, China holdings of US Treasury bonds accounted for the amount of foreign exchange reserves in the proportion of more than 30%, and in 2002 and 2010 the proportion has more than 40%. triggered a global economic crisis in the United States after the subprime crisis in August 2008, Chinese surpassed Japan for the first time in the United States debt holdings, has become the largest creditor of the United States. As the largest creditor of the United States in recent years, China frequent holdings of U.S. Treasury bonds, causing American politics and academia, the United States worried China excessive holdings of US Treasuries and frequent operation will affect the U.S. economy. And Chinese is worried about the high holdings of U.S. Treasury bonds will have a negative impact on the economy Chinese.
In this paper, Chinese the amount of U.S. Treasury holdings as the main research object, the main research questions are: China reasons to hold U.S. debt, bilateral political and economic relations, the world economic environment, in order to maintain the stability of the RMB exchange rate, GDP yields relatively stable and China in China; analysis on the influence of China economy, through empirical research the method of Chinese holdings of U.S. Treasury bonds will lead to Chinese issuance of currency, Chinese domestic price level rising, the RMB exchange rate against the US dollar, Sino US trade surplus amount increases, the amount of foreign investment increased, reducing the amount of foreign debt, more harm than good; finally, the Chinese in foreign exchange investment advice.
Analysis of domestic research on Chinese holdings of U.S. Treasury bonds mainly focus on China advantages and disadvantages as well as the reason, and the influence on the Chinese economic aspects of the qualitative aspects more. The innovation of this paper is the quantitative analysis of huge amounts of U.S. Treasury bonds held on China Chinese economic impact, using the empirical relationship between the United States China holding bonds the scale and several economic variables.

【学位授予单位】：贵州财经大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F124;F832.6;F817.12

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