印度汇率制度的改革及对中国的启示

发布时间：2018-06-13 10:15

本文选题：印度汇率制度 + 管理浮动　；参考：《国际金融研究》2011年05期

【摘要】：本文通过对印度汇率制度改革的相关内容进行研究,分析了汇率制度改革对于印度经济发展的影响。文章研究发现印度汇率制度转变为有管理的浮动汇率制后,印度卢比对主要货币汇率弹性增加的同时,实际有效汇率维持了稳定,国际收支有所改善并抵御了金融危机的冲击,这主要得益于汇改后印度央行加强了对有效汇率的干预。但另一方面,大量的干预也导致央行外汇资产急剧增加,包括短期资本流入增加,净国内资产大幅度下降,影响了干预的持续性和国内金融体系安全。在此基础上,通过中印比较,文章针对中国的汇率改革提出了一些建议。
[Abstract]:This paper analyzes the impact of exchange rate system reform on India's economic development through the study of the relevant contents of India's exchange rate system reform. After the Indian exchange rate system changed into a managed floating exchange rate system, the exchange rate elasticity of the Indian rupee to the main currencies increased, while the real effective exchange rate remained stable, the balance of payments improved and resisted the impact of the financial crisis. This was largely due to the central bank's increased intervention in the effective exchange rate after currency reform. But on the other hand, massive intervention has also led to a sharp increase in central bank foreign exchange assets, including an increase in short-term capital inflows and a sharp decline in net domestic assets, affecting the sustainability of intervention and the security of the domestic financial system. On this basis, through the comparison between China and India, the paper puts forward some suggestions for China's exchange rate reform.
【作者单位】：复旦大学国际金融系;
【基金】：国家自然科学基金(70673011) 上海市哲学社会科学规划课题(2008BJB024) 复旦大学中国经济国际竞争力创新基地国际金融方向子课题的资助
【分类号】：F832.6

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