人民币国际化背景下我国推动人民币加入SDR的动机及路径

发布时间：2018-02-05 18:56

  本文关键词： SDR货币标准 外汇储备资产管理 人民币国际化　出处：《国际金融研究》2013年03期 　论文类型：期刊论文

【摘要】：国际货币基金组织为了降低以人民币为首的新兴市场货币加入SDR的门槛,重新制定了以国际化为核心的SDR货币标准。本文通过模拟和比较在多期条件下人民币加入SDR前后我国外汇储备资产的表现,证明了人民币加入SDR可以为我国创造一种有益的外汇储备投资工具。然而,按照现在的国际化进程,人民币于下一次SDR修订时达到SDR货币新标准的可能性很小。因此,本文借鉴美日经验分析了加速国际化从而达到SDR货币标准的可行性。研究表明,在岸市场加速开放和离岸市场加速发展都会给宏观经济带来巨大的风险,因此加入SDR还需循序渐进。
[Abstract]:In order to lower the threshold for emerging market currencies, led by the renminbi, to join the SDR, This paper reformulates the SDR monetary standard with internationalization as the core. This paper simulates and compares the performance of China's foreign exchange reserve assets before and after the entry of RMB into SDR under multi-period conditions. This proves that RMB entry into SDR can create a useful foreign exchange reserve investment tool for our country. However, in the current international process, the possibility of RMB meeting the new standard of SDR currency by the next SDR revision is very small. This paper analyzes the feasibility of accelerating internationalization to reach the SDR monetary standard by using the experience of the United States and Japan for reference. The research shows that accelerated opening up of onshore market and accelerated development of offshore market will bring great risks to the macro economy. So it is necessary to join SDR step by step.
【基金】：作者参与的国际货币基金组织华盛顿总部金融部“Risk,return and hedging properties of an expanded SDR basket”项目的阶段性成果
【分类号】：F832.6
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本文编号：1492490