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美国对外直接投资对美元国际化的影响研究

发布时间:2018-12-12 21:17
【摘要】:随着我国经济平稳快速发展,我国的对外贸易得到了快速的发展,综合实力在不断增强,我国已经成为了世界第二大经济体,但是人民币还依然处于国际化的初始阶段,人民币的国际地位有待提高,目前我国政府不断进行人民币国际化的制度建设,希望提高人民币国际化的进程。而目前作为最重要国际货币的美元,在二战之后迅速成为了世界最强大的货币之后,依旧保持着国际货币的头把交椅。 从美元国际化的过程中可以发现,是美国的对外直接投资造就了美元的国际化,并且在“后国际化”阶段巩固了美元的地位。回顾历史可以发现,两次世界大战,美国向参战国输出了大量的军火,从债务国变成了债权国,,然后向欧洲各国提供有条件的美元贷款,迫使欧洲开放市场,扩大出口,加大对外直接投资,使得美国在海外的资产不断增加,同时促进了美国的商业银行大举进军海外市场,形成欧洲美元市场,美元的影响力获得空前的发展。 本文实证分析发现,美国的对外直接投资每增长1%,会使得美元在外汇储备占比提高0.14%,美元在外汇交易的占比中提高0.14%,美元在国际债券的交易占比中提高0.33%。因此可以看到,美国对外直接投资能够显著的影响到美元的国际化。为了提高人民币的国际化,我国应该加大对外直接投资力度,提高人民币区域化的投资力度,并且提高人民币跨境贸易结算比重,然后稳步推进人民币汇率改革,保持人民币币值的稳定,加快建立人民币回流机制,使得人民币真正成为国际货币。
[Abstract]:With the steady and rapid development of China's economy, China's foreign trade has been developing rapidly, and its comprehensive strength has been continuously strengthened. China has become the second largest economy in the world, but the RMB is still in the initial stage of internationalization. The international status of RMB needs to be improved. At present, the government of our country carries on the system construction of RMB internationalization, hoping to improve the process of RMB internationalization. The dollar, now the most important international currency, has quickly become the world's most powerful currency after World War II, and remains top of the international currency. From the process of dollar internationalization, it can be found that US foreign direct investment (OFDI) has brought about the internationalization of US dollar and consolidated its position in the stage of "post-internationalization". Looking back at history, we can see that during the two world wars, the United States exported large quantities of arms to the participating countries, from debtor countries to creditor countries, and then provided conditional US dollar loans to European countries, forcing Europe to open its markets and expand its exports, Increased foreign direct investment has increased U.S. assets overseas, while spurring U.S. commercial banks to expand into overseas markets, forming the European dollar market, and the dollar's influence has grown ever before. The empirical analysis shows that each increase of US foreign direct investment (OFDI) will increase the proportion of US dollars in foreign exchange reserves by 0.14%, and the proportion of US dollars in foreign exchange transactions by 0.14%. The dollar rose 0.33 cents as a share of international bond trading. Therefore, it can be seen that US OFDI can significantly affect the internationalization of the dollar. In order to enhance the internationalization of the RMB, China should increase the intensity of foreign direct investment, increase the investment intensity of RMB regionalization, and increase the proportion of RMB cross-border trade settlement, and then steadily advance the RMB exchange rate reform. Maintain the stability of the value of the RMB, speed up the establishment of RMB return mechanism, so that the RMB truly become an international currency.
【学位授予单位】:湖南大学
【学位级别】:硕士
【学位授予年份】:2012
【分类号】:F832.6;F827.12

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