跨境资本自由流动的政治经济学分析

发布时间：2018-05-01 16:02

本文选题：资本自由流动 + 利益集团　；参考：《世界经济与政治》2012年06期

【摘要】：20世纪70年代以来,理论界和国际社会基本秉承资本自由流动能够改善资源全球配置的理念,宣称资本流出国与流入国都将从中受益。然而2010年开始,全球范围内掀起一轮资本管制的浪潮,新兴市场国家和部分发达国家主张采取征收资本利得税或者金融交易税的方式,抑制跨境资本的大范围流动,维持本国经济政策的独立性和有效性。作者结合"新自由主义"和"国家干预主义"的理论思想,比较分析跨境资本自由流动的利弊,提出新兴市场国家在特定条件下针对短期资本流动应该加以管制。同时,发达市场政府对资本自由流动态度的变化是国内利益集团矛盾冲突与调和的结果,不同利益集团党派偏好和选举周期最终影响资本流动的政策选择,欧美国家本国经济低迷迫使其实行国内保护的资本流动政策来缓解矛盾。全球化下的国际金融市场需要一种全新的国际管理机制解决市场失灵问题,应对资本流动产生的跨国溢出效应需要有效的国际协调,构建反映新的实力分配的全球治理框架,从而寻找到集体利益和本国利益的平衡点。
[Abstract]:Since the 1970s, the theory and the international community have basically adhered to the idea that the free flow of capital can improve the global allocation of resources, claiming that capital flows abroad and inflow countries will benefit from it. However, in 2010, a wave of capital control has been set off in the world, and the countries of emerging markets and some developed countries are advocating the use of levied capital. In the form of the local profit tax or the financial transaction tax, it inhibits the large flow of cross-border capital and maintains the independence and effectiveness of its economic policy. The author, combining the theory of "neoliberalism" and "state intervention", compares and analyzes the advantages and disadvantages of the free flow of cross-border capital, and puts forward that the emerging market countries aim at the short term under specific conditions. Capital flow should be regulated. At the same time, the change in the attitude of the developed market government to the free flow of capital is the result of the conflict and reconciliation of the domestic interest groups. The party preference and the election cycle of the different interest groups ultimately affect the policy choice of the capital flow. The domestic economic downturn in the European and American countries forces it to carry out the capital flow of domestic protection. The international financial market under globalization requires a new international management mechanism to solve the problem of market failure. The transnational spillover effects of capital flows need effective international coordination and a global governance framework reflecting the new distribution of strength, so as to find a balance between collective and national interests. Point.

【作者单位】：南京大学商学院;中国社会科学院世界经济与政治研究所;
【基金】：国家社科基金重点项目“二十国集团面临的全球治理重点问题研究”(项目编号:11AGJ001) 国家自然科学基金项目“国际资本流入的顺周期性及其宏观审慎管理”(项目编号:71103083)的阶段性研究成果
【分类号】：F831.7

【共引文献】