经济大国崛起时期本币升值压力应对研究

发布时间：2018-11-13 14:28

【摘要】：一国经济崛起时期通常面临本币升值压力,虽然压力类型和特征不同,但购买力平价理论、利率平价理论以及从政治经济学视角都能解释压力形成的根源。从日德经济崛起与本币升值压力的历史回顾来看,二者之间存在相关性、滞后性、阶段性和诱发性特征。日本和德国在应对本币升值过程中实施的政策及其理念各异,具体可表述为主动渐进升值与被动大幅升值的汇率政策、独立自主的货币政策与依附于汇率目标的货币政策、放松资本管制和依附于汇率目标的资本管制、政策组合有效和政策搭配失误、一以贯之的社会市场经济和零打碎敲的国家干预经济理念五个方面,而由此带来的不同政策效应也给我国当前应对人民币升值压力以诸多启迪。
[Abstract]:Although the pressure types and characteristics are different, the theory of purchasing power parity, the theory of interest rate parity and the perspective of political economy can explain the origin of the pressure. From the historical retrospect of the economic rise of Japan and Germany and the pressure of local currency appreciation, there are some characteristics of correlation, lag, stage and inducement between them. Japan and Germany implement different policies and ideas in the process of responding to the appreciation of their currencies, which can be expressed as the exchange rate policy of active gradual appreciation and passive and large appreciation, the independent monetary policy and the monetary policy dependent on the exchange rate target. Relaxation of capital controls and capital controls dependent on exchange rate objectives, effective policy mix and mismatch of policies, consistent social market economy and piecemeal concept of state intervention, And the different policy effect that brings from this also gives our country to deal with the pressure of appreciation of RMB at present with many enlightenments.
【作者单位】：广东商学院金融学院;
【基金】：作者主持的国家社科基金青年项目“金融危机后人民币汇率大国博弈及中国对策研究”(项目编号:11CGJ009) 广东省哲学社科规划青年项目“后危机时代人民币汇率的大国博弈与中国的对策”(项目编号:GD10YYJ07) 广东省“千百十”工程第六批人才培养对象广东商学院金融市场投融资研究创新团队的资助
【分类号】：F832.6

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