货币国际化过程中国际金融中心的作用
发布时间：2019-06-29 08:45
【摘要】：人民币国际化的提法起源于上世纪90年代,近十几年来,随着中国经济的不断发展,以及我国对外经贸往来的日益加深,国内外对于人民币国际化呼声日益高涨。对于人民币国际化的发展,学术界的各种观点都强调了金融深化和发展以及金融中心对于建立国际货币的重要性。从历史上来看,一个国家或地区的货币的国际地位与该国或地区的经济实力与金融发展程度有着很强的关系,美元、日元以及后来的欧元的国际化发展都离不开金融发展和国际金融中心的强力支持。对于我国而言,在推动人民币国际化的过程中,建立起一个以上海为核心的国际金融中心是十分必要的。 基于现状,本文研究的核心内容是研究国际金融中心在货币国际化的过程中所起到的作用。本文从内容上,可以分为四个部分,第一部分：通过对经典理论的图示解析和重新解读对国际金融中心和货币国际化协同发展的理论进行了梳理,并总结货币国际化的生命周期以对本文后续的论述提供理论基础。第二部分：从美元、日元、欧元的国际化过程与纽约、东京以及欧洲的各个金融中心的协同发展出发,通过三个不同的实证案例,分析了货币国际化通过国际金融中心的发展所得到的收益与成本,并指出了金融深化在货币国际化中所起到的作用及其所带来的收益。第三部分：从上文的论述联系我国的实际情况,从上海国际金融中心建设角度讨论其对于人民币国际化的作用。第四部分：通过格兰杰因果检验分析和面板数据模型分析,结合近16年的数据,总结了美元、英镑、日元、欧元四种货币的国际化发展中金融中心发展指标在其中的重要作用,所得结论对上文的理论分析进行了支持。 本文的可能的创新点在于首先将经典理论进行了发展并联系到论文的主题以将其作为本文的理论基础,同时发展了管理学经典理论——生命周期理论,将其与论文主题有机结合起来,此外还在国内外学者的实证基础上将国际金融中心因素加入了既有的货币国际化方程中在实证上也有了新的发展。本文不但从理论上分析了国际金融中心在货币国际化中的作用,还通过欧洲、日本、美国的例子分析了通过国际金融中心进行的货币国际化的收益成本,最后还使用了计量手段揭示了国际金融中心发展指标对货币国际化的作用,使我们能够对中国在未来的发展中如何推动人民币国际化得到了政策方向。
[Abstract]:The formulation of RMB internationalization originated in the 1990s. In recent years, with the continuous development of China's economy and the deepening of China's foreign economic and trade exchanges, the voice of RMB internationalization at home and abroad is rising day by day. For the development of RMB internationalization, various academic views emphasize the importance of financial deepening and development and financial center for the establishment of international currency. Historically, the international status of the currency of a country or region has a strong relationship with the economic strength and financial development of the country or region. The international development of the US dollar, the yen and later the euro can not be separated from the strong support of the financial development and the international financial center. For our country, in the process of promoting the internationalization of RMB, it is very necessary to establish an international financial center with Shanghai as the core. Based on the present situation, the core content of this paper is to study the role of international financial center in the process of currency internationalization. In terms of content, this paper can be divided into four parts. The first part: through the graphic analysis and reinterpretation of the classical theory, this paper combs the theory of the coordinated development of international financial center and currency internationalization, and summarizes the life cycle of currency internationalization in order to provide a theoretical basis for the follow-up discussion of this paper. The second part: starting from the coordinated development of the internationalization process of US dollar, yen and euro with the financial centers of New York, Tokyo and Europe, through three different empirical cases, this paper analyzes the benefits and costs of monetary internationalization through the development of international financial centers, and points out the role played by financial deepening in monetary internationalization and the benefits it brings. The third part: from the above discussion in connection with the actual situation of our country, from the perspective of the construction of Shanghai International Financial Center to discuss its role in the internationalization of RMB. The fourth part: through Granger causality test analysis and panel data model analysis, combined with the data of nearly 16 years, summarizes the important role of financial center development index in the international development of US dollar, pound sterling, yen and euro, and supports the above theoretical analysis. The possible innovation of this paper lies in the development of classical theory and linking it to the theme of this paper as the theoretical basis of this paper. At the same time, the classical theory of management, life cycle theory, is developed and organically combined with the theme of the thesis. In addition, on the basis of the empirical evidence of scholars at home and abroad, the international financial center factor has been added to the existing monetary internationalization equation. This paper not only theoretically analyzes the role of international financial center in currency internationalization, but also analyzes the income cost of currency internationalization through the examples of Europe, Japan and the United States, and finally reveals the role of international financial center development index on currency internationalization by means of measurement. So that we can get a policy direction on how to promote RMB internationalization in China's future development.
【学位授予单位】：东华大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F832.6
本文编号：2507694
[Abstract]:The formulation of RMB internationalization originated in the 1990s. In recent years, with the continuous development of China's economy and the deepening of China's foreign economic and trade exchanges, the voice of RMB internationalization at home and abroad is rising day by day. For the development of RMB internationalization, various academic views emphasize the importance of financial deepening and development and financial center for the establishment of international currency. Historically, the international status of the currency of a country or region has a strong relationship with the economic strength and financial development of the country or region. The international development of the US dollar, the yen and later the euro can not be separated from the strong support of the financial development and the international financial center. For our country, in the process of promoting the internationalization of RMB, it is very necessary to establish an international financial center with Shanghai as the core. Based on the present situation, the core content of this paper is to study the role of international financial center in the process of currency internationalization. In terms of content, this paper can be divided into four parts. The first part: through the graphic analysis and reinterpretation of the classical theory, this paper combs the theory of the coordinated development of international financial center and currency internationalization, and summarizes the life cycle of currency internationalization in order to provide a theoretical basis for the follow-up discussion of this paper. The second part: starting from the coordinated development of the internationalization process of US dollar, yen and euro with the financial centers of New York, Tokyo and Europe, through three different empirical cases, this paper analyzes the benefits and costs of monetary internationalization through the development of international financial centers, and points out the role played by financial deepening in monetary internationalization and the benefits it brings. The third part: from the above discussion in connection with the actual situation of our country, from the perspective of the construction of Shanghai International Financial Center to discuss its role in the internationalization of RMB. The fourth part: through Granger causality test analysis and panel data model analysis, combined with the data of nearly 16 years, summarizes the important role of financial center development index in the international development of US dollar, pound sterling, yen and euro, and supports the above theoretical analysis. The possible innovation of this paper lies in the development of classical theory and linking it to the theme of this paper as the theoretical basis of this paper. At the same time, the classical theory of management, life cycle theory, is developed and organically combined with the theme of the thesis. In addition, on the basis of the empirical evidence of scholars at home and abroad, the international financial center factor has been added to the existing monetary internationalization equation. This paper not only theoretically analyzes the role of international financial center in currency internationalization, but also analyzes the income cost of currency internationalization through the examples of Europe, Japan and the United States, and finally reveals the role of international financial center development index on currency internationalization by means of measurement. So that we can get a policy direction on how to promote RMB internationalization in China's future development.
【学位授予单位】：东华大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F832.6
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