货币国际化程度的影响因素分析及对人民币国际化的启示

发布时间：2018-11-18 13:20

【摘要】：文章在参考大量.国内外关于货币国际化程度及其影响因素的相关文献的基础上,综合利用实证分析与规范分析相结合、定性分析与定量分析相结合的经济学研究方法,来全面探究货币国际化程度的影响因素对货币国际化程度的作用机制及其对人民币国际化的启示。文章除结论外,共分五个部分论述:第一部分以货币国际化的含义、职能为切入点,阐述货币国际化的基本理论,并依据不同的标准划分货币国际化的程度。第二部分整理收集关于货币国际化程度及其影响因素的相关文献。第三部分以公认的国际货币——美元、欧元、日元、英镑为样本货币,综合利用国际货币三大职能的相关代理变量构建货币国际化程度指数,衡量四种主要货币的国际化程度。第四部分归纳可能影响一国货币国际化程度的因素,并选取影响因素的相关代理变量,建立关于货币国际化程度与其影响因素之间的计量模型,利用Eviews6.0实证分析货币国际化程度影响因素的贡献度大小,从而得到四种不同国际化程度货币的主要影响因素的异同。实证结果表明,货币的网络外部性是影响四种货币国际化程度的共性因素,经济规模是影响美元和欧元国际地位的主要因素,币值的稳定性是影响日元国际地位的主要因素,金融市场的发达程度是影响英镑国际地位的主要因素。第五部分结合人民币国际化的现状和利弊,根据美元、欧元、日元、英镑国际化程度影响因素的实证分析结果,为人民币国际化提供一条合理、稳健、可行的发展路径。
[Abstract]:The article is referring to a large number of. On the basis of the domestic and foreign literature on the degree of currency internationalization and its influencing factors, this paper combines the empirical analysis with the normative analysis, the qualitative analysis with the quantitative analysis, and the economic research method. To explore the influence factors of the degree of monetary internationalization on the degree of monetary internationalization mechanism and its implications for the internationalization of RMB. In addition to the conclusion, the paper is divided into five parts: the first part discusses the basic theory of currency internationalization, and divides the degree of currency internationalization according to different standards, taking the meaning and function of currency internationalization as the starting point. The second part collates and collects the related literature on the degree of currency internationalization and its influencing factors. The third part uses the recognized international currencies-dollar, euro, yen and sterling as the sample currency, synthetically uses the relevant proxy variables of the three major functions of international currency to construct the currency internationalization degree index to measure the internationalization degree of the four major currencies. The fourth part sums up the factors that may affect the degree of currency internationalization of a country, and selects the relevant agent variables of the influencing factors to establish a measurement model between the degree of currency internationalization and its influencing factors. The contribution of the factors influencing the degree of currency internationalization is analyzed empirically by Eviews6.0, and the similarities and differences of the main influencing factors of the four kinds of currencies with different degree of internationalization are obtained. The empirical results show that the currency network externality is the common factor affecting the internationalization of the four currencies, the economic scale is the main factor affecting the international status of the US dollar and the euro, and the stability of the currency is the main factor affecting the international status of the yen. The degree of development of financial markets is the main factor affecting the international status of sterling. The fifth part combines the current situation, advantages and disadvantages of RMB internationalization, according to the empirical analysis results of the factors affecting the degree of internationalization of US dollar, euro, yen and sterling, provides a reasonable, steady and feasible development path for RMB internationalization.
【学位授予单位】：天津财经大学
【学位级别】：硕士
【学位授予年份】：2016
【分类号】：F832.6

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