欧洲主权债务危机的特殊性研究

发布时间：2018-07-05 10:16

  本文选题：欧洲主权债务危机 + 欧元　； 参考：《吉林大学》2016年博士论文

【摘要】：2009年希腊主权债务危机爆发,随即蔓延到爱尔兰、葡萄牙、西班牙、意大利和塞浦路斯等欧元区国家,欧洲主权债务危机全面爆发。从危机的爆发至今,已经超过7年。在此期间,虽然德法等欧元区核心国家、欧盟、欧洲央行和国际货币基金组织均先后启动了多种救助机制,债务国自身也为缓和危机做了很大的努力。但外部援助和债务国内部紧缩努力的效果都不尽如人意,未能从根本上解决危机,欧洲主权债务危机不断演化,已经成为困扰整个欧盟经济复苏的关键问题。不仅如此,危机还引起了世人对于欧元前景和未来欧盟一体化进程的担忧,可以说,这场主权债务危机成为了事关欧盟前途的重大事件,在经济政治领域对世界将产生深远影响。从20世纪80年代至今,在世界范围内发生多次债务金融危机,但一般经过一到二年就解决了,为什么欧洲主权债务危机迟迟得不到解决?这是由于欧洲主权债务危机的特殊性所决定的。1980年在韩国,1985年左右在拉丁美洲国家,1997年在东南亚国家,和2001年在阿根廷先后发生的金融危机,都具有外债危机的特点;美国发生的次贷危机具有内债危机的特点;而欧洲主权债务危机似乎是外债危机,但又不像外债危机。之所以像外债危机,是因为希腊等债务国所借的债务是来自德国、法国等其他国家。之所以不像外债危机,是因为债务是用欧元计价的,而欧元是欧洲主权债务危机国家所使用的本国货币。与此相对应,欧洲主权债务危机似乎又是内债危机,但也不像内债危机。因为,希腊等国的债务虽是欧元计价,但不是从本国企业和家庭筹集的,而是从外部筹集,本国政府也没有能力发行和管理欧元。所以说,欧洲主权债务危机即不是完全意义上的外债危机,也不是完全意义上的内债危机。由于欧洲主权债务危机“两不像”的特点,尝试用解决外债危机的方法来化解欧债危机难以奏效,同样,用解决内债危机的方法也难以奏效,这是欧债危机至今未能彻底解决的根本原因。基于这一特殊性,本文首先从马克思经典债务理论入手,以债务危机反应的是债权人和债务人之间合作与对抗关系为视角,对欧洲主权债务危机进行全景式研究。通过分析欧洲主权债务危机的特殊性,揭示债务危机与债务国货币主权丧失之间的内在联系,说明举债、生产、贸易和偿债之间的关系,从而找到债务危机治理的根本出路,为我国合理利用外债提供参考。通过对不同债务危机进行比较研究,探寻这些危机的异同点,揭示债务危机的本质,对我们全面认识债务危机,防范危机发生提供有益的借鉴。马克思的债务理论认为,债务关系体现了债权人与债务人之间的合作与对抗关系。如果债务人通过对外举债,能够有效的实现提高生产、增加贸易、推动经济增长,那么,偿债就有保证,债权人与债务人之间就可以进行良好的循环合作;反之,则债权与债务双方就会发生对抗,直至以极端的债务危机形式表现出来。这一关系在希腊债务危机中表现最为明显。希腊政府的对外负债,未能用来有效地发展生产、贸易和推动本国经济增长,而是用来增加国民福利、提高收入水平,最终导致无力偿债,从而引发了债权国与希腊的对抗,爆发债务危机。同时,债权国对希腊救助所附加的严格紧缩性条件,又引发了希腊国内民众与政府,希腊与欧盟的对抗。欧元区各国主权债务危机的成因一般有两类,一类是本国政府为维护金融稳定,防止经济衰退而使用财政资金救助本国银行业,使银行业危机转化为主权债务危机;另一类是政府受历史债务和经济疲软拖累,财政赤字飙升,债务居高不下,最终导致严重的主权债务问题。欧元区成员国的政府财政赤字,无法通过发行货币的方式缓解,只有求助于债权国的宽限和援助,虽然欧盟委员会、欧洲央行和国际货币基金组织提供了多轮救助,但只是暂时缓解,而未能彻底解除危机。欧洲主权债务危机有着深刻的制度根源,是欧元区货币制度和政治制度缺陷的集中反映。欧元区各成员国使用的欧元,是由欧洲央行发行的超主权信用货币。货币的统一给欧元区国家带来了巨大的经济利益,但却无法满足各国政府调节各自经济的需要,当各成员国面对非对称经济冲击时,财政政策成为唯一调节手段。欧元区国家各自独立的财政政策和统一的货币政策之间出现巨大矛盾。欧元的制度设计,突出了统一的货币权力对分散的财政权力的制约,却忽视了两者相互的配合。同时,欧盟治理结构的缺陷,也导致成员国财政纪律松弛,道德风险频发,联盟内部政策协调不足,金融监管不力。在危机发生后又出现决策行动迟缓,央行救助不力,成员国之间对立加剧等一系列问题。欧洲经济一体化过程中的关税同盟和共同市场阶段运行良好,但是运行到经济货币联盟阶段,则遭遇重大挑战,从根本上来看,这是经济联盟与国家主权的冲突。因此,欧洲主权债务危机本质上是政治经济学危机。欧元区统一了货币和中央银行体系,进而统一了区内经济,但完全的货币经济解决不了各成员国现实存在的失业和收入分配不公的问题,需要依靠各国政府自行调节。欧元区的各成员国政府没有发行货币的权力,丧失了货币主权,失去了利率、汇率等调节宏观经济的杠杆,只能依靠财政扩张和举借外债来解决本国失业和收入问题。经济统一,而政治仍独立的矛盾,是欧元区的根本矛盾,欧债危机的最终解决,也要通过推进欧盟政治一体化来实现。对比以往发生的几次主要债务危机,我们能进一步看清欧债危机的特殊性。尽管债务危机本质上都是信用危机,但以往发生过危机的韩国、拉美国家、泰国和阿根廷等危机国,都是主权国家,有自己的货币主权,发生危机时,可以利用汇率、利率调节其国际收支,抵御来自外部的冲击。而此次深陷欧洲主权债务危机中的希腊等国,则由于加入欧元区而丧失了货币主权,不再有能力通过调节本国国际收支化解危机,只能依靠其他欧元区成员国的全面支持和合作。进一步对比中国和希腊利用外债的效果,我们发现,我国有效的利用外债发展生产,扩大贸易,推动经济增长,从而实现了债权债务关系的和谐;而反观希腊,其在利用主权债务方面未能实现以上目的,从而造成了债务国和债权国的严重对抗。因此,如何有效利用外债,如何防范债务危机,欧洲主权债务危机给我国带来了重要启示。
[Abstract]:The Greek sovereign debt crisis broke out in 2009 and then spread to euro zone countries such as Ireland, Portugal, Spain, Italy and Cyprus. The European sovereign debt crisis broke out in an all-round way. It has been over 7 years since the outbreak of the crisis. During this period, although Germany and France, such as the euro zone core countries, the European Union, the European Central Bank and the International Monetary Fund A variety of rescue mechanisms have been launched successively, and the debtor countries themselves have made great efforts to mitigate the crisis. However, the effects of external aid and debt domestic contraction efforts are not satisfactory, and the crisis has not been solved fundamentally. The evolution of the European sovereign debt crisis has become the key problem that has plagued the economic recovery of the whole European Union. In this case, the crisis has also raised concerns about the future of the euro and the future of EU integration. It can be said that the sovereign debt crisis has become a major event in the future of the European Union, and will have a far-reaching impact on the world in the economic and political field. Since 1980s, there have been a number of debt financial crises in the world, but there have been many financial crises in the world. Generally after one or two years, why is the European sovereign debt crisis unresolved? This is due to the special nature of the European sovereign debt crisis in.1980 in Korea, in Latin American countries around 1985, in 1997 in Southeast Asia, and in the financial crisis of 2001 in Argentina. The subprime crisis in the United States has the characteristics of the internal debt crisis; the European sovereign debt crisis seems to be a foreign debt crisis, but not as a foreign debt crisis. The debt crisis, like the debt crisis in Greece and other countries, is from Germany, France and other countries. It is not like the external debt crisis because the debt is Europe. The euro is the domestic currency used by the European sovereign debt crisis countries. In contrast, the European sovereign debt crisis seems to be an internal debt crisis, but it is not like the internal debt crisis. The debt of Greece and other countries, although it is the euro, is not raised from domestic enterprises and families, but is raised from the outside, and the government is also a government. There is no ability to issue and manage the euro. Therefore, the European sovereign debt crisis is not a complete external debt crisis, nor is it a complete internal debt crisis. As the European sovereign debt crisis is "two unlike", it is difficult to resolve the European debt crisis with the method of solving the external debt crisis, as well as to solve the internal debt crisis. This is the root cause of the failure of the European debt crisis. Based on this particularity, this article begins with Marx's classical debt theory, taking the debt crisis as the perspective of the cooperation and confrontation between creditors and debtors, and carries out a panoramic study of the European sovereign debt crisis. This paper analyzes the particularity of the European sovereign debt crisis, reveals the inherent relationship between the debt crisis and the loss of the sovereign money sovereignty of the debtor countries, and illustrates the relationship between the debt raising, production, trade and debt service, thus finding the fundamental way out for the management of the debt crisis, providing a reference for the rational use of foreign debt in our country. Looking for the similarities and differences of these crises and revealing the essence of the debt crisis, we can provide useful reference for us to fully understand the debt crisis and guard against the crisis. Marx's debt theory holds that the debt relationship embodies the relationship of cooperation and confrontation between the creditor and the debtor. In order to produce, increase trade and promote economic growth, the debt service is guaranteed, and the creditor and the debtor can carry on good circular cooperation; on the other hand, the creditor and the debt will fight against the debt crisis in the form of extreme debt crisis. This relationship is most evident in the Greek debt crisis. External liabilities, which were not used to effectively develop production, trade and economic growth, were used to increase national welfare, increase income levels, and eventually lead to insolvency, which led to the confrontation between the creditor countries and Greece and the debt crisis. At the same time, the strict austerity conditions attached to the Greek rescue were triggered by Greece. There are two kinds of causes of the sovereign debt crisis in the euro zone. The one is that the government is to protect the financial stability, prevent the economic recession and use financial funds to save the domestic banking industry, turn the banking crisis into the sovereign debt crisis; the other is the government is subject to historical debt and economy. The weakening of the deficit, soaring fiscal deficits and high debt eventually led to serious sovereign debt problems. The government's fiscal deficit in the member countries of the euro zone could not be eased by the way of issuing currency, only the grace and assistance of the creditor countries, although the European Commission, the European Bank of Europe and the International Monetary Fund provided multiple rounds of assistance, The European sovereign debt crisis has a profound institutional root, a reflection of the monetary and political flaws in the euro zone. The euro is the ultra sovereign credit issued by the European Central Bank. The unity of the currency has brought a huge amount of money to the euro zone countries. Economic benefits, but can not meet the needs of governments to regulate their respective economies. When each member countries face asymmetrical economic shocks, fiscal policy becomes the only means of regulation. There is a huge contradiction between the independent financial policies of the euro zone countries and the unified monetary policy. The system design of the euro has highlighted the unified monetary rights. The restriction of the decentralized financial power has ignored the cooperation between the two. At the same time, the defects of the EU governance structure also lead to the relaxation of the financial discipline of the Member States, the frequent moral hazard, the lack of internal policy coordination in the alliance, and the poor financial supervision. The customs union and the common market stage in the process of European economic integration run well, but the operation to the economic and monetary union stage is a major challenge. Fundamentally, this is the conflict between the economic alliance and the sovereignty of the state. Therefore, the European sovereign debt crisis is essentially a political economic crisis. The region unifies the currency and the central bank system, and then unifies the economy in the region, but the complete monetary economy can not solve the problem of unemployment and unfair income distribution in the members of the member countries. It is necessary to rely on the government to regulate it. The governments of the member states of the euro zone have no power to issue money, lost monetary sovereignty and lost profit. The leverage of macroeconomic adjustment, such as rate, exchange rate and so on, can only rely on financial expansion and borrowing of foreign debt to solve the problem of unemployment and income in the country. Economic unity, and the contradiction of political independence, is the fundamental contradiction of the euro area, the ultimate solution of the European debt crisis and the integration of the EU's political governance. The crisis, we can further see the particularity of the European debt crisis. Although the debt crisis is essentially a credit crisis, the crisis countries, such as South Korea, Latin American countries, Thailand and Argentina, are sovereign countries with their own monetary sovereignty. In the event of a crisis, they can use exchange rates, interest rates to adjust their balance of payments and resist Greece and other countries in the European sovereign debt crisis have lost their monetary sovereignty because of their accession to the euro zone, and no longer have the ability to resolve the crisis by adjusting their own balance of payments. They can only rely on the overall support and cooperation of other euro zone members. We find that our country effectively uses foreign debt to develop production, expand trade and promote economic growth, thus achieving a harmonious relationship between debt and debt. In the case of Greece, it has failed to achieve the above purpose in the use of sovereign debt, thus causing severe confrontation between debtor countries and creditor countries. Therefore, how to effectively use foreign debt and how to guard against debt The European sovereign debt crisis has brought important enlightenment to our country.
【学位授予单位】：吉林大学
【学位级别】：博士
【学位授予年份】：2016
【分类号】：F815
，

本文编号：2099876