G-3国家汇率波动与发展中国家的汇率制度选择——兼论人民币汇率制度的完善  

The G-3 Exchange Rate Volatility and Choices of Exchange Rate Regime for the Developing Countries

作　　者：姜凌[1] 马先仙[1] 

机构地区：[1]西南财经大学经济学院

出　　处：《财贸经济》2007年第7期67-72,共6页Finance & Trade Economics

基　　金：教育部人文社科规划项目(06JA790091)<经济全球化条件下的国际货币体系改革>阶段性成果

摘　　要：本文主要通过对我国改革开放后汇率制度选择与应对G-3国家①汇率波动冲击之间关系的研究证实:就发展中国家应对G-3国家汇率波动的冲击而言,从汇率管理方式看,依据均衡汇率②进行的管理优于依据一篮子货币进行的管理;从汇率制度选择看,在国际金融一体化背景下,浮动汇率制度优于固定汇率制度。从总的趋势看,外汇市场的发展和灵活的汇率安排有利于消减G-3国家汇率波动对人民币实际有效汇率的冲击。据此,本文认为我国自2005年7月21日开始实行的人民币新的汇率形成机制,尽管更为适合我国国内外经济的实际,有利于应对G-3国家汇率波动冲击,但仍然具有过渡性质。Through researching the relation between choices of exchange rate regime and outcome from coping with impact of the G-3 exchange rate volatility since reform and open up in China,we find that only as for coping with impact of the G-3 exchange rate volatility,the management according as equilibrium exchange rate is better than the management according as a basket currency;The floating exchange rate system surpasses the fixed rate of exchange system in the background of international finance integration.Therefore,the new exchange rate system carried out since July 21,2005,although adapted to domestic and foreign economic circumstance,and beneficial for us to cope with the impact of the G-3 exchange rate volatility,is still a transitional arrangement.

关 键 词：G-3国家 汇率波动 发展中国家 汇率制度 

分 类 号：F832.6[经济管理—金融学] F830.7