东亚金融一体化程度与福利收益的实证研究  

Empirical analysis on the process of and welfare gains from financial integration in East Asia

作　　者：郑海青[1] 

机构地区：[1]华东师范大学金融与统计学院

出　　处：《财经科学》2008年第6期40-47,共8页Finance & Economics

基　　金：2005年上海市哲学社会科学研究项目<东亚金融合作机制:基于微观基础的跨期均衡研究>资助

摘　　要：本文利用1970—2004年东亚国家和地区的相关数据,分析了以消费风险分担来衡量的东亚地区金融一体化的程度,以及东亚地区在实现完全风险分担后带来的潜在的福利收益。相比OECD国家和欧盟国家,东亚国家和地区风险分担的福利收益是比较高的,因此可以得出东亚国家和地区金融市场一体化应进一步深化,但在开放金融的同时应加强银行和金融市场监管的合作,以促进人民福利水平的提高的结论。By analyzing the related data from 1970 to 2004, this paper estimates the process of financial integration based on consumption risk sharing, and calculates the potential welfare gains from full risk sharing among East Asian countries. Estimation results show that the degree of consumption risk sharing is far from complete and very low in the region. Compared to OECD and European Union countries, potential welfare gains from consumption risk sharing within East Asia are quite large. It is suggested that financial integration in East Asia should be further deepened, while at the same time, the cooperation between banks and financial market supervisors should be strengthened, so as to improve people＇ s welfare.

关 键 词：东亚 金融一体化 风险分担 福利收益 

分 类 号：F833[经济管理—金融学] F224