浮动本位兑换、双重汇率与中国经济：1870--1900  

Floating Standard Exchange,Dual Exchange Rates and China's Economy:1870—1900

作　　者：管汉晖[1] 

机构地区：[1]北京大学经济学院

出　　处：《经济研究》2008年第8期113-123,共11页Economic Research Journal

基　　金：中国博士后科学基金(编号20070420369)的资助

摘　　要：19世纪70年代以后,当世界上多数国家纷纷放弃金银复本位而采用金本位时,中国仍然是银铜复本位制度。与金银复本位两种本位货币之间有固定兑换比价不同,中国银铜复本位两种本位货币的兑换比价是浮动的,由此造成了对外是金银汇率,对内是银铜(钱)汇率的双重汇率。双重汇率导致了汇率贬值一倍时贸易却由顺差变为逆差,实际外债和赔款的增加加重了财政负担,制钱成本上升带来的物价上涨又加剧了中下层民众的贫困化。本文在郑友揆(1991)研究的基础上,结合货币理论的新进展和新的历史资料,分析1870年到1900年双重汇率对当时中国经济的影响,在此基础上以金银复本位为参照探讨中国银铜复本位制度的内在缺陷。China＇s monetary system evolved from bimetallism of silver and copper to silver standard, then to paper money standard since Ching Dynasty, which is obviously different with the evolution of monetary system in western countries, where monetary system evolved from bimetallism of gold and silver to gold standard, then to paper money standard. 1870＇s later, most western countries gave up bimetallism of gold and sliver one after another, and adopted gold standard, which resulted in the regime of dual exchange rates in China, namely, exchange rate of silver to gold in foreign trade and exchange rate of silver to copper in domestic trade. Dual exchange rates brought the phenomenon Of trade deficit in company with depreciation, which is not accordance with economic theory.＇ It also brought disadvantages to our country through enhancing the burden of foreign loans and reparations and impoverished grass roots people. Based on Zheng Youkui＇s research, also under the background of new development in monetary theory and historical data, we analyze the effects of regime of dual exchange rates on China＇s economy between 1870 and 1900. Finally, this article makes clear the inherent defects of bimetallism in China by comparing it with bimetallism in western countries.

关 键 词：复本位 双重汇率 经济 

分 类 号：F832.9[经济管理—金融学] F129