解析高外汇储备与人民币升值的循环困局  

On high currency reserve and RMB appreciating's recycling difficulty

作　　者：邱佳[1] 

机构地区：[1]华中科技大学经济学院金融系,湖北武汉430074

出　　处：《特区经济》2008年第8期73-74,共2页Special Zone Economy

摘　　要：目前,我国的巨额外汇储备被普遍视为人民币升值的直接导火索,同时,受人民币升值预期的影响,大量热钱流入国内,央行为保持人民币币值稳定加大了对外汇市场的干预力度,这进一步增大了我国的外汇储备。外汇储备增大和人民币升值的循环导致了我国当前宏观经济面临两难选择。Nowadays the big amount of foreign currency reserve is being regarded as a fuse that results in appreciation of RMB. At the same time, the appreciation leads to a large quantity of short-term investment inflow. The Central Bank strengthens the interference in the foreign exchange market in order to stabilize the currency value, which increases foreign currency reserve much more. The vicious cycle of appreciation and more foreign currency reserve causes Chinese economy to be at a loss.

关 键 词：外汇储备 人民币升值 循环困局 

分 类 号：F832.6[经济管理—金融学]